Changing how your field team operates
There’s no argument that a well-conducted field program can create value by complementing retailer resources, educating retailers about the value a brand brings to the assortment or ensuring better-than-average execution. However, the increased availability of retailer data opens a great opportunity for suppliers to revisit the principles of retail execution and usher it into a new era of transparency and optimization.
The principles of Retail Execution Optimization
Store calling plans incorporate elements such as: operational improvement, the cost to visit the store, and the effect field resources have in that store.
Individual call design:
Each visit is customized for the store; designed based on yesterday’s information and blended with tomorrow’s prediction. Each rep is tasked with a simple, clear to-do list. The list incorporates data-based alerts and true sales activities. These data-based alerts are geared toward lost sales correction and prevention. While the true sales activities look to support upcoming promotions, innovations, or simply a productive dialogue on your role within the category.
Feedback on each visit fuels an always up-to-date score card detailing the effect your team is having on sales and margin. This score card can be broken down by store, by banner, by region, by category, by individual resource, or by type of action. This granularity gives you a chance to do complete course correction in near-real time. It also enables a much better dialogue between headquarters and the field team, helping to justify the level of effort based on true sales growth.
Closing the loop:
A true ROI measurement of Retail Execution
The supplier landscape has changed remarkably in recent years, making it necessary to justify every investment choice. Based on the perception that retail execution is critical to building success and maintaining good retailer relationships, the budgets for in-store visits are continually scrutinized and often held up as a sacrifice toward cost-saving measures. However, with the data available, suppliers can bring new transparency into these previously opaque areas and demonstrate exactly how these visits can benefit partnerships and bottom lines.
Retail Execution Optimization Driving Excellence in the Field Webinar
CPG companies spend hundreds of millions of dollars on store visits today – yet lack a fact-based, systematic way to measure the performance of their investment. Learn how to gain new insight into this vital piece of your business.