If you’ve read our blog before, you know we work with thousands of brands who are vying to take over their category. Whether they’re just breaking into a new segment or gearing up to unseat a category leader, we hear one question over and over: “How do I get our products more real estate in the store?”
It’s no secret that stockouts hurt sales. A sizeable 37% of shoppers report buying from a competitor if their first-choice brand is out of stock, whereas 9% will buy nothing at all. To remedy this problem, sales managers can use the MAAR method.
Launching and growing an emerging beverage or food brand is one part art and one part science. But it always starts with passion. Especially as the retail sector continues to undergo massive transformation - powered by changing consumer tastes, cost pressures, and the growth of online channels, plus the resurgence of both retailers (and restaurants) that strive to offer greater convenience and healthier options.
Choosing and tracking the right KPIs for each member of your team is important — focus on the wrong ones and you could be leaving money in potential sales on the table, but align your team with the right ones and you can unlock their maximum productivity. The key is to pick KPIs that are relevant to both your industry and your business goals. To save you from banging your head against the desk (please don’t do this), here are 14 KPIs you can use to not only to keep your people on track, but to help them get better at selling every day:
You can’t manage what you can’t measure. This is not news to you. You’re tracking a few KPIs for your team, but how do you know they’re the right ones? Or, are they even enough? When your metrics have bigger holes than your dad’s socks, you’ve got some problems. If you’re missing chunks of data, that you don’t even know is missing, you can’t read the whole story behind the decisions you’re making. Let’s plug that gigantic hole with some smart team-based KPIs. Here are 16 of the top ones to track:
Successful brands today know how important it is to make their products available online (headline-grabbing meal replacement drink Soylent managed to raise $75 million after four years of only online selling), and see the value in building a loyal local following (Nantucket Nectars had to fight for success on Cape Cod and the islands before launching into the national spotlight). Yet, breaking into (and mastering!) regional or national retailers remains the most common path to success for food and beverage brands. In this post, we'll outline the most important steps brands can take to grow their retail presence and sell more.
It’s early Monday morning, and your staff sluggishly trickles into the office. Their shoulders are slumped, there are bags under their eyes, and one thing is blatantly clear: No one is motivated to work. Every manager struggles to keep employees motivated from time to time, but great managers know that employee motivation is key to overall success. While there is no single way to ensure that your employees will stay engaged and inspired, there are a few specific and effective techniques that, when implemented, can have major, lasting effects on workplace motivation and productivity. These six strategies are the best known ways to motivate employees:
Mobile data collection is nothing new in the consumer goods industry, but the idea of having reps use their own devices to complete work in the field is. The Bring-Your-Own-Device approach is a unique take on the traditional, company-owned technologies policy, and is quickly picking up steam. More than 2.5 million organizations are predicted to adopt the BOYD policy by 2018, according to Berg Insight. As a manager in the CPG industry, collecting accurate data and having a team you can count on are always a priority for good business - and the BYOD approach can help with both.
Visibility is a priceless tool for managers and field representatives alike. Having insight into activities that are being executed in the field in real-time enables team leaders to correct inefficiencies that are hurting client relationships and their organization’s bottom line. When managers can monitor what’s taking place in the field, remote employees can be given more autonomy and work more effectively. We’ve explored the topic of visibility in previous blog posts, but the analysis below provides a more in-depth look at this invaluable business resource.