We're approaching the end of Q3, and 2019 is looming on the horizon. As you execute the rest of your plan for this year, there's no doubt you're already building initiatives for after the flip of the calendar. But what good is a plan if you don’t stick to it? If you ask Trent Moffat, owner of Gotham Brands, he’d probably tell you what he told us: “If you’ve got a plan and you don’t do anything with it, it’s a waste of time.”
Technology has revolutionized the way that we interact with the world. These days, consumers trade in their coffee socials for social media, brick-and-mortar establishments for e-commerce, and The Yellow Pages for Google searches. Among the casualties of these technological advances are many of the sales techniques and practices of our forefathers; the sales techniques used by CPG giants of the past few decades simply do for today’s buyers. Here are just a few of the sales practices that you may want to eliminate from your field sales efforts.
As a sales manager, you’re constantly looking for ways to improve the performance of your team. There are many schools of thought as to what the best strategies are to boost your numbers. Should you be more results- oriented or focus more on the process? How much freedom should you grant your reps in their daily activities? While these types of questions may not have a clear answer, everyone agrees that you as a manager must put the best tools and technologies in your reps’ hands to empower them to success.
To grow your brand, you’ve done more hands-on work than you probably care to remember. You’ve spent countless hours on your feet at tastings and events, and countless more in the car driving to meet with store managers and buyers. All of this you’ve done to increase your product’s presence in stores and availability for your customers. This is vital to the growth of your brand, but how much do you actually know about what happens to your products on the shelf after you’ve left?
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.