We love field teams, and we bet that you do too, especially when yours is landing new deals and customers. But, could your team be leaving money on the table by missing on-site sales opportunities?
It’s well known that it’s easier to keep existing customers and increase deals with them than it is to go out and find new customers; it’s often less expensive too. The manual nature of many field team operations, unfortunately, makes those cross-sell and up-sell opportunities more difficult. That’s because touchpoints and interactions often come while you’re focused on fulfilling existing orders.
Retail inventory software might be the panacea your field team needs not only to identify opportunities better, but execute on them immediately so that your chance of success is much higher. To understand that potential, let’s look at the largest hazards to their productivity. Plus, we’ll review the greatest prospects that retail shelf management practices can generate for you.
The Big Threat: Administrative Tasks
Field teams and sales reps have a lot on their plate, and the more tasks they must do by hand the less time they have to get to know your partners and their businesses, which are a must for on-site sales.
Averaging the research shows that field sales teams and reps will spend about 60% of their time on administrative responsibilities. You brought them on board to satisfy customers and make more sales, but they’re spending almost two-thirds of their time not making money for you or generating commissions for them.
So, what’s the biggest time waster right now?
Setting follow-up calls and appointments.
Your field teams can see opportunities and discuss them with existing and potential customers, but — if you’re like most companies today — they have to head back to your office to understand how they can realistically address the needs of these new leads.
After they understand your capabilities and existing inventory, they’ll then have to reach out to the lead and schedule an additional meeting time to make the pitch and offer to help. That’s a lot of additional steps and days of delays in-between discovering a need and being able to fill it.
But, what if you could empower them to know your inventory and your fulfillment rates in real-time, so they could give every lead an offer right away?
We’re big believers in technology that can do just that; it’s part of our retail shelf management tools. Giving your team sales and inventory software that displays current inventory levels and allows them to place orders — showing fulfillment timelines — can turn that first interaction from a fishing expedition into a sale. Your team is smart and strong, give them retail inventory software that is too.
The Big On-Site Sales Opportunity: Identifying Gaps in Partner Offerings
Easy on-site sales come when your existing customer asks for increased stock or a greater range of products. But, these require the customer to be proactive and your team simply to react. With the thousands of tasks retail and grocery partners perform each day, are you willing to depend on them to do all the hard work for you?
You can take a proactive approach to sales improvement by identifying the gaps in your current partners’ offerings to maximize sales of existing products and secure more shelf space for new orders. Shelvspace’s retail shelf management tools make it simple by pairing store audits and photo galleries with our comparative data analysis to identify opportunities and the best possible promotions.
Start with common gaps that can impact your operations and are easy to track with sales and inventory software:
- Problems executing displays
- Failures in promotion implementation
- Pricing changes that aren’t activated
- And adherence to merchandising standards
Next, look for areas where your products can fit an existing need. Are partner shelves bare every time you visit? Do your competitors lag behind when it comes replenishment?
Do you have a flavor or style that isn’t represented by any existing offers on your partner’s shelves?
Our sales and inventory software helps you uncover these opportunities and pair them with real-time inventory knowledge. This empowers your field sales and replenishment teams to make the right ask, provide the right promotion, score that on-site sale, and become a true value-adding service for your existing partners.
The best path to success is showing the right promotion, at the right time, to the right person. And, that’s exactly what our retail inventory software delivers.
Ready to discover how field software can improve your chance at landing bigger accounts and improving relationships for greater space on store shelves? Then try a Free Retail Audit from Shelvspace!