Is a Retail Execution & Monitoring Solution Right for You?
Yes. But before I explain, let me first define what, exactly, a retail execution and monitoring solution is…
Retail execution can mean a variety of things depending on your role in the organization, which makes it difficult to understand the full capabilities of a retail execution and monitoring solution. Gartner defines it as: those activities that are executed by manufacturers or their channel partners at the store level. This covers a wide range of activities, all of which are focused on selling as much of the manufacturer’s product as possible.”
In the 21st century, that means using robust field technology and mobile analytics designed with in-store optimization features that push those sales forward. Take, for example, store visit optimization, retail activity optimization and route optimization all three are focused on selling more product by making existing processes more efficient and more effective.
If you’re thinking Retail Execution and Monitoring (REM) sounds very similar to Trade Promotion Optimization (TPO) or Customer Relationship Management (CRM) you’re right, there is some overlap. But think of REM as more focused around the last few steps of execution that complete the sales cycle or if you like football; converting a touchdown versus a field goal in the red zone. As TPO is strictly focused on promotions planning and management and CRM is what you use to manage and track your clients’ orders, and communications. So what does REM do?
A lot. Route optimization, for example, trims time off of store visits by making sure sales reps have the most direct route from one store to the next. That may sound small, but consider if five minutes is lost on each call by making a wrong turn or looking up directions. That’s five minutes for each call, for each rep, every day, that is now spent on something productive like improving on-shelf availability or selling in new promotions of a new item. That adds up fast. REM data integrated solutions makes sure your reps have the information they need to address issues they see at the store without wasting time communicating up and down the chain of command. It empowers them to act in real time. And there’s more like guided selling, call alerts….
The Benefits of a Retail Execution & Monitoring System
- A boost to in sales from guided selling capabilities
- Improved sales force in-store execution and partner collaboration
- Insights into competitive landscapes through data collection
- Global outreach and management across markets in reports
- Inspect the expected without removing focus around retail execution
When Should You Look into a REM Solution?
- When you want to understand how your brand is being perceived at the shelf
- If you need to control your promotions and maximize your marketing trade spend
- When you want to provide your reps with guided selling and retail activity optimization solutions
- If you need to control and manage your distribution across all accounts
What you’ll need to launch your REM Solution
- Management buy-in at the top and a realistic roll out period
- A defined scope and list of Key Performance Indicators (KPIs) to track
- A workforce of some type equipped with mobile devices and field experience
So how does a REM solution reshape your sales force structure and grow your brand presence at retail in detail? We’ll cover what features and functionality are needed in the What REM Solution is right for you.
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