The 2016 Retail Execution Road Map to Success – Part 2
The high demand for improved retail execution solutions lead RW3 to design the 2016 Retail Execution Road Map to Success, built around the CPG industry and today’s field reps. By following the five steps below your retail execution strategy can go from the boardroom’s whiteboard to full in-store sales force implementation in just a few months.
- Set-Up Your Targets (1 Month) – It’s essential to define your retail execution goals in 2016 and be specific, using achievable quantitative measurements. Remember, every point increased in compliance could translate to thousands per promotion and every point in sales lift could be worth millions depending on your portfolio. Setting targets will allow you to measure your success and focus your retail execution strategy moving forward. Use the categories below to get started:
Sales Force Implementation | Promotion Compliance | New Item Launch | Category Management | On-Shelf Availability | Account Management | Product Distribution | Broker Compliance | Walmart – Retail Link
- Learn From the Best (2.5 days) – Book a ticket to Austin, Texas March 29th and attend the 2016 Executive Peer Group Summit. The EPG Summit is focused on collaboration and sharing best practices at retail. There are not too many events held where you can not only hear talks from but also have one-on-one discussions with companies like Kellogg’s, Nestle, King’s Hawaiian, ConAgra Foods, and Daisy Brand all centered around the topics mentioned in step 1. By the end of the event you’ll leave with ample knowledge and insights as well as an idea of what direction you can take your organization within a feasible timeline.
- Design Your Game Plan, Select Your Data (1 week) – Set up a one-on-one meeting with RW3 to help you break down your objectives, identify your goals and work with your executive team to design KPI’s that will best measure your success throughout the process. The RW3 In-Store Suite provides the flexibility and innovation that sales teams need to make a significant impact at the shelf and utilizes POS and other data sources to drive your reps activity. These design meetings will provide you with insights on how the rep can handle various activities and learn everything you can accomplish with the suite alone.
- Implement and Adjust (1 Month) – No game plan is perfect. Once the in-store solution has been implemented, you need to identify what’s working and areas that could be improved for your team. This can vary from daily tasks to specific process and incorporating new features such as the photo gallery. Use this time to be open to new ideas and look for opportunities to simplify your strategy.
- Execute, Analyze and Improve (3 months) – This is the most critical step and the one that many organizations continuously fall short on because their previous solution did not have the capabilities or the overall process was to complex. Now that you have implemented the In-Store Suite, everything is running smoothly and your team has made it over the learning curve, you can start to compare the data against your targeted KPI’s and analyze the results with tangible insights. The In-Store Suite goes beyond most applications’ ability to collect and analyze data, it enables you to take action, make adjustments and then improve. Your strategy must by dynamic, as you will learn new strategies or have new ideas throughout the process. To help you continuously improve your strategy, RW3 schedules annual business meetings to review the complete process and will work with your team to provide the perfect field solution for your organization.
By following these 5 steps early in 2016 you could be rolling out your new sales strategy focused around promotion compliance, broker management, and account collaboration in early May.
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