It’s Not Luck! It’s Innovation
Executing at retail is paramount to the success of any brand. The more stores a rep can visit and perform daily retail activities the better but with a finite hours in a week a rep needs to know where to go and what do before they start their sales calls each day. A well thought out data strategy can be the difference between a 1 -2 to a 4 – 5 percent lift in sales per quarter.
REA or RAO, Is There a Difference?
Yes! You can have REA without RAO, but you can’t have RAO without REA.
Retail Execution Activities, or REAs, are basic tasks a field rep can conduct when visiting a store. Retail Activity Optimization, or RAO, as Gartner defines it, means, “using recent (daily or more frequent) point of sale (POS) data to determine which stores to visit, what do to while there to drive the greatest return on resources and the best sequence for reducing drive time. RAO not only optimizes in-store execution, but also reduces cost factors, such as fuel and the personnel costs associated with visiting locations where there is low or no need.” In other words, RAO supplements your field solution with smart analytical planning through live data streams.
Do These Field Sales Questions Sound Familiar?
– Which accounts have the greatest sales lift opportunity?
– Which accounts should be visited first?
– What corrective action should be taken during the store visit?
– Which product categories should be promoted at a specific store?
– How can shelf space be increased in select product categories?
If you can’t easily come up with an answer to those questions, we need to talk about RAO.
What are the Benefits of Retail Activity Optimization?
RAO takes your basic REAs to the next level and generates a higher return at retail. Let me explain…
Increase Rep Efficiency
Mobile field applications such as MarketCheck and SmartCall, allow your field team to focus on high-opportunity accounts first. For example, SmartCall will alert your sales rep if there is an alarming amount of out-of-stocks (OOS) at a key account that needs to be addressed. The rep can then visit the store ASAP and take corrective action rather than spend time and effort at low opportunity accounts.
Improve Sales Performance
You spend millions on marketing and trade promotion. Retail execution apps like MarketCheck can help you conduct audits and store surveys to ensure promotion compliance at stores that have just been merchandised. Not only will you manage your presence at retail but see a lift in sales by enabling your field team to spend more time brand- and business- building.
Targeted Data For Specific Location
Data is a field reps biggest ally, and if portrayed in a report correctly can help a rep sell in new items, adjust existing orders, or capture more shelf space. Custom reports and dashboards can highlight the greatest potential for growth, allowing you to quickly act upon opportunities at store level and identify trends in your market.
RAO can boost overall ROI but you need to incorporate today’s innovative technology. When implementing a REA solution, remember to look for advanced capabilities including geo-tagged photos, real time data analytics, and custom KPI alerts to maximize RAO.
Latest posts by Seth Nagle (see all)
Comments are closed.