Keep control of your retail execution strategy by using mobile merchandising software to monitor shelf space, in-store data collection and retailer compliance.
If you’re a B2B brand or wholesaler, it’s inevitable you will have some form of competition especially as the industry continues to grow. Competition can actually be a good thing as it may inspire you to improve your business further. Accept the fact that although you can’t control what your competitors do, you can certainly minimize their impact on your business.
One of the ways to stay ahead in this competitive environment is to make sure your retail execution is totally under control. Let’s take a look at how mobile merchandising software can help.
1. Make the most of your shelf space
Real estate on store shelving is tight. Retailers pack in as many products as they can to maximize their space and make the most money. You need to make sure your products stand out from the crowd. Some retailers aren’t as efficient as others in the management and control of this part of the business, but you can stay in control by using mobile merchandising software.
Keep an eye on inventory levels. Field sales staff can do real-time stock checks using a barcode scanner and processing immediate replenishment orders on their mobile devices, so you can be sure that your best-selling items will never run low and will be the ones filling the shelves.
2. Always be on top of in-store data collection
To stay ahead of your competition, you need access to all the relevant in-store information. What is actually happening in your stores? Are there any issues you need to address? Mobile merchandising software allows your field staff to capture data about everything – new product introductions, point of sale advertising, how well products are selling, what pricing works and more.
All this data can be reported back and analyzed by management for immediate action whilst the field rep is still out in the field. This means instant control of rectifying any problems and streamlined merchandising activities.
3. Real-time images
Following on from in-store collection of data, one of the best ways to collect it is by visual images. Field reps can use their device to take photos of storefronts, shelves, displays and promotional materials at your customers, as well as what your competitors are doing.
These images can be automatically geo-tagged, categorized and organized into libraries for easier management.
4. Are your customers in compliance?
One of the most challenging aspects of retail execution is ensuring your retailers are in compliance with your requests for how your products should be displayed. Capturing data as explained above with regard to product displays, correct pricing, planograms means you can easily keep track of retailers’ compliance with marketing strategies and any other contractual agreements.
5. Customer satisfaction
As the B2C consumer experience has improved, the B2B world has sometimes struggled to keep up. But customer satisfaction has become one of the most important metrics for brands and wholesalers. Happy customers are more loyal and more likely to invest in your products or services. Whereas dissatisfied customers cause brand damage, churn and lose you opportunities to earn more revenue.
It can be a difficult metric to measure but with merchandising software you can easily monitor how your customers feel about your products and services by creating customized templates of customer satisfaction questionnaires as well as market research surveys.
Mobile merchandising can make all the difference in beating the competition by streamlining your retail execution strategy and keeping you in control.