RepSpark Systems along with Third Wave Business Solution and Argentis recently hosted a webinar on critical strategies for sales growth. Response has been amazing so we thought you may be interested in some of the main points.
Critical Strategies for Sales Growth in 2014: The Importance of Accurate, Timely and Actionable Information
Retailers are under more pressure than ever to meet customer expectations. Any delays in providing them with the information they need to make purchasing decisions can result in missed opportunities and a drop in your revenue. In order to succeed in this new environment, you must empower your sales reps by providing them with accurate, timely and actionable information to make the sale and grow your business
Retailers in Today’s Economy
- Need for speed
- Multiple smaller orders for same amount of goods
- The burden is placed on the reps and customer service to handle the increased number of orders
- $250 Billion Spent Per Year yet 85% of decisions are made at POS.
- Consumers have changed.
- Immediacy, transparency, information and ease of business
As retailers rethink their approach to the consumer, some risk and responsibility is shifting to the manufacturer. Retailers want to work with suppliers that:
- Don’t make mistakes
- Make it easy to order and receive product
- Have reps that understand their business and product
- Keep their promises
- Will build long-term partnerships
Growth, Growth, Growth
· Over 65% of Sales Managers and 45% of CEOs felt that sales growth and product innovation, respectively, were more important in than other disciplines.
o Source: Accenture – Emotional Intelligence Report Profitable Growth Report
· The top priority of sales executives called out Top-Line-Sales-Growth as imperative for survival in these tough times.
o Source: CSO Insights – Sales Performance Optimization – Survey results and analysis
· Driving revenue is the top priority of sales executives.
o Source: CMO Reality Check – CMO The Resource for Marketing Directors
Keys to Sales Growth
- Great strategic branding plan
- Dedication to serving customers and consumers
- Highly innovative product
- Excellent branding and marketing
- High operational standards
- Great culture & high quality people
- Tight financial management
- And, most of all – INFORMATION
Information comes from your ERP, but how do you get it to your sales force?
- Solid ERP
- Specific for footwear/apparel/accessories
- Real-time sales solution
ROI of an SFA Solution like RepSpark Systems
- Streamlining the sales process to increase efficiency (RepSpark customers have seen a 45% improvement on inventory turns-At once orders from placement to shipment)
- Reduce customer service costs/sales volume- (RepSpark customers have experienced double or tripling in size without adding additional CS reps)
- Reduce order error (RepSpark customers have experienced 95% reduced errors)
- Increase efficiency (RepSpark customers have experienced 300% faster order entry from meeting with an account to shipment from the warehouse)
- Increase knowledge for both reps and retailers
- $ Saving- Fewer printed catalogs (varied greatly by account)
To view the full webinar, click here.
