Building Product Ranging – The Most Efficient Way to Increase Long Term Sales.
How good is your sales force at selling across you brand and product range? Are you actively measuring ‘ranging’ and setting targets?
Building product ranging in outlets is critical in today’s retail environment. Selling more products to your current customers is the most efficient way to build sales compared to the time and resources it takes to find new customers.
While most suppliers know this, in my experience, many are not great measuring or setting specific targets for reps around building ranging across their brand and product portfolio.
Building product ranging is an iterative process. It requires a deliberate and methodical approach to move customers that range one product to two products, customers that range two products to three products etc.
Obviously increasing ranging by as many products at once is better than one at a time. However this type of success generally coincides with a newly launched range of products or short term below the line promotional campaigns.
Identifying the product that is likely to deliver the highest sales for a specific customer is key to building ranging over the long term.
This can be as simple as suggesting the best-selling product in customers region (or rep territory) that is not currently ranged. The rep also needs to apply his customer knowledge and common sense to ensure his chosen product suits his customer’s retail offering and will appeal to his shoppers.
This approach delivers real value for the customer and builds long term credibility for the reps customer relationship.
When the newly ranged product sells well, the rep can suggest another product for the customer to the range on his next call!