Significant Ways to Strengthen Company’s Retailer Management
In the retail industry, the retailer management equation with companies is always changing. In competitive environments, building and maintaining loyal relationships with retailers is vital for all companies. The dynamics of companies and retailers are determined by various factors such as increasing mergers and alliances. The core factor that differentiates between the trusting and distrusting relationships between companies and retailers is the ability to make decisions for each other’s welfare.
Challenges faced by Retailers in India
Manual Order Booking
Manual Order Booking has its own pitfalls. It consumes more time, there is more potential for errors in the system, the fixed cost for organizations increases as manual handling increases. With automated order booking, all orders get streamlined in the same
No Direct Company Communication
Regular communication with dealers and retailers is crucial. It can provide both – day-to-day operational information and high-level strategic news. These are crucial for sales management of the company.
Instant Information Sharing
The problem of communication extends itself to information sharing between companies and retailers. Companies need to be able to share information with retailers. Live updates on inventory enable both – companies and retailers – to stay updated. Additionally, tracking order statuses become easier if everything is streamlined.
How to: Strengthen Company-Retailer Relationships
Here are four ways to strengthen the company-retailer relationships:
1. Creating Value
Companies and retailers work together on a cohesive goal – to achieve maximum value for their customers at best prices. Companies must frequently check in with retailers and talk about their current state of business, and upcoming market plans, priorities, and launches.
2. Innovative partnership
A constructive partnership promotes sharing of ideas and experiences. An innovative partnership not only gains volume and capacity of products but also disseminates good information about the product to leverage the same in the market. Companies understand product dynamics of the market and as a result, can place retailer orders according to current trends, understand the company and are updated with all of its industry trends.
3. Provide Valuable Tools
At times it is not possible to fulfill every request that retailers make, but it is possible to create the correct tools that will help them succeed in their problem. A sales management tool that results in regular updates to the retailers not only bridges any communication gaps but also improves the visibility of the cash position of the company. Such a sales management app will simplify the efforts and work by easily sharing the sales and customer data with retailers.
4. Know your Retailers
Companies spend countless hours and dollars on researching, surveying, and studying their customer audience to know about their habits and purchase behavior. The same is applicable when manufacturers are dealing with their retailers. It is advisable to conduct retailer surveys to know who your company is going to be dealing with.
Connect with Retailers through Cygneto Field Sales Management App
Cygneto field sales application gives you a platform where companies can reach out to their retailers. It is a convenient tool that can be used by teams across departments for field force management. Eliminate the struggle of manual order booking and sales reporting through field sales automation. Get assistance for retailer management where you can easily share order details, stock updates, ideas, and experiences, communicate seamlessly, and study the customer-retailer audience. Cygneto strengthens the relationship between the company and the retailers by providing them with the right sales automation to the company.
Cygneto becomes your one-stop solution for all the field sales automation related objectives. Strengthening the relationship will not only reduce retailers’ complaints but also improve the company’s investments through better insights. To get started, request a demo today!