The Fast Moving Consumers Goods (FMCG) market is very competitive in today’s world. Companies in this field have to continuously recognize rapid changes in customer tastes and preferences - be it the food & beverage industry, personal durables or household care. The evolution of purchasing habits and the rise of cutting-edge technologies are improving the way FMCGs communicate with consumers.
Sales of an FMCG business are the same as a see-saw, where each side must be balanced to keep equilibrium. In this case, quantity and cost are the two sides that require to be evened out to reach the required sales target.
Being a very competitive market, every company strives hard to increase their sales and revenue. We are going to give out some tips and techniques for the same.
Purchasing habits of consumers are changing rapidly and knowing the consumer behavior towards your product is of utmost importance. Build your own strategy to know more about customer behaviors. This will help you capture market share and stand in the market as a leader. Using sales automation software can also help you in getting insights about sales and customer behavior at your fingertips.
To promote a brand/product, it’s necessary to define the margins of dealers who would buy the goods with cash or credit to distribute it further. Keep in mind that they might want to offer a discount to their customers, so consider this in the pricing strategy. To encourage a larger purchase by dealers, offer them a quantity discount. Offering commission to them after reaching their targets can boost revenue.
For a sales representative, time is the most precious resource. However, spending countless hours in decision making or planning routes is a waste of time that could be spent on potential leads and closing deals. Using a great employee location tracking application saves countless hours and ensures optimal routes.
There is no doubt that adopting digital tools means saving time and unlocking innovative ways of doing business. Digital transformation is what every business needs today. This not only increases engagement within the team but also gives better results, helps in proactive decision-making, improves customer experience and brings innovation in the product offering. A digital tool like a field sales app is the best way to connect stakeholders, distributors, salespeople and customers in a single platform.
The most important backbone of any business means reliability, approachability and convenience of after-sales services, warranty claims and possible refunds. Especially, company accessibility and quick responses to queries are very important. One happy customer would bring many new customers, while one unsatisfied customer would spook a lot of potential customers away. After-sales service helps in building a strong long-term relationship which leads to improvement in the profitability of FMCG companies.
Increasing sales and increasing company revenue only does not make the company profitable. To make more profit, a company should have a proper process to control operational costs. Until a proper process is in place, it is very difficult for a company to save unwanted costs. Bottom-up saving is a very essential part to increase FMCG companies’ profitability.
Sales automation is a process of streamlining manual, tedious, time-consuming tasks in the sales process so the sales team can concentrate less on administrative tasks and focus more on selling. Sales automation software helps in saving time and money - both of which are invaluable to businesses.
Thousands of companies around the world are automating their sales processes with sales automation solutions. The field sales force must have data on their fingertips to interact with the market. Readily available data like prices, schemes and contact details of retailers can help them utilize their time so they can focus on their core activity, i.e. selling.
We have a similar type of employee location tracking software especially designed and developed for FMCG, named Delta Sales App. This software is widely appreciated and accepted by multiple companies to enhance the productivity of their sales teams and automate their sales process, which has helped them multiply their sales.Date: Apr 01, 2020 Author: Minisha