Benefits of a sales incentive for fast moving consumer goods

Posted by Kevin Chamberlain

Savvy heads of business know that however large and recognisable your brand is, to stay ahead of the game you have to have a point of difference.

While household name status may drive consumers your way initially, they are becoming an increasingly well-informed group, researching and seeking advice on more and more purchases.  With this in mind, the more your resellers can become advocates of your brand and your products, the more sales you are likely to make.

With plenty of competitors out there, getting the retailers on-side may seem like a challenging objective, but we have some clever ideas to keep this process simple and effective.  To develop the relationship with your key resellers you want to ensure that lines of communication are open and that they are engaged with your brand and informed about your products.  The implementation of a Trade Partner Programme can help massively, putting processes and actions in place to maintain it.

What is a Trade Partner Programme?

A Trade Partner Programme is about encouraging your channel partners to proactively support your brand.

Given that they will be selling and promoting numerous competitors as well, you need to find a point of difference that will encourage them to prioritise you.  Our programme technology, MyRewards, can be tailored specifically to brands dealing in Fast Moving Consumer Goods (FMCG) and introduces a way for your partners to benefit from selling your products.

Using a points-banking system, the more they sell, the more points they acquire, and points convert to prizes.  Retailers then have the option to redeem these points against a reward, such as iPads, TVs, jewellery, experience days or vouchers, or deploy the scheme internally for staff, using the points or prizes as internal motivators for their own teams.

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How does it work?

To engage with the retailer, it’s worth setting some specific KPIs up front, so that you can encourage the particular behaviours that will most benefit your brand.

This might centre around shelf space – checkout position or percentage ratio of product on the shelf, it might relate to price point – a set RRP for brand consistency, or you could set training targets to guarantee that the sales team knows your brand inside out.

Whatever is important to your bottom line can be communicated and set as a KPI.  Plus, the programme is flexible enough to apply to all sorts of customers, including supermarkets, high street stores, wholesalers, independents, even indirect channel partners such as restaurants.

A Trade Partner Programme can boost channel relationships, as engagement levels will be high and partners can feel a positive association with your brand.

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What are the benefits?

The implementation of a Trade Partner Programme can have a big impact on sales, increasing market share and boosting brand reputation, as your messaging will be regularly communicated through your partners, with the added credibility of third party endorsement.

The inevitable improved knowledge of your range will also make the sales team, and your products, seem more reliable.

A MyRewards programme can scale to any size of business and is flexible enough to accommodate new product introductions or seasonal campaigns.  An additional benefit is that all progress can be tracked via an online dashboard reporting tool, so you – and your partners – can easily monitor progress, and identify areas of improvement and success.

Does it really work?

A great example of MyRewards in action for an FMCG brand is the B2B points banking programme set up by quality appliance company Hoover.

In a saturated market, the need to cut through competitor noise and encourage the sales of Hoover products through independent retailers was identified.  We built a platform to accommodate 102 Hoover SKUs that allowed retailers to upload proof of sales made using a self-claim form.

Hoover stakeholders could review these and allocate points for each SKU, tiered according to the percentage of wholesale value.  The more products sold, the more points awarded.  The scheme also incorporated a ‘refer a business friend’ function and tactical promotions like double points and prize draws. This programme helped to generate a 270% increase in sales logged year on year.

Whoever your target partner is and whatever the sales challenge you are facing, a Trade Partner Programme will enable you to work together with your partners in an informed and positive way.  By making your results matter to your partners, you will naturally see an increase in sales and a stronger relationship with your retailers.

How can we help you get the most from your sales incentive?

Sales incentives are important for any business looking to drive sales and improve performance across their sales channels. The right incentive can help make your business more memorable to external sales teams and help them to more readily recommend your business, products and services to their customers.

At CR Worldwide, we quickly design, launch and optimise powerful incentive programmes that drive increased sales in your business. Our sales incentive schemes are:

Easy to manage — Our programmes offer real-time reporting in participation with ROI and budget management. This means you can efficiently manage, organise and track performance and the value of your incentive schemes.

Easy to implement — Our turnkey MyRewards platform can be tailored to suit your requirements, meaning you can be ready to implement sales incentive schemes fast. Making them perfect to launch alongside a new product or in response to competitor sales activity.

Easy to use — Our platforms are made to be straightforward, so your staff can easily work towards their targets and the rewards up for grabs, track their performance and compete with their colleagues.

We’d love to excite, engage and inspire your staff and external sales teams with our sales incentive schemes. To speak to a member of our award-winning team:

Or visit the contact us page to make a quick online enquiry to find out how to drive your business performance today.