No retail brand can deny that sales executives at the retail stores are the best influencers for the customers during the purchase.
We all know that there is fierce competition among consumer goods brands to grab the market. Nowadays, end-consumers have plenty of brand options that are similar in quality and features.
So how can you make sure that customers choose your brand?
Here, retailers play a significant role in promoting a particular brand over the other. And retailers tend to promote brands that give them some extra benefits. Benefits could be in the form of lower wholesale prices or volume discounts or rewards.
It makes a lot of sense for the brands to collect the retailers’ data to influence them to promote your brand continuously.
Why should you collect your retailers’ data
Data, data, and data; all the successful businesses nowadays understand the importance of data and try to collect each and every bit of it that relates to business.
Earlier, not everyone was able to collect the data from all possible channels, as it was challenging to store, manage, analyze, and draw conclusions from it. But the technological advancements have now made it easier and economical. The effective RoI of digital marketing has kind of made data collection mandatory for businesses to grow their sales.
Retailers are vital participants in the supply chain and are the ones who directly interact with your end-consumers. Here are the top reasons why you should collect your retailers’ data.
Supply chain visibility
Supply chain visibility ensures that the manufacturer knows the status of the inventory in the supply chain. Gathering the retailers’ data helps brands in adding more visibility to the supply chain.
Personalized connection with your retailers
In the present digital era, personalization is very important. Brands can create a personalized connection with the retailers and engage them with the right message.
In the present highly competitive market, the consistent and pleasant customer experience at each selling point is very crucial. If brands are directly connected with retailers, they can ensure that all retailers are aware of the guidelines for better customer experience.
Track their sales record and predict the demand
Retailers’ sales data can also help brands to predict the demand and plan production accordingly. This data also helps in coming up with the right marketing strategy to further increase sales.
Their feedback can help in product enhancement
Since retailers are the ones who directly connect with the end consumers. They understand the consumer problems very well. So, retailers’ feedback can help greatly in product enhancement. And brands can collect their feedback only if brands have their retailers’ data.
How should you collect your retailers’ data
Now we know that retailers’ data is very crucial. The question that arises next is – what is the best way to collect retailers’ data.
Retailers’ data will be the most accurate and trustworthy if it comes directly from the retailers, which needs the direct involvement of the retailers. And the retailers will not mind providing their information if they too benefit by providing their data. So the most efficient way to engage the retailers is to run loyalty programs for them. The brands can directly incentivize retailers through loyalty programs when they achieve sales goals.
Loyalty programs are beneficial for the retailers as well as the brands. Retailers get incentives from the brand on selling brand products, and the brand gets accurate data from them.
NeuroTags provides a highly advanced multi-level loyalty engine to engage all the participants in the supply chain. Brands can customize and run loyalty programs to influence and incentivize consumers, influencers, retailers, and distributors.
Please contact us to know how NeuroTags technology helps brands to collect retailers’ data.