Managing Large format Retail Stores in Consumer Electronics

www.consult4sales.com
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Why Large? Why Extra Large?
Why do you call some account
as Large format store?

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How many Large accounts do you handle?
Why are they Large accounts?
Name of
Manager
No of Large accounts
handled
Why do you call them Large accounts?
(Tick your choice. Choose any one that suits you best)
ABC X The billing per month (Sell In) is higher than a critical value predefined.
The rotation of stock /month (Sell Out) is high thereby leading to high ROI.
The size of the store is very big. The godown is big and hence can stock good
inventory (Sell Through)
The financial capacity and will of the store owner to invest in goods is high.
The footfall / day in the store is high leading to high opportunity
The location of the store is central and hence has highest opportunity.

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Supplier I Major Supplier I Strategic Vendor
What is your relationship with
a Large Format store?

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Suppliers & Strategic Vendor
Large Format
Store
Large Format
Store
Supplier
Supplier
Big Supplier
Big Supplier
Strategic
Vendor

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What do you do to become a Strategic
Vendor?
Name of
Manager
No of Large accounts handled Yes / No
1 Help in Demand Forecasting so that Sell-In reflects the true market demand.
2 Maximize rotation time by minimizing the Week of Stock (WOS) by catalyzing Sell-Out
3 Assist in Footfall Analysis at the store.
4 Keep all shopfloor sales staff suitably empowered, engaged and enthusiastic so that
they maximize Closing Ratio between Footfall to Order.
5 Share and implement quarterly BTL Marketing Plan in a way that the store owner
connects the same to measurable results.
6 Feed Store Owner with Market Intelligence (MI) and Market Sensing (MS) reports
7 Ensure that Status Quo is never the end result of business

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D.I.L.O. ( Day In The Life Of ! )
Do you have the time?

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Prepare and Stick to your DILO
Pre
Office
10 - 12
2 - 4
5 - 7
Post
Office

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Inputs for DILO
Pre Office hours 10 -12 2 – 4 5 – 7 Post Office hours
Social Media Posts Listen to Boss 1st Market Visit
as per P
JP
2nd Market
Visit as per P
JP
Check Email
Check MIS & Email Communicate with Channel
on phone
(Programmed
Journey Plan)
Conduct EOD (End of Day)
meetings with erring outlets
List VED(Vital, Essential
and Desirable) action
points for the day
Appraise self with stock
status for the day
Conduct SOD (Start of
Day) meeting with sales
team

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10 commandments for DILO Compliance
Start Early. How early?
Attack work or else work attacks your time.
Do things right first time , every time.
Follow the 4D principle – Delete, Defer, Delegate & Do
Do not carry forward work to next day, come what may.
Show empathy to peers so that they help you on time.
Use technology. Do not tax memory to remember things.
Avoid parking work in your own garage.
Do not do your home work in class and Vice Versa.
Punish yourself whenever you break your DILO.

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Master the 4D
Do Defer
Delegate Delete

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Tame your Mobile Phone?
A Sales Manager wastes at least 4 – 5 hrs.
everyday on mobile phones!

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Incoming Call
Selective No unknown Nos.
Planned Unplanned
Outgoing Call
Carry non Smart phones Schedule in DILO
Other Attractions

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Focus on Process, Not the Results!
What is the Process?

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Action Selling

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If you cannot Measure it, you cannot Improve it!
What are the Metrics to track?

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Sales Metrics
Fill in the blanks below:
Visibility ROI Footfall
Management
Sell Out Life Time Value
Planogram
Brand Recall
Brand Association
WOS
Cash / Credit Cycle
Closure Percentage
Pipeline Engagement
Cross Selling
Up Selling
Number sold
Value sold
CLTV
Net Promoter Score
Loyalty Index
Referral Index
SKU Velocity Category
Momentum
Market
Penetration Index
(MPI)
Footfall
Generation Index
Stickiness of
Customers

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You can never satisfy a Retail Partner Fully.
How do you manage
relationships?

Share and Fulfil Expectations.
No Surprises!
19

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How do you fight menace of
Digital Sales?
When to walk away from fighting a Digital
Sales used case study?

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Sells Value
Price Value
Emphasizing Value Over Price
Of buyers will pay more for a better
Customer Experience
86 %

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Offer Phygital Market Place
Maximize Physical Touchpoints.
Listen to Social Conversations.
Customer Loyalty Program.
Customer Gifting Scheme.
Make customers interact with each other and learn.
Curate, buy back and scholarships to deserving customers

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Do you fight for Mindshare?
Wallet Share is a bickering which many
Sales Managers do.

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How do you become a Trusted Partner?
High
Low
Low High
Share of Client’s Mind
General
Contractor
Trusted
Partner
Friend
Transactional
Expert
Share
of
Client’s
Wallet
Mind Share Usually Leads to Wallet Share

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Handling Bulk Deals in a
Retail Store
Institutions I Schools I Hospitals I HoReCa I
Hospitality I IT Sector

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What is the Outreach Index?
CRM Software
Email Marketing
Social Media Marketing
Backlink generation from social media
Digital Marketing and e commerce
Key Accounts not mapped to KAM’s
Home demos.
Tele calling
Quarterly BTL Marketing Plan
Direct Mailers
Content
Team
MIS

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The buck stops here!
The Attitude of a CEO?

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How to become a great CEO
Get Clear on the big picture.
Don’t major in minor things.
Your company culture and values are always major items.
Share your vision for the company with your team.
Craft your written quaterly plan of action- every quarter.
Hold your company accountable to acting on its priorities, stated goals, and values.
Build and groom your leadership team.
Learn to ask what’s important.
Focus on stakeholder value.
Tell stories.
Have a deep sense of purpose.
Be the gatekeeper.
Set high goals. Don’t start small.
Self-reflect and step up.
Serve others.
Develop a thick skin.

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The power of Everyday!
Read Step No 1 – 9 Everyday

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Checklists
A DIY Kit for Managers in large format Retail Stores

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S.No. Action Yes/No
1 Headcount
2 Trained
a) Understands product features
Empowered
a) Understands product Features, Advantage Benefits (FAB)
b) Pitches WIIIFM (What is in it for me?) answer to Customer
c) Understands WOS, Price Laddering, Model Mapping Catchment Analysis
Expert
a) Can help the customer reach the T.I.N.A. (There is no Alternative) point
b) Understands ACTION SELLING SYSTEM
c) Closing Ratio is acceptable
3 Hygiene / MOT Skills / Display review / Schemes Offers Knowledge/ Visual
Elements
SSE

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SSE Management
S.No. Action Yes/No
1 Start of Day (SOD) on time
2 Makes use of ”Happy Hours” positively
-Tele calling / Emails / Home visits / Home Demos
3 Conducts Daily Footfall Analysis
4 Ensures the right display and store hygiene for the brand
5 Listens with eyes (Market Sensing) and See with your ears (Market Intelligence)
during peak footfall time
6 Conducts BTL activities to congregate target group of customers (Existing or New)
7 Maintains MIS of every footfall handled, closed, lost and pipeline
8 Participates actively in all training program conducted by company
9 Reports in End of Day (EOD) meetings
10 Drives self for target achievement. Has solutions to problems

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S.No. Action Yes/No
1 Planogram in place
2 Replenishment of Planogram happens on time
3 Point of Purchase (POP) Display is as per directives of Marketing dept
4 Assessment and Learnings from Planogram of competition
10 Can even a blind person get to know about the schemes and offers running for your brand in
the given store?
Display Management

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S.No. Action Yes/No
1 Who does What? Mapping . Is it done for the family which owns the XL Store?
2 Each active member of the family in the store is active and engaged.
- Regular training programs in their respective area of core competency
3 Expectation Matrix of each active member is mapped and requisite action taken
/ communicated to the stake holder.
4 No surprises for Stake Holders. If yes, how many and why?
5 Why the Sell-In is what it is? Brainstormed and Documented
6 How will the Sell-Through be managed? Co-Created and Discussed
7 What is the plan for Sell-Out? Co-created , Discussed and Endorsed
8 What are the plans for brand visibility in the store? Intimated
9 Remember, Recognize Reward all stakeholders.
( Birthday, Anniversary, Small achievements, Big Achievements)
10 Actively Consult on “how the store owner can increase his business?”
(Add value as a consultant and not as an Area Manager)
Store Owner Management

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S.No. Action Yes/No
1 List of SKU wise velocity. ( Not speed). Own brand , Competing brand
2 Focus for increasing velocity
3 Plan for increasing velocity
4 Appoint Velocity Champion in the store
5 Empower Velocity Champion on “The How” behind the “The Why” and “The What”
6 Track success and failures through MIS
7 Discuss failures with boss on weekly basis
8 Treat weekend as month end and achieve weekly targets
9 Fuel external energy for setting pace of velocity
10 Ensure that SKU’s (Stock Keeping Units) with good velocity gather momentum
SKU Velocity Management

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S.No. Action Yes/No
1 How many footfalls ? Time zone wise , Category wise , source of info wise
2 Type of footfalls - SEC A , B and C ( SEC = Socio Economic Class)
3 Lost case Analysis with Reason code
4 Winning Analysis for cross selling opportunity and Life-Time Value
5 Win list of competitors for Cross Selling tele calls
6 Sales Funnel of the store for each category of goods.
Footfall Analysis

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Sell Out Management
S.No. Action Yes/No
1 Footfall Handling – Closure, Pipeline Lost
2 Average number of units sold 1
3 Sales Pipeline followed up very closely . No leakage in Sales Funnel?
4 Create footfalls for self brand – Preferred walk in’s
- Tele-calling / Email Marketing / Digital Marketing / Direct Mailers /
Home Demos / Pipeline follow up / Maximise Outreach Index
5 Home visits for Customer Satisfaction Index (CSI)
6 Telephone calls for customer feedback
7 Mastery of Demo and use of T.I.N.A. sales closure technique
8 Conscious effort to elevate SSE from Trained to Empowered to Expert status respectively
9 Prepare for “On season” in “Off season”
10 Play to Win!

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In a Nutshell
Become a Strategic Vendor to Large Accounts
Master and Respect your D.I.L.O.
Follow a Sales Process to reach Results
Total clarity on KPI and the Metrics which drive them.
Managing Relationship with Store owners
Fighting the menace of Digital Sales
Gain Mindshare, not Wallet share
Bulk Deals through Outreach Program
The Attitude of a CEO
Checklists – Review Steps 1 – 9 by making use of checklists everyday

Thank You......
URL: www.consult4sales.com
www.youtube.com/consult4sales
www.instagram.com/sanjay4sales
www.linkedin.com/sanjay4sales
www.twitter.com/followsanjay
email: sanjay@consult4sales.com
Mobile no 9970506000
Sanjay Singh, The Sales Coach
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Managing Large format Retail Stores in Consumer Electronics

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