People shop where they feel comfortable and want to be seen. With the rise of digital shopping, retailers are seeking ways to build in-store experiences that make customers happy. What are your customer’s biggest priorities? How can you provide them with a seamless experience at your business or online store?
The “where do customers go to buy the brand” is a question that is asked by many businesses. The answer can be found by looking at where your customers are shopping and what they want.
The thing I like about sales is that it’s simple to recognize success and incredibly tough to imitate it. Every sales team I’ve ever dealt with has had a mix of successful and failing sales people who offered results and excuses. Successful salespeople manage to produce month after month, seemingly unfazed by the excuses that beset non-producers. Channel and division sales are handled similarly to a traditional sales team. If you search hard enough, there are always reasons for failure. Successful channel sales teams disregard the excuses and focus on delivering results.
The retail channel was full with excuses a year ago. The store’s foot traffic was down. The economy was on the verge of collapsing. Customers were not willing to part with their cash. Palo Alto Software might have easily accepted the justifications as true. We might have been content with the fact that our sales were not as low as the other guy’s. We might have accepted that the market’s drop was due to causes beyond our control, that we couldn’t do anything to get it going again, and that all we could do was wait.
We, on the other hand, did not chose to accept the justifications. An in-depth analysis of the market identified a significant tendency. Sales were down in certain areas, but not all. Our clients had moved their shopping to a different location, but they were still shopping. This insight assisted us in identifying crucial retailers where we needed to expand our shelf space.
Big ticket products, niche items, and luxury goods all saw a drop in sales. Customers still needed to buy food, clothing, and home items, nevertheless. With this information, we tweaked our pricing approach, developed a new “impulse” product, and started distributing our software to convenience stores. Stores like Sam’s Club, Target, Costco, and others still had a lot of foot traffic, and we realized how crucial it was for us to be there.
Don’t be fooled by the explanations that a sales department might make. Customers are still buying from you. To get to them, you may have to go outside the box. You must learn about and follow their fashion trends. Never settle for a “if we build it, they will come” strategy. Find your consumers, research their behaviors, and reach out to them with your goods and services.
The retail channel might be the most difficult and time-consuming for your firm to sell via. Retail sales may be incredibly profitable if you have a product that appeals to the consumer and you can sell it where your clients shop. Thousands of businesses traverse this stormy canal in the hopes of making the most money. There isn’t a single other channel that even comes close.
Take a new look at the channel if you’re thinking of selling in retail or want to strengthen your current strategy. Begin at the beginning. Make certain you’re aware of your competitors, distribution, and pricing plan. Ascertain that you have the buyers’ attention, or that you have hired someone who can.
Above all, don’t allow your sales strategy to get stale. Your capacity to adapt rapidly to industry changes, and to react faster than your competitors, is critical to your retail success. If you handle your retail sales in a proactive manner, like Palo Alto Software did, you may discover that retail isn’t dead, but rather changing.
Palo Alto Software’s Channel Sales Manager, David Shear, is in charge of all academic, corporate, government, and retail sales. David came to Palo Alto Software from the banking business, where he worked for Indymac Bank, Optium Financial, and Rainland Mortgage as a regional and national sales manager; he has over a decade of experience in correspondent and wholesale mortgages.
David, who attended the University of Oregon Law School, is eager to remind out that although his first passion is the Oregon Ducks, sales is a close second.
Have you missed any of the previous installments in the series? Don’t worry, I’ve included the links so you can start reading right now! Retail is not extinct: Part One, Part Two, and Part Three are the first three parts in a three-part series.
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The “know what your customers want before they do” is a question that businesses should ask themselves. The answer will help you make decisions on how to best serve your customers.
Frequently Asked Questions
How do I find out what customers want?
A: One way to find out what customers want is by analyzing product reviews written on Amazon or other review sites. You should also collect customer feedback and carefully consider the suggestions they give you in order to determine which products are popular, so that your company can be more successful with those items.
What are customers needs and wants?
A: Customers who are looking for a way to exercise, enjoy music and have fun with their friends.
What do customers want from your business?
A: Not much.
- list of customer wants
- what do customers want
- types of customers in retail
- how do you find out the needs or demands for products of potential customers in your community
- what activities are involved in offering the products customers want?