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Episode 27: "Finding the Hidden Gold: Optimizing Retail Space and Uncovering Sales Gaps"
In this episode of Tapped In Sales, Bud and Mikey dive into the critical topic of optimizing retail space and identifying sales gaps that could lead to untapped sales opportunities. Whether you're a seasoned sales rep or just starting out, this episode is packed with actionable insights to help you maximize your impact at retail.
Key Takeaways:
No Perfect Account: Even accounts that look perfect on paper often have hidden opportunities. The key is to never stop evaluating and improving.
Opportunities and Gaps at Retail: Learn how to identify sales gaps—empty shelves, underrepresented categories, or missed promotions—and how to leverage these gaps to drive incremental sales.
Expanding on What's Working: Instead of constantly bringing in new products, focus on expanding space for the products that are already selling well. Bud shares a real-world example of how this strategy increased sales by an entire pallet in one account.
The Power of Small Adjustments: Mikey talks about the importance of making small, strategic changes during every account visit. Whether it’s moving a product for better visibility or expanding shelf space for singles, small tweaks can lead to big gains.
Trust and Communication with Retailers: Building trust with your retailers is essential. Bud shares a key negotiation strategy from Chris Voss's book Never Split the Difference on how speaking to the negative can make it less negative and how to communicate tweaks and improvements to foster better relationships with your retailers.
Leveraging Technology: The episode also touches on using technology, like VXP, to analyze product performance and make data-driven decisions about optimizing space in accounts.
Why Listen? If you’re in the business of managing retail accounts, this episode will give you practical tips on how to fine-tune your approach, optimize shelf space, and ultimately drive better sales performance. Bud and Mikey bring a wealth of experience and hands-on strategies, helping you get the most out of every retail visit.
Chapters
00:00 Introduction to the Tapped In Sales Podcast
02:55 Exploring Opportunities and Gaps in Retail
05:29 The Imperfection of Accounts
08:16 Identifying Opportunities in Accounts
11:18 Optimizing and Expanding Product Space
11:46 Building Trust with Retailers
14:36 Optimizing Product Space and Inventory
17:29 Strategizing Account Management
20:43 Communicating Success and Opportunities
23:32 Leveraging Technology for Account Analysis
26:46 Continuous Improvement and Opportunity Identification
Subscribe and Listen:Listen to Tapped In Sales on Spotify, Apple Podcasts, YouTube, or wherever you get your podcasts.
Don’t forget to check out Bud’s recent guest appearance on Beer Net Radio: https://youtu.be/tvXyxOMYw7s?si=S8Hu76i1QCoBHQEf
YouTube: Watch on YouTube: Tapped In Sales
Spotify Podcast: Listen & Watch on Spotify Podcasts Tapped In Sales
Apple Podcasts: Listen on Apple Podcast Tapped In Sales
Connect with Us:Follow us on LinkedIn for the latest episodes, industry news, and insights from the beer distribution world.
About Tapped In Sales: Tapped In Sales is a podcast dedicated to beer distributors and beverage industry professionals who are looking to elevate their sales strategies and drive profitability. Hosted by industry experts Bud Dunn and Mike Hall, we dive deep into real-world stories, actionable insights, and the latest trends to help sales teams and managers unlock their full potential. Each episode blends data, strategy, and motivation, making complex topics easy to understand and implement.
This podcast is powered by VXP Tech – the leading Sales Strategy Management system designed for beer distributors. VXP simplifies the complexities of goal setting, variable compensation, and sales team performance, helping you master your market and grow profits, case by case.
If you enjoyed the episode, don’t forget to subscribe, leave a review, and share it with a friend!
View all episodes
By VXP Tech
5
77 ratings
In this episode of Tapped In Sales, Bud and Mikey dive into the critical topic of optimizing retail space and identifying sales gaps that could lead to untapped sales opportunities. Whether you're a seasoned sales rep or just starting out, this episode is packed with actionable insights to help you maximize your impact at retail.
Key Takeaways:
No Perfect Account: Even accounts that look perfect on paper often have hidden opportunities. The key is to never stop evaluating and improving.
Opportunities and Gaps at Retail: Learn how to identify sales gaps—empty shelves, underrepresented categories, or missed promotions—and how to leverage these gaps to drive incremental sales.
Expanding on What's Working: Instead of constantly bringing in new products, focus on expanding space for the products that are already selling well. Bud shares a real-world example of how this strategy increased sales by an entire pallet in one account.
The Power of Small Adjustments: Mikey talks about the importance of making small, strategic changes during every account visit. Whether it’s moving a product for better visibility or expanding shelf space for singles, small tweaks can lead to big gains.
Trust and Communication with Retailers: Building trust with your retailers is essential. Bud shares a key negotiation strategy from Chris Voss's book Never Split the Difference on how speaking to the negative can make it less negative and how to communicate tweaks and improvements to foster better relationships with your retailers.
Leveraging Technology: The episode also touches on using technology, like VXP, to analyze product performance and make data-driven decisions about optimizing space in accounts.
Why Listen? If you’re in the business of managing retail accounts, this episode will give you practical tips on how to fine-tune your approach, optimize shelf space, and ultimately drive better sales performance. Bud and Mikey bring a wealth of experience and hands-on strategies, helping you get the most out of every retail visit.
Chapters
00:00 Introduction to the Tapped In Sales Podcast
02:55 Exploring Opportunities and Gaps in Retail
05:29 The Imperfection of Accounts
08:16 Identifying Opportunities in Accounts
11:18 Optimizing and Expanding Product Space
11:46 Building Trust with Retailers
14:36 Optimizing Product Space and Inventory
17:29 Strategizing Account Management
20:43 Communicating Success and Opportunities
23:32 Leveraging Technology for Account Analysis
26:46 Continuous Improvement and Opportunity Identification
Subscribe and Listen:Listen to Tapped In Sales on Spotify, Apple Podcasts, YouTube, or wherever you get your podcasts.
Don’t forget to check out Bud’s recent guest appearance on Beer Net Radio: https://youtu.be/tvXyxOMYw7s?si=S8Hu76i1QCoBHQEf
YouTube: Watch on YouTube: Tapped In Sales
Spotify Podcast: Listen & Watch on Spotify Podcasts Tapped In Sales
Apple Podcasts: Listen on Apple Podcast Tapped In Sales
Connect with Us:Follow us on LinkedIn for the latest episodes, industry news, and insights from the beer distribution world.
About Tapped In Sales: Tapped In Sales is a podcast dedicated to beer distributors and beverage industry professionals who are looking to elevate their sales strategies and drive profitability. Hosted by industry experts Bud Dunn and Mike Hall, we dive deep into real-world stories, actionable insights, and the latest trends to help sales teams and managers unlock their full potential. Each episode blends data, strategy, and motivation, making complex topics easy to understand and implement.
This podcast is powered by VXP Tech – the leading Sales Strategy Management system designed for beer distributors. VXP simplifies the complexities of goal setting, variable compensation, and sales team performance, helping you master your market and grow profits, case by case.
If you enjoyed the episode, don’t forget to subscribe, leave a review, and share it with a friend!
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