Most of us spend our days constantly looking to make a dramatic improvement in whatever project we’re working on. We see our competition getting ahead but can't seem to find ways in our busy schedule to keep up. This creates a lot of stress as a result and can act as a huge distraction in several areas of our lives.
To use a baseball metaphor, we're constantly swinging for the fences each time we get up to bat. We have a home-run or nothing-at-all attitude. Not only is this unrealistic, it sets us up for failure.
The point is, that sometimes, little improvements can add up to huge wins. Swinging for the fences and missing will not get you to first base.
The same holds true in business. One additional point of distribution in the right stores can add up to literally thousands of dollars in increased sales. If you made a dollar for every item that you sold, then adding one item to 300 stores would earn you an additional $300 a week. That's $15,600 per year. Now multiply that for two items ($31,200), three items ($46,800), four items ($62,400)... you get the idea.
- What specific steps do you need to take to improve your distribution?
- How many times are you getting up to bat?
- Are you frequently striking out when up to bat?
- Do you really need a home run to reach your goals?
There are several ways to improve your distribution, your shelf presence and increase consumer take away. You could:
- Improve merchandising—make your brand easier to find and shop
- Improve shelf presence—billboard product on shelves
- Create more quality promotions—replace ineffective promotions
- Take a leadership role in the category
- Identify secondary merchandising opportunities
- Identify co-merchandising opportunities—with other items/brands/events
- Improve product replenishment—reduce out-of-stocks
- Improve pricing—identify optimum price points
Remember the tortoise and the hare? The race isn't usually won by the largest, most sophisticated CPG company but rather the small, nimble, creative organization. Taking these necessary steps will get you on first base so that you can compete with anyone, in any channel.