A successful Retail Account is one where the relationship between a company that manufactures or supplies products and the retailers that stock them is managed seamlessly. The responsibility of which lies on the shoulders of the Retail Account Manager.
If your aim is to manage your retail accounts lucratively, you should follow these steps –

Alter to each client’s specific demands
You should know what your key accounts (the major retailers) need. The same strategy that works with your key accounts will not work with small independent retailers. If you are focusing on geography, then you should aim to increase profitability and sales across all your accounts rather than focusing on one.

Plan before all else
You should be aware of your revenue and profit targets rather than shooting arrows in the dark. Each account should have a defined target that you should be working towards. Even individual products should have specific targets within each account. Focus on the retail groups where you see an enormous scope of growth of existing products as well.

Relationship with the retailers
We don’t mean you should be friends with everyone, but you should definitely try building a rapport with your retailers. These are the people that could give you more sales and profits. As these might affect your stocks, delivery requirements, prices and discounts you should definitely try to be in the good books.

Internal Coordination
All your departments should be in sync, from sales administrators, customer service executives and managers of other departments such as logistics and accounting. This will ensure that your retailers will receive service of higher standards.

Business Development
You should never be satisfied with how good your account is doing at the given time. Always look for ways to increase the business. Create special incentive programs so that retailers increase their stock. Or create advertising and marketing campaigns that coincide with the retailers.

Do you feel that your retail accounts are underperforming? Are you unable to manage your retail accounts without a glitch? Then contact Idonneous Marketing Services, they provide solutions that would meet your needs. Call – 022-6699668 / 022-6699672.