How Loyal are Your Accounts?
In this installment of Metrics that Matter, we review how to use Retail Account Depletion (RAD) data to retain and improve sales performance using this measure of customer loyalty.
Retention analysis shows you where to focus your sales efforts. Once you have a trouble area identified, create target account lists and develop plans with your field and distributors to create different results.
To gain better insight into customer loyalty, filter your RAD data by distributor, market, item, channel, target account or rep. Typically six, nine or twelve month periods are used for comparables. In this dashboard we use a rolling time frame to track results month-by-month, over a comparable twelve-month period (R12).
We recommend using Retention metrics so distributors and field stay aligned with management priorities. Regularly use these metrics on your distributor and rep scorecards and during reviews to set expectations about account churn and brand loyalty.
When you use Retention metrics, everyone wins.
Here are few additional insights analytics like this offer (at the push of a button)
Where you lose more accounts and volume than you win
At what rate channels, chains, nationals and independents produce re-orders
Where reps waste time and violate the 80/20 rule, and so much more - - -
Acquiring accounts is expensive. Once you have them, you want to keep them!
Click here to schedule a call to learn more about how to implement this and other advanced metrics.
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