The DriveSales™ | Proven and highly recommended sales strategies for FMCG companies!
Fast Moving Consumer Goods, often known as Consumer-Packaged Goods (CPG), are those products that are used by the consumers daily and sold quickly. These products are sold at a comparatively lower cost. It includes non-durable household goods, dry goods, and other consumables.
As per the India Brand Equity Foundation (IBEF) report, FMCG is the fourth largest sector in the Indian Economy. It is categorized into three main segments namely — Food & Beverages (accounting 19 percent of the sector), Healthcare (accounting 31 percent of the sector), and Household & Personal Care (accounting the remaining 50 percent). The report also stated that this sector has projected a growth of 11–12 percent in 2019 and is expected to reach US$ 103.7 billion by the end of 2020.
Some top FMCG companies in India include Hindustan Unilever Ltd., ITC Ltd., Nestle India Ltd., Britania Industries Ltd., Godrej Consumer Products Ltd., etc. If you are planning to form sales strategies for FMCG companies, Congo! You are at the right place!
We have gathered some top tips listed below that would help you with the same.
1) Encourage large purchases — If you want to increase your sales, encourage a larger purchase by your dealer. You can do this by offering them an extra commission or discount on larger orders. Take into consideration the fact that your dealer might want to offer discounts to their customers.
2) Maintain a good reputation — You must maintain a good reputation in the market. Dealers would only buy your product is they are confident enough to receive the supply on time. After all, no one wants to face unhappy clients.
3) Use technology and go online — Everyone is busy nowadays; make the daily buying process easy for your customers. Offer your customers online services, like online ordering and free home delivery. Easier the process, more the sales. Amidst this pandemic, when people are afraid to go out, it is the best way to boost up your sales.
4) Provide after-sales customer support — Reliability attracts most of the customers. People will buy from you again and again if they believe that they can rely on you. Giving a warranty on your products, good customer support, and after-sales service can be a great way to gain their trust. One happy customer would bring a few more customers whereas one unhappy one will make you lose many.
5) Establish a good relationship — Maintaining good relations with your dealers and suppliers can prove to be beneficial during the time of crisis. This not only helps you get enough support but also to keep a good reputation in the market.
6) Offer free samples — If you have enough capital resources to invest in your business, you can offer free samples of your product to build trust. Even though this advertisement is a bit costly, but it can boost your sales to another level and give you tremendous results.
7) It’s not the product — It’s not the product, it’s the benefits that people purchase. Improve the results that your product gives to the consumers and you will find your sales figures increasing automatically. Prepare a list of the benefits provided by your product and target the right audience.
8) Product Differentiation — FMCG sector offers the same kind of products from different brands. It is necessary to gain a competitive advantage and give your customer some sort of unique benefit compared to your competitor. It can be in the form of offers, discounts, or unique packaging.
9) Attractive packaging — Remember, the look and feel of your product’s packaging make the first impression on the consumer’s mind. Make sure it looks attractive and grabs the attention of your probable customers. If the look and feel of your product are not good enough, people won’t even take the opportunity to try them out.
10) Fix the right price –Research about the market price properly and then determine the price of your product. The value that your product offers should be worth the price. If your price is high, make sure you deliver high-quality products. Otherwise, you are going to lose a good number of customers. Do not keep your price too low, or else it will lose its value.
Now, as an effective SALESPERSON! We can do three things from here.
1) Ignoring the opportunity and blaming the situation for revenue loss.
2) Taking important notes and going back to revisit your sales strategy with the growth mindset.
3) Reach out to The DriveSales™ if you need any specialized help for sales.
To conclude, what you choose to think also provides some idea of your growth mindset. It is something like Loyal ‘Jack’ Lewman’s quote, “Never stop learning; For when we stop learning, we stop growing.”
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