Leader in Cutting-Edge Retail Expertise, The Revenue Optimization Companies (T-ROC) Wins 2016 Software & Technology Awards

How Shared Services Models Work for Retailers and Brands

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boardroomRetail businesses include many moving parts that must work together to meet customer demand and execute the duties of the business on a daily basis. While every business department faces its own share of unique challenges, the sales department has a direct impact on the bottom line every day.

Businesses can approach their sales departments in a couple of different ways. One method is becoming increasingly popular among brands that place their products in several different retail arenas: sales outsourcing with shared services.

Outsourcing sales companies like The Retail Outsource offer a significant, bottom line driving service to retail brands. These companies use industry knowledge and training programs to place sales representatives on the floor of big box stores. The sales representative wears multiple hats and may appear to the consumer as a general store clerk but actually has the training to push certain products or services on the floor.

There are many benefits to retailers who invest in this form of sales outsourcing shared services:

  • Cost effective.  One sales representative shared across brands costs less to employ than a company employed sales person. Two retail brands can share the costs of the sales professional, who will be trained to promote both brands on the floor, creating a streamlined sales process. Developing a highly skilled sales team internally means investing in expert infrastructure to meet and exceed business objectives. By investing in an outsourcing solution, companies can bypass that costly investment completely.
  • External management. The sales service is outsourced, so individual retail companies do not have to manage the representative at a micro-level. Instead, they will interface with a representative from the outsourcing company who will provide relevant sales information and project management for their end client company. Outsourcing companies can also provide consultation and make recommendations regarding a sales environment. They are experts in sales who specialize in promoting growth and increasing revenue for their clients.
  • Efficiency/Timeliness. When a company reaches out to an outsourcing agency that manages shared services programs, they no longer have to worry about the recruiting or training process. The entire sales process is left in the hands of the outsourcing company with the retailer providing insight as needed to personalize a sales program. Turnkey services mean retailers will enjoy the benefits of the shared services model in far less time than traditional recruiting and training processes would take.
  • Expertise. Sales outsourcing companies start every relationship by understanding a retail company inside and out. They use their sales expertise to create strategies that make sense to drive sales and promote growth.
  • Meaningful data analysis. In today’s market, it is nearly impossible for companies to maintain a steady growth pattern without meaningful data analysis. Evaluating data allows companies to remove strategies that are not providing results in favor of effective strategies. Outsourcing companies that employ shared services representatives can help retailers target solutions that work strategically to improve those processes over time.

For many retail companies, the shared services solution can decrease overhead while maximizing sales. This resource effectively allows companies to enter more markets without the costs associated with traditional sales models.

Top 5 Things to Consider When Scouting a Retail Location

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Carefully selecting retail locations for your brand is integral to success. Store location largely affects brand accessibility, visibility, and overall ROI. Many companies, startups, and existing retail brands may not realize there are many resources online to expedite the process of finding a valuable retail location.

storefront3From services that do all the legwork to demographic data resources, here are some of the main considerations and resources companies can tap into when searching for great retail locations:

  1. Area demographics. Choosing a site based on appearance and proximity to company management can work occasionally, but the most successful retail locations are chosen based on demographics.A company’s product or service is usually targeted at a specific market. Look for area or location demographics that match up well with the target market for a better chance of sales. The area’s age of shoppers, income ranges, local attractions, and job sectors provide insight into whether an area will be a good candidate for a retail store. Consider these resources to learn more about demographics:
    • Census.gov. This site provides information about people, jobs, and general information about cities and states.
    • City-data.com. Some towns may not be listed through census.gov, but can be found on this website which aggregates data from a variety of sources. You’ll find information about weather and area crimes in this resource.
    • Chambers of Commerce. Look on a city’s chamber website to learn more about specific demographics and to get a feeling for the industries and people in the area.
  2. Competition. A rule of thumb for business placement is to locate a storefront in close proximity to competitors. Doing so provides opportunities for crossover marketing and beating out the competition in service, prices, and layout. Look directly at competitor locations on a map and cross reference the information with available real estate.
  3. Accessibility/Traffic. Some stores may have a great layout and sales structure, but lose out on important sales because their storefronts are difficult to access or there isn’t enough traffic through the area. Look at parking, delivery access, and the number of consumers in an area throughout the day. It may be beneficial to scope out the site in person and talk to local consumers before making decisions regarding a location.A company can learn a lot by scanning Google Maps in areas of interest for signs of heavy traffic and street views of an area. Aside from talking to individuals who know an area, the resource provides valuable information to determine the viability of a location.
  4. Regulations. Companies need to be aware of local ordinances, zoning regulations, and other area restrictions. Obstacles are much easier to address when evaluated before choosing a location. Failing to do so can delay a store opening or cause legal challenges in the location startup. Search online for “city of [insert name]” and access the local city site to learn more about local regulations and zoning restrictions.
  5. All-in-one planning services. Many startups and existing retailers are busy completing a variety of tasks from production to management. Choosing a location is a complex process that involves more than finding an attractive storefront. Full service retail outsourcing companies like The Retail Outsource provide integral consultation and launch solutions that can simplify the location startup process.

Answers to Your Most Common Sales Objections

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For many small business owners, selling doesn’t come easy. In fact, for the majority of people, making sales calls and developing air-tight pitches is stressful and challenging. While there is a certain level of natural skill and personality at play, many shortcomings can be compensated for by understanding common sales objections and how to address them.

Businessman portraitAs a salesperson, it is your responsibility to uncover what is stopping a potential client from making a purchase decision. In most cases, this means answering the following objections with clarity, understanding, and patience:

  • Price. By far, the number one sales objection has to do with price. You will frequently hear something along the lines of, “Your products cost way too much and I can get the exact same service from someone else for much cheaper.” If that is a true statement, your best option is to justify the cost of your products or services. Try breaking costs down into smaller amounts and carefully explaining what they get for each dollar.
  • Lack of authority. The second most popular sales objection is, “I’ll have to discuss this after consulting my manager/boss/partner.” If you let them walk away from the table and consult other sources, you may lose a sale. Ideally, you should tell them to invite that person in or setup a joint meeting in which you can all discuss the sale together. You can usually accomplish this by claiming you have a special deal that can only be offered and signed off on if presented directly to the CEO or manager. This usually gets you in the door and allows you to present appropriate terms or discounts.
  • Complacency. Do you ever hear potential clients mention a fear of change? It’s usually guised in a statement like, “We’ve been doing it this way for 20 years and I don’t want to risk messing it up.” The best way to kill the complacency objection is to provide ample examples of when change has been good for your business, their business, or some other well-known company.
  • Bad timing. A classic objection is, “We’re too busy to get involved with this right now. Contact me next quarter.” This is often the easiest objection to overcome – if it’s actually true. Simply light a fire under them and make the offer so compelling they can’t wait any longer. It’s amazing how much time a customer will make for you when he or she has a clear understanding of how the sale will benefit them.
  • Trust. One of the most difficult objections to overcome is trust. In many cases, a new client will want proof that you can handle their sale. You can overcome this objection by presenting case studies, testimonials, and honest answers to tough questions.

Understanding Objections

While these are five examples of common objections, it’s equally important to understand the different types of objections. According to Brian Tracy of SuccessNet Online, there are 9 different types. From unspoken and excuse driven objections to honest and subjective objections, each person has a different way of objecting. Your success as a salesperson largely depends on your ability to decipher one from the other.

Inc. Magazine Honors 2013 Top Job Creators- Impressive Crop of Companies Created 51,327 Jobs

February 7, 2014

The Retail Outsource Garners 2013 Hire Power Award Adding 152 Jobs in just 18 Months

Inc. Magazine ranked The Retail Outsource, LLC of Coral Gables, # 87 nationwide in job creation, #4 in the Retail segment of the Best of the Best Retailers in America, and #7 in Florida among the top 100 Florida Companies, in its 32nd Annual Inc. Hire Power Awards. This prestigious list is an exclusive ranking of the nation’s best job creator companies and represents the most comprehensive listing of leaders by industry, by state.

“I am extremely excited to receive such an important milestone award – especially during such a challenging time for job seekers in America. We feel we are helping to change the national outlook on unemployment and contribute to a sense of optimism in the job market. We have been very fortunate over the past several years to have had the opportunity to grow our customer base which, in turn, allowed us to bring on many more employees.” Brett Beveridge, Founder and CEO, The Retail Outsource.

Details of the remarkable story of job creation by The Retail Outsource Company is available online at http://www.inc.com/profile/the-retail-outsource.

The Retail Outsource Company CEO Beveridge continues, “We strive to staff and manage the highest quality retail representatives, and most knowledgeable outside sales associates. We also provide managed sales teams that support our retail clients and sell anything external, such as B2B, B2C, and more.”

About Us: The Retail Outsource creates a custom sales system including everything from how customers are greeted, operational procedures, all the way through to aftercare programs. TRO specializes in building high performance sales/support teams for retail and outside projects. They also staff and successfully manage retail stores on behalf of their clients. T-ROC and its affiliates provide total sales operation solutions. The Retail Outsource Companies include Mobile Insight – real-time field reporting and business intelligence, The Consumer Insight – full-service customer experience analysis, and SYMBITS – managed IT services. Working in synergy, these four companies form a complete ecosystem: running, managing, and maximizing the productivity of retail efforts.

Brett Beveridge, CEO of The Retail Outsource, Talks Retail Business on Inflight Radio TALK BUSINESS 360

February 7, 2014

An interview with Industry Innovator Brett Beveridge, CEO/Founder of The Retail Outsource
Companies, is airing worldwide on TALK BUSINESS 360 – an inflight radio channel on American Airlines and US Airways featuring current business news for a variety of industries.
 Airing during the heavily traveled 2013/2014 Holiday season, Beveridge’s message has the potential for touching 9+ million business travelers and leisure tourists on 61,352 flights. Retail Store Operators not satisfied with their store performance and seeking positive changes in 2014 will beespecially interested in this interview.

“TRO University is the centerpiece of our business and it combines art and science to provide the best, most experienced sales associates in your stores. We do that by creating a sales system, not   just sales training, for your retail concept. Including everything from how customers are greeted all the way through to aftercare once the sale has been made.” Brett Beveridge, Founder and CEO, The Retail Outsource.

During busy times of year, such as the past Holiday season, retail owners may have been made aware that their current sales POS systems are just not performing efficiently enough to give a positive buying experience. They may be wondering why their sales did not meet their seasonal projections.

With the help of The Retail Outsource Group of Companies, retailers across the US can dramatically optimize retail store operations. (http://theretailoutsource.com/)

In his interview, Beveridge explains that the mission of the Retail Outsource is to give their customers feedback and recommendations that will help them run their retail business more effectively. Services include physically operating the retail store for them anywhere in the United States with a trained team of retail sales specialists.

About Us: The Retail Outsource specializes in building high performance sales/support teams for retail and institutional projects. They also staff and successfully manage retail stores on behalf of their clients. T-ROC and its affiliates provide total sales operation solutions. The Retail Outsource Companies include Mobile Insight – real-time field reporting and business intelligence, The Consumer Insight – full-service customer experience analysis, and SYMBITS – managed IT services. Working in synergy, these four companies form a complete ecosystem: running, managing, and maximizing the productivity of retail efforts.