You’ve made a decision about your sales technology: It’s time for a change or major upgrade in capabilities. There are two common strategies to finding a solution that will work for your business, building your own or buying into an existing service. Each choice carries its own set of pros and cons to be considered before making the next decision on how to best proceed.
Let us guide you in what to look for in your beverage sales technology, as well as explain the difference between building or buying a solution to address your technology needs.
Getting Started with Beverage Sales Technology
Identify the Problem
First, identify the problem you’re having or need for technology that you’re seeing within your company. Things to consider: Is this need highly specialized? Does it relate to your core business functions or is it a service that another company has already mastered?
For the beverage industry, one of the main problems we’ve seen is that companies need help growing to be able to compete. As larger companies move more into the tech space it’s important to keep up with the latest tools to stay competitive, like data sharing through the three tiers, promotional analytics, CRM, retail surveys, and trade promotion management.
What to Look for in Your Technology
Choosing the right sales technology for your beverage company should revolve around strengthening your brand(s) and position within the market by way of excellent sales execution.
We’ve found the following attributes to be essential:
- Automated – saves you valuable time on processes
- Focused – pinpoints the right products and activities and when to perform them
- Informed – provides calculated and strategic direction
It’s important to remember that it’s not necessarily the best product that wins at retail, it’s the best execution in the market. Your technology should help you perform strategic activities, facilitate opportunities that bring value to your business, and be able to measure the success of your initiatives.