Cutlery Manufacturer
Increase Sales.
Location: Delhi/NCR
Synopsis of Clients business –
- Manufacturer and exporter of cutlery
- Business age 30yrs
- Business size 60 CR+
- Started Retail operations in India 3 years back
- 2 Manufacturing plants in NCR
- Started HORECA segment 8 months ago
Major Challenges faced by client
- No Annual Operating Plan, no targets defined
- No reporting structures
- Unorganised Sales Operations
- Iteration in Sales team and unorganized working pattern
- People not accountable and responsible for their work
- Deficit in meeting Sales numbers
- Don’t know how to Increase sales
Steps taken to Increase sales
Stage 1 –
- Did analysis of Sales Data of Past 3 years in retail and did a thorough Competition Analysis
- Made the right product mix after doing intensive secondary research
- Defined the sales target for both – HORECA and Retails Sales Teams
- Inducted the teams on the Input required to achieve the sales targets to Increase sales
- Implemented daily Monitoring of sales team – Morning Planned Vs Actual achieved on daily basis
- Started fortnightly reviews, identified the GAPS in the system
- Channelized the entire sales process – implemented order formats, Order Processing Formats
- Petty issues with distributors were identified and resolved
- Bad Debts were recovered by discussions with Irate distributor in both HORECA and Retail Segment
- Management got a clear picture of performers in the team
- Launched and implemented successful floating and fixed incentive plans
- Build a command over the sales team
Result – Client saw the difference after implementation and understood the power of reviews
- Upsell the services to the client and became designated NSMs for the Company
- Taken over their entire domestic Sales, with sales team reporting
Stage 2 –
- Trained the entire sales team on Selling the product not the price
- Strategy defined to deep dive into penetration
- Built a business acquisition Cost VS Targets – to enhance the bottom line
- Created a BSU model – taken over as cost centre and created a plan to make it profit centre
- Sales team was given a brief regarding the revenue targets to achieve to meet the P&L, means a more sustainable business plan
- Started travelling with the sales team in distribution network and HORECA segment to built a PR with the distributors both in HORECA and Retail Sales
- Finalised a Co – Branding deal with a Billion $ brand – Decided to sell our Premium Range in the HORECA industry, utilising the other brand strength
- Created 9 new distributors in WEST region within a travel of 10 days
- Successfully implemented Day track LMS
- Parallelly started working to resolve inventory management issues
- Defined the entire Business Cycle – P2P
Final Outcome – The Business Grew by 100% from 6 Crore to 12.5 crore within 8 months and distributors numbers grew by 50% and repeat rate increased by 20% for all distributors.
Here are some effective strategies to increase sales:
- Product Diversification: Expand your product line by offering a wider range of cutlery items. Consider variations in materials, styles, designs, and price points to cater to different customer preferences.
- Quality Assurance: Emphasize the quality of your cutlery. Highlight durable materials, craftsmanship, and any special features that set your products apart from competitors.
- Online Presence: Establish a strong online presence through an e-commerce website or platforms like Amazon, Etsy, or eBay. Optimize product descriptions, use high-quality images, and ensure a user-friendly interface for seamless shopping experiences & Increase sales.
- Social Media Marketing: Utilize social media platforms to showcase your cutlery products. Engage with your audience by posting visually appealing content, customer testimonials, tutorials, and behind-the-scenes glimpses. Influencer partnerships and targeted ads can also amplify your reach.
- Customer Engagement and Reviews: Encourage customer feedback and reviews. Positive testimonials build trust and influence potential buyers. Promptly address any issues or concerns to show your commitment to customer satisfaction.
- Partnerships and Collaborations: Collaborate with restaurants, chefs, or influencers for endorsements or partnerships. This can increase sales & brand visibility and credibility among your target audience.
- Offer Deals and Discounts: Introduce promotional offers, discounts, or loyalty programs to incentivize purchases. Limited-time offers or bundle deals can encourage customers to make a purchase.
- Trade Shows and Exhibitions: Participate in relevant trade shows or exhibitions to showcase your products to a larger audience. Networking with potential clients and industry professionals can lead to new sales opportunities.
- Customer Service Excellence: Provide exceptional customer service. Respond promptly to inquiries, offer support, and ensure a smooth purchasing process. A positive customer experience can lead to repeat purchases and referrals.
- Market Research and Adaptation: Continuously conduct market research to stay updated with industry trends, customer preferences, and competitor strategies. Adapt your offerings and strategies accordingly to meet evolving market demands.
