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Embarking on the journey of launching a new product in the fast-moving consumer goods (FMCG) sector is both thrilling and challenging. In a market flooded with diverse offerings, securing the spotlight for your latest addition is crucial. This article will unravel essential steps that FMCG companies can take to enroll retailers successfully and secure prominent window displays for their new products.
Before delving into the enrolment process, it's crucial to grasp the concept of product line width. This entails expanding the range of products a company offers. For instance, an FMCG company specialising in health and lifestyle products might widen its line by introducing spices. This expansion necessitates strategic planning for an effective launch.
1. Market Mapping: Understanding the market at its grassroots level is paramount. Market mapping activities aid in gaining insights into competition, retailer interests, feedback, visibility, and market payouts. Armed with this information, brands can formulate a targeted market launch strategy.
2. Follow Salespeople Activity: Once the strategy is in place, salespeople play a pivotal role. They assist in enrolling outlets, deploying Point-of-Sale Materials (POSM), and ensuring the smooth execution of the plan. Channelplay's field VM team shadows salespeople, capturing essential data through a mobile application for comprehensive analysis.
3. Retailer Enrolment: Securing sign-offs from retailers based on predefined criteria is crucial for successful enrolment. This step involves communicating the benefits of the new product launch scheme, instilling confidence in retailers, and informing them about concurrent marketing campaigns.
4. Window Display and PoSM Execution: With enrolment completed, the field visual merchandising expert takes charge. They deploy POSMs as per the brand's planogram, optimising space and strategically placing products in retail outlets. The goal is to create an eye-catching display that captures customer attention.
5. Replenishment and Audit: Since PoSMs have a shelf life, multiple visits to the same outlet are necessary for timely replenishment. The field visual merchandiser assesses the display's condition, answers questionnaires, and assigns scores. These scores influence future visits and determine display payouts.
6. Dealer Payouts: Ensuring timely payouts to dealers is vital for fostering brand loyalty. This practice encourages dealers to maintain the display for extended periods, ultimately boosting sales. Effective dealer payouts contribute significantly to the success of the overall strategy.
Visual merchandising execution plays a crucial role in creating a captivating display and ensuring online visibility
Successfully enrolling FMCG retailers for new product launch window displays involves a strategic blend of market understanding, sales engagement, and meticulous execution. By following these steps, brands can navigate the complexities of product launches and ensure their offerings receive the attention they deserve.
At Channelplay, we specialise in assisting brands with the execution and implementation of such strategies. Whether you're in FMCG, automobile, consumer durables, or handset manufacturing, our services can be customised to meet your specific needs in visual merchandising services.
1.How can market mapping benefit FMCG companies during a new product launch?
Market mapping provides insights into competition, retailer interests, and market dynamics, aiding in the formulation of an effective launch strategy.
2. What role do salespeople play in the enrollment process?
Salespeople assist in enrolling outlets, deploying POSMs, and providing valuable feedback for refining the launch strategy.
3. Why is retailer confidence crucial during enrolment?
Retailer confidence ensures successful sign-offs and a positive reception of the new product, contributing to its overall success.
4. How often should POSMs be replenished in retail outlets?
Multiple visits are essential to replenish POSMs, ensuring the display remains fresh and appealing to customers.
5. Why are timely dealer payouts important for display longevity?
Timely payouts encourage dealers to maintain displays, extending the visibility of the new product and driving long-term sales.