High-performing businesses place the customer at the centre of their decisions. For suppliers, this means putting retailers at the forefront of all decision making. Filtering your thinking and strategy through the lens of retailers is a tactic that often leads to being a more engaged, empathetic partner. And because of the retailer’s proximity to the shopper, their engagement and empathy is a priority.
Why Engage Retailers?
Innovation is Rooted in Collaboration
Gaining the buy-in of a retail partner leads to a relationship defined by mutual benefit. Rather than having to sell ideas to one another, improved retailer partnerships mean that both you, as the supplier, and the retailer see the benefits of trusting one another enough to work together to create innovative solutions.
Connecting with Customers Begins with a Commitment
How should suppliers work to build a stronger connection between themselves and their customers? At Advantage, we see this as a four-stage journey:
1. Prioritize retailer engagement as a KPI, so it is at the forefront of your organization’s mind
2. Actively listen to your partners, so you understand their challenges and areas for opportunity
3. Share what you learn throughout your organizations, so everyone is empowered to create future-fit solutions
4. Create an action plan based on the feedback so that you and your partner can introduce new behaviours towards achieving a more in-depth relationship
How to Make Retailer Engagement Matter
Our supplier clients have found success in solidifying their retailer partnerships by way of sponsoring the annual Advantage ReportTM program and deploying tailor-made Voice of the Customer programs. A combination of these B2B engagement solutions has empowered suppliers to gain an understanding of the overall state of their customer relationships and develop strategies to pivot as new needs and challenges arise within their relationships.