Retail 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.
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.
From 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:
- 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.
- 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.
- 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.
- 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.
- 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.
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.
As 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.
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.
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.
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.
December 17, 2013
Representatives from The Retail Outsource Companies (T-ROC), will be participating in both the Consumer Electronic Show (CES) in Las Vegas January 7 – 10, 2014 and the NRF Big Show in New York City from January 12 – 15, 2014.
Each Show is the world’s largest venue in its respective category – showcasing how up-to-the-minute to-market inventions and the latest solutions are helping industry leaders and multi-channel retailers overcome logistics and operational challenges and achieve their sales goals.
Team T-ROC is a part of this innovation revolution. These four elite companies complete the ecosystem of running, managing, and maximizing the productivity of retail businesses. Together they help retailers operate their stores by providing a trained team of product demonstrators or retail specialists.
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 also builds high performance sales/support teams for retail and outside projects. They also staff and successfully manage retail stores on behalf of their clients.
The Consumer Insight measures the Customer Satisfaction Index utilizing mystery shopping, satisfaction surveys, and competitor statistics. Techniques for improving brand appeal and brand loyalty are also available.
Mobile Insight provides quantitative analysis of store visits by customers and compiles reporting and business intelligence in real time. Industry specific software provides store management with instant access to photo capture, product delivery, and sales goals.
SYMBITS is America’s best-in-class IT managed solutions provider for the retail and education industries while also helping America’s small to medium size businesses with IT maintenance and on and off-site support, remote helpdesk, business continuity strategies and cloud service offering.
To find out firsthand how Team T-ROC can help you dominate your industry and dramatically grow your revenue and profits, we invite you to arrange a live meeting with them at one, or both of these events. Pre-show appointments are encouraged and welcomed!
February 14, 2013
February 14, 2013: Miami FL – The Retail Outsource (TRO) is proud to announce that it has been granted the coveted position as a Best Buy Third Party Approved Provider. TRO is now authorized to offer in-store sales teams to act as a direct extension of the Best Buy brand. These teams will be performing in-store activities such as customer service and sales.
After an extensive qualification process, TRO was approved as one of 10 Third Party Approved Providers. This extremely elite group is authorized to interact directly with Best Buy customers. Given the impact a third party relationship has on Best Buy they are highly selective of the companies allowed to partake in this program. TRO understands the magnitude of this relationship and will invest heavily in this opportunity. TRO’s extensive years of experience in providing high performance sales teams to retail kiosks, stores-within-stores, and standalone store startups definitely makes them the perfect fit for this handpicked group. “Our sales force has extensive expertise in managing day-to-day store operations, as well as a proven track record of high sales performance. We are excited to take on this role within Best Buy, and are confident that we will deliver superior customer service” said Brett Beveridge, CEO and Founder of The Retail Outsource Companies.
Best Buy’s Third Party Approved Provider Program was established November 1, 2005. This program was put in place to ensure that Best Buy customers’ needs are consistently met and that customers encounter a more consistent in-store experience at any Best Buy store. Third Party Providers have product knowledge, Best Buy certifications, and additional Best Buy training allowing them to assist customers on the sales floor.
To connect with TRO contact Founder and CEO Brett Beveridge at email@example.com
About The Retail Outsource
Headquartered in Miami, FL, The Retail Outsource specializes in retail consultation and specialized sales team staffing. TRO is affiliated with Mobile Insight, a wireless mobile field force automation application system, The Consumer Insight, a full-service customer experience management services provider, and SYMBITS, an IT managed services firm. To learn more about TRO, visit http://www.theretailoutsource.com .
January 4, 2013
The Retail Outsource Companies Introduces The Consumer Insight at CES 2013
Miami, January 4, 2013: The Retail Outsource Companies, is pleased to announce the launch of its new sister company, The Consumer Insight (www.theconsumerinsight.com). The Consumer Insight (TCI), is a full-service customer experience management service provider. TCI focuses on Mystery Shopping, Telephone Mystery Shopping, Customer Surveys, Compliance Audits, Competitive Intelligence, and Instant Rewards programs.
TCI’s client-centric methodology and unparalleled commitment to quality reporting distinguish it above other customer experience management programs currently available. TCI deploys over 25 specific processes to ensure quality reporting; including PhotoDNA document upload verification and GeoVerify GPS location authentication. Through the use of TCI’s 30 thousand team members we can quickly deploy and execute thousands of visits with quality and accuracy. “We are delighted to add TCI to our comprehensive suite of services offering.” stated Brett Beveridge, Founder & CEO of The Retail Outsource Companies.
The Consumer Insight is headed up by Sam Hersey. Sam Hersey is a 30-year veteran of the retail industry and currently serves as the General Manager of The Consumer Insight. He has operated hundreds of retail locations with a focus on CE and wireless retail services. Sam has a rich and varied background in all aspects of retailing and specializes in defining, refining, and elevating the customer experience. He has applied his extensive experience to developing actionable full-cycle customer experience reporting and management services to empower over 75 retail entities; from Fortune 100 companies to regional and local retailers. “Sam’s programs have helped clients of all sizes to understand, refine, and improve their customers’ retail experience. His extensive retail and customer experience expertise offers TCI an immense competitive edge.” stated Brett Beveridge, Founder & CEO of The Retail Outsource Companies.
To connect with TCI at CES contact Founder and CEO Brett Beveridge at firstname.lastname@example.org
About The Consumer Insight
The Consumer Insight (TCI), a full service customer experience management service provider, is the newest member of The Retail Outsource Companies. TCI is headquartered in Miami, FL, along with its affiliate companies, The Retail Outsource, specializes in retail consultation and specialized sales team staffing, Mobile Insight, a wireless mobile field force automation application system, and SYMBITS, an IT managed services firm.
December 12, 2012
Brett Beveridge CEO of The Retail Outsource has been honored by Inc. Hire Power Awards as one of the “Real Heroes of the American Economy” for his job creating efforts.
The Retail Outsource ranks #7 in job creation over the past three years in the retail industry.
December 12, 2012: New York, NY – Miami, FL – based The Retail Outsource featured in the inaugural ranking of Inc.’s Hire Power Awards, recognizing the private businesses that have generated the most jobs in the past three years.
The Retail Outsource generated 129 jobs from 2008 to 2011, placing it among the top 10 private business job creators within the retail industry.
The Retail Outsource specializes in the turnkey management and staffing of high performance sales teams both in and out of retail. Their recent hiring programs are not unique for the company but rather are continued indicators of the company’s impressive growth. “It’s an honor to be recognized for our job creating efforts. The hard work and dedication of our employees is what allows us to continue growing” said Brett Beveridge, Founder and CEO of The Retail Outsource. With employees in more than 44 states nationwide, The Retail Outsource is poised for continued rapid growth, including expansion into Puerto Rico, Mexico and Canada.
Inc. is the only major business media brand aimed solely at CEOs of fast-growing private companies. The Hire Power Awards will appear in Inc.’s December/January issue, as well as the brand’s web site, www.inc.com.
“The top 100 companies on the list have created 73,032 American jobs in the three-year period from 2008 to 2011 – an amazing feat, given that much of that job growth came during the heart of the recession,” explains Inc. editor-in-chief Eric Schurenberg. “And it isn’t just the big guys that are adding jobs. Companies with less than $50 million in annual revenue make up nearly one-third of the Hire Power list.”
The inaugural Inc. Hire Power Awards are sponsored by Bank of America Merrill Lynch, which is proud to recognize American companies that have greatly increased their workforces. Inc.’s Hire Power Awards celebrates private companies on the forefront of American job creation, giving these businesses the recognition they deserve.
About The Retail Outsource
Headquartered in Miami, FL, The Retail Outsource specializes in retail consultation and specialized sales team staffing. It is also affiliated with Mobile Insight, a wireless handheld-based field force automation, compliance and reporting application developer, SYMBITS, an IT managed services firm, and The Consumer Insight, a full-service customer experience management services provider. To learn more about the services The Retail Outsource offers to retailers, manufacturers and service providers, visit http://www.theretailoutsource.comor http://theretailoutsourcecompanies.com/ .
Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today’s innovative company builders. Total monthly audience reach for the brand has grown significantly from 2,000,000 in 2010 to over 6,000,000 today. For more information, visit www.inc.com.
About Bank of America Merrill Lynch
Bank of America Merrill Lynch is one of the world’s largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with approximately 5,700 retail banking offices and approximately 17,250 ATMs and award-winning online banking with 30 million active users. Bank of America Merrill Lynch is among the world’s leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America Merrill Lynch offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. For more information, visit:http://corp.bankofamerica.com/business/smb.
“Bank of America Merrill Lynch” is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Merrill Lynch Professional Clearing Corp., all of which are registered broker dealers and members of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.
The four companies under the
T-ROC umbrella provide a unique combination of solutions. These solutions can be used independently, but are most effective when used together. All of our solutions are designed to increase sales and reduce costs through the power of people and technology.