Want a fast way to outmaneuver your competition and drive more revenue this quarter?
Consider taking a closer look at your Winback opportunities. A Winback is a store that once stocked your brand, but doesn’t anymore. Because the store buyer once offered your products to the store’s customers and is likely familiar with your products, Winbacks are a high-value set of sales prospects.
Because dispensaries deal with such a variety of product SKUs, it's easy for them to inadvertently drop a product or brand. It could be that the rep servicing the territory before you wasn’t great at managing that customer relationship and as a result, the dispensary owner simply moved on to a new brand with a more attentive rep.
But because the customer is familiar with your brand and has bought from your company before, it's safe to assume they may be open to buying from you again. It’s a universal sales truth that it is 80% easier to sell to an existing customer than it is to open a new door, so calling in on your company’s past customers is a good source of warm leads.
But there’s a catch: in retail, product purchases are not necessarily tied to a renewal or contract date, so finding those lost dispensary customers can be extremely time-consuming.
Fortunately, Pistil makes it easy for sales teams to identify Winback opportunities. Pistil tracks every brand in nearly every retailer, every day. Pistil gives you an updated list of stores that stocked a brand sometime in the last 90 days, but no longer stock it. Pistil also shows you the specific products that the retailer had on the menu. This allows you to zero in on a specific SKU and price point and better prepare to renew or recapture a dispensary’s business.
Some salespeople like James Ulrich, Head of Sales for Final Bell, use Winback every week. Using the report scheduling feature in Pistil, James has Winback opportunities sent to him and the rest of his team to help set the sales strategy for the week.
If you want to hear more about how Pistil can help you get in new doors, expand shelf space, and get faster reorders, request a demo, or contact your customer success representative.