Sales Strategy

Strengthening Retail Media Trust through Solution Selling May 02, 2023 (0 comments)

Philadelphia, PA--Building trust and offering problem-solving strategies is vital in retail. According to a report by My Total Retail, one in four media dollars is expected to be spent on retail media by 2026; sales practices must shift from product-centric to customer-centric.

[Image via Pexels Commons]

Retail media networks can achieve this by training their sales teams in solution selling methodology, which addresses brands' pain points and builds meaningful relationships.

As per the report, solution selling follows a five-step process: approach, identify needs, solve, confirm, and deliver. The approach and identifying needs are the most crucial steps in laying the foundation for successful sales interactions. Establishing credibility through research and understanding a brand's pain points is vital for positioning the retailer as a strategic partner.

Retailers can demonstrate their value as trusted partners by aligning with the most pressing needs, working with internal strategy teams, and presenting well-defined solutions. Sharing performance metrics and offering optimization strategies further solidifies the partnership and enhances brand loyalty.

Adopting solution-selling strategies will give retailers a competitive edge, resulting in improved decision-making, increased trust, and better overall results.

Click here to learn more in the entire report by My Total Retail.