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Scorecards map out objectives in bitesize manageable chunks that keep you on-track and focused. Use them to delegate responsibility with a measurable timeline. They help you achieve your goals - they can be the difference between success and failure. 

Welcome to day 25: How To Ensure Flawless Execution Using Scorecards

The Retail solved Blueprint to teach you everything you need to know to confidently grow and scale your brand, build a connected community of loyal evangelists, and multiply your brands impact, sales, and profits.

If we are meeting for the first time, my name is Dan Lohman. I’ve had the privilege of mentoring and working with hundreds of brands from pre-revenue to multi billion dollars in sales. This a culmination of the best strategies that are working today. I’ve spent years testing and perfecting them to save you valuable time and money while giving you the edge you deserve.

If you haven’t done so yet, download the free 30 Days To Prosperity Workbook at RetailSolved.com/30DayWorkbook to help you get the most out of this brand-building series. Go back and listen to all of the episodes in this masterclass to that you don’t miss a thing. The strategies build upon each other in the order of the series. Please share these and help me raise the bar in natural.

I want to take a moment to recap the last episode - How To Use Management By Objective To Maximize Sales

Topic: How To Ensure Flawless Execution Using Scorecards

You may have heard the expression, What gets measured gets done. It’s true. It’s similar to the expression that you can’t hit a target you are not aiming for.

A scorecard is the most effective and perhaps the most underutilized project management tool in our industry. Let me explain.

In the last episode we talked about how companies can excel with high performing teams by using MBO’s (management by objective). In other episodes we talked about the importance of goal setting and all that is required to increase sales including raising more capital, purchasing more ingredients, increasing inventory levels, having an integrated marketing and selling plan, and much more.

Scorecards are the tools you use to break those projects into bite size chunks. They help you more effectively manage every aspect of the project including who will be responsible, when each individual task needs to be competed, the specific order the steps need to be competed in and much more. Let’s look at a simple example to help make sense of this. This is how you can use a scorecard to make maximize your in-store demo promotion.

You need develop a scorecard to coordinate everything.
you get a commitment for the location of the product demo from the retailer with plans to follow up the week prior to the event
You analyze your sales to determine how much additional product you need to have on-hand to support the product demo as well as the increased items sales that will result. Factor in all promotional causals for this
You coordinate with the retailer the anticipated sales increase and place the order. It’s important that each store know exactly how much additional product will be delivered so that they will not be surprised. Accuracy matters here. You do not want any out-of-stocks and you also don’t want excess back-stock after the event is over
You need to coordinate any pricing changes, incremental displays including who will set them up and take them down, media including social media coverage, etc.
You then need to insure you have a well trained demo expert scheduled well in advance to be drive sales and answer customer questions. This in addition to the gloves, apron, spoons, microwave, etc.
You need to get special signage approved and have it available before the event.

Clearly there is a lot more to planning a in-store demo but this will give you some idea of how to use a scorecard. Take each of the above items and place them on the scorecard. Delegate who is responsible for each item and make certain they know exactly what is expected of them. Next, identify when each item on the scorecard needs to be competed including any additional follow up. Once you get everything set up, now duplicate this for each and every store within the chain.

If you do this right, your demos will go off without a hitch and new customers will fall in love with your brand. The end result will be a happy retailer wanting you to repeat the event often.

In one podcast episode I shared I used to coordinate the in-store demos for Price Club - now Costco when I was the grocery manager. The sales lifts, for increases from an effective in-store demo would frequently be several hundred percent. Even better, base sales grew steady as a result. Imagine what that would do to help grow your bottom line.

The point is that taking the time to properly plan and execute can pay huge dividends and give your brand a sustainable and substantial edge - the competitive edge it deserves.

Think of all the other this you can use a scorecard for and how they can help remove the headaches from your business. For example: coordinating activities with brokers, line reviews, sales meetings, and planogram projects just to name a few.

I’ve included several examples and of scorecards in the video version of this episode that you will want to check out on the 30 Days To Prosperity challenge page. You can view it at RetailSolved.com/30daychallenge Scroll down to day 25.

Simple things like this get ignored and overlooked by most brands. Stand out about the crowd. Bake these strategies into your brands DNA.

If you want to dig deeper into scorecards and how to effectively use them, there is a dedicated module in my Effective Broker Management course. You can learn more about it at: RetailSolved.com/EffectiveBrokerManagement.

For additional inspiration listen to podcast episodes: add pod 123 & pod 104 above
SECRETS 134 Category Review Strategies To Grow Sales & Profits, Dan Lohman With Brand Secrets And Strategies. Category reviews are expected by most retailers. They are one of the most underutilized opportunities to differentiate your brand and explode sales. It begins with a collaborative retailer brand relationship/partnership. Maximize every opportunity! SECRETS 134 Category Review Strategies To Grow Sales & Profits
SECRETS 157 The 2 Best Tools To Ensure Sales Success, Dan Lohman With Brand Secrets And Strategies. Nothing happens until customers buy your products. They can’t buy what they can’t find. Your retail execution needs to be flawless. Scorecards and KPI’s are the best tools to insure flawless merchandising, distribution, promotions, and sales excellence. SECRETS 157 The 2 Best Tools To Ensure Sales Success
SECRETS 190 Promotion Analysis Growth Strategies To Maximize Your Trade Marketing ROI, Dan Lohman With Brand Secrets And Strategies
SECRETS 194 8 Proven Strategies To Maximize Trade Marketing ROI And Increase Brand Awareness, Dan Lohman With Brand Secrets And Strategies. What if there was a tool that specifically identified your key opportunities to eliminate wasted promotional spending? Traditional strategies will only hamstring your brand and undercut your growth strategy. Every improvement equals more sales and profits. SECRETS 194 8 Proven Strategies To Maximize Trade Marketing ROI And Increase Brand Awareness

Tip of the day: Scorecards map out objectives in bitesize manageable chunks that keep you on-track and focused. They help you achieve your goals - they can be the difference between success and failure

I’ve recorded the video which has illustrations and additional information I can’t share on an audio podcast. You can watch the accompanying video on on the podcast webpage and you can get there by going to RetailSolved.com/Session251. In tomorrows show we’ll talk about How To Develop Performance Indicators To Maximize Results.

This episode will build on today’s conversation. Thanks for listening and I look forward to seeing you in the next show.