How You Can Size Up New Sales Opportunities With OPTRADE Active
The foodservice industry’s most powerful Operator database and software platform – Tibersoft’s OPTRADE – has built an enviable reputation for its ability to energize foodservice ‘go to market’ processes and campaigns. Key to this success has been its diverse and feature-rich modules, including the Direct Sales Module, Operator Review Module, Distributor Review Module and Audit, Authentication and Growth Modules.
To this powerful platform, Tibersoft is introducing OPTRADE Active – a new software module within the Explore solution set – to provide Foodservice manufacturers with keen insights into how their markets are performing and where to best grow their sales and improve profitability.
It does this by gathering and displaying the performance metrics of seven key market segments, including restaurants (independent, small-chain and big-chain), alongside the cafeterias and food courts that grace the healthcare, education, retail and institutional market segments. OPTRADE Active can reveal purchasing behaviors and how a case moves from a manufacturer’s warehouse to the end destination of the restaurant or non-commercial operator.
You can use OPTRADE Active to better understand the purchasing landscape. For example, a check-in may reveal that a specific segment such as restaurants may have the largest share of cases working their way that day through the foodservice marketplace. This info can be rolled up into Monthly Cases. The number of locations in a market, or the “Ship to Counts”, can also be viewed and quickly grasped.
The same review using OPTRADE Active for evaluating the situation in the healthcare segment might show a larger number of cases and not as many locations. Armed with this overview, you can make the best decision on how to allocate resources to grow the most volume, which will look different, depending on the segment such as restaurants or healthcare establishments.
For every account in a segment there are different values or Value of Placement (VOP) associated with each. VOP is a way of determining the average amount of case volume that you expect to sell into a new location over the course of a year in a specific market, geography, GPO, FMC or Distributor, once you’ve landed the deal. We also often call VOP “Size of the prize.” OPTRADE Active does all the work for you, calculating the total volume divided by the number of locations.
You have scarce resources and you need to allocate them to where you can get the most value. Knowing where to send them, where the opportunities are best, is crucial to growing volumes and profits. VOP may show, for example, that you’ll get a larger annual case return with a hospital (healthcare) location than another segment. Or why restaurants may be showing more monthly case volume. But it involves a lot of work selling to a multitude of restaurant accounts, versus a greater return by focusing resources on sales to, for example, a single hospital. Prioritization is, well…prioritized!
Analysis of sub-sections and tiers among segments is also possible. Stay tuned for a future blog that goes into that detail and more.
Interested in using this data yourself? Click here to learn more about OPTRADE Active.