Brand business goals and key insights shape the field marketing programs we create for our clients. There are times when going an inch deep and a mile wide may be beneficial but more often we find the reverse approach – focusing on fewer accounts with deeper entrenchment – achieves greater results thus contributing to overall improvement in brand health. We call this the Bullseye Method.
Account Segmentation
Before selling, we identify the type of accounts the target consumer frequents, the behaviors they exhibit in the account, and the geography we need to cover. As we segment accounts, we are also focused on the accounts ability to achieve the Vs; viability, visibility, velocity, and volume. Additionally, we consider the 90/10 rule: 10% of your accounts will do 90% of your business. We look at those 10% of accounts to help determine what has made the brand successful. Once we can determine what makes them successful, we can expand that success by segment and tailor each activity to grow visibility, velocity, and volume in additional viable accounts.
Adoption Driven by Geography
Our approach to account adoption starts with a focus on a small circle of target-right accounts, preferably in a tight geographic area. Narrowing our focus by location is useful in urban environments where neighborhoods can also be identifiers of demographics. We can’t be everywhere but by achieving critical mass in our target markets, we can appear to be “everywhere” that consumer frequents.
Life Cycle of an Account
Upon buy-in from the account, we start with our non-budget KPIs; this includes relationship building through account visits and staff training, securing of the proper shelf position, seasonal or chalkboard menu placement and visibility via POS. We continuously monitor the sales of those accounts and as we notice growth in sales, we transition into budget KPIs. These include more permanent menu placements that offer print or menu support, visibility opportunities through distribution of custom or allocated POS, or account spends through influencer programs, trade programs, and promotions.
Still keeping our eyes on sales metrics, we look at the timeline and progress of each account. The performance metrics that we focus on are:
- Did we accomplish distribution?
- Did the rate of sale increase?
- Is the staff acting as evangelists for the brand?
Based on the answers to these questions we are able to determine whether these accounts are receptive to our program and good partners for future programming. This step is important because if you fail to properly assess the account you can waste valuable resources trying to convince them to participate at a level that may be unachievable.
Our account relationships are a two-way street. The brand (or agency) should come with a toolbox full of talent, proper programming, and desirable and effective POS. Conversely, the account should be willing to invest time, talent, passion, and effort into the brand.
Reinforcing the Segmentation and Expanding the Target
We analyze our successful accounts and programming to identify similarities. Successful accounts may fit in a certain profile, cater to a certain demographic, or run similar programming. Some standard examples of this are:
- Account Type: sports bar, gastropub, mixology or even deeper dives, i.e. brand does better in accounts where Rosé is a driver or brand does better in accounts that have high after dinner drinks sales
- Geographic/Demographic Groupings: adventurous consumers, classic cocktail lovers, premium spirits only
- Volume & Visibility Accounts: repeat success with programs that drive volume or visibility
- Subjective Groupings: deep relationships, well trained, and knowledgeable staff, involved buyer
From there, we begin to build our first halo of similar accounts to add to the bullseye and confirm programming for our expansion. The expansion outward, beyond the bullseye, may be in geography, account type, or another trend that has been extrapolated from the data collected.
More Than One Target – More Than One Arrow
The Bullseye Method is scalable and offers program flexibility through the “gated analysis” process. At each analysis point we look at what we’ve done, what those efforts have earned the client, and the lessons we’ve learned. We use that information to build next steps – geographically and in programming. This time-bound, geo-targeted, and budget-conscious approach allows our team to closely manage the client’s business and in turn grow in a sustainable yet strategic way.