Rite Aid’s Bill Bergin shares growth vision at Elevation Forum
HARRISBURG, Pa. — “Why do many higher level supplier engagements fail? You minimize your competitor’s advantages, an inability to manage risk and ineffective messaging or poor alignment. And all this is fueled by fear. Fear of the relationship getting unbalanced, unprofitable or fear of being surprised by bad news.”
That was the opening message shared by Elevation Forum founder and Mack Elevation Forum leader Dan Mack. Mack’s forum, is a group of senior-level sales and marketing executives from a number of high growth health, beauty and wellness companies looking for an edge.
On June 10, the forum group and keynote speaker, Rite Aid’s Group VP, Health and Beauty conveyed their current growth strategies including further loyalty innovation around their Wellness+ with Plenti. Rite Aid has partnered with some of the most highly respected companies in the country to prepare for the historic launch of Plenti, the first coalition loyalty program in the U.S. This ground-breaking enhancement allows members to earn and redeem savings across various brands and retailers, delivering a unique and innovative loyalty offering in the industry.
“We have transitioned from a turnaround to a growth story,” Bergin said. “We will continue to test, learn and create the format of the future.”
IRI’s SVP, mid-market, Larry Levin discussed three core joint business planning analytics worthy of integration into every manufacturer’s customer meetings. They include incorporating “Share Leakage Trees” and the impact of assortment optimization and winning the new item analytics. Levin reminded everyone, “real time insights for action and growth are the new rules of engagement. Think smart data, not big data.”
The second part of the forum focused on not fall prey to the seven deadly sins of higher level meeting engagements.
“It is so important to have an outward focus. Your job is to uncover hidden opportunities your customer may not even be aware of yet,” Mack said. “It is vital that you diagnosis the problem (or opportunity) then prescribe the correct solution in a story format. Then tie it to the customer’s boardroom agenda.”
The last forum event for 2015 will be in September with the Sam’s Club health and beauty team. Prior to that, Drug Store News and Mack Elevation Forum will co-produce the Elevation Summit — “9 Dangerous Growth Ideas” in August prior to the National Association of Chain Drug Stores’ Total Store Expo.