May 4, 2023

Road to Brand Expansion with Brand Opportunities

Bridge Signal's newest feature helps you sift through the noise and create actionable to-do lists for better, more efficient account management.
Written by
Joe Cullen
Published on
May 4, 2023
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As a cannabis brand, you’re busy…really busy. Let’s say you produce a modest 5 SKU product line, and you’re in 10 stores, another conservative estimate. Assuming you sell every SKU to each store, you’re now responsible for 50 individual restock events — if you’re looking to expand, let alone survive, in a competitive market, your bandwidth is already spread thin across marketing initiatives, product development, & B2B sales.

So how do you manage 50 individual restock events on top of everything else? And lest I remind you, 50 restock events is on the conservative end of the spectrum.

Brand Opportunities

Introducing Bridge Signal’s “Brand Opportunities,” a collated list of restock events and other relevant action items designed to help brands efficiently manage existing accounts and discover new business opportunities.

Opportunity types tracked at the account-level include:

🟡 Stockout - One of your products has been removed from a store’s menu, and not re-added within the last 90 days.

🟠 At Risk - Mayday, mayday! Your brand name has recently fallen off of a store’s menu (within the last 30 days).

🔴 Lost - Lost, but not a lost cause. Your brand name hasn’t shown up on a store’s menu for more than 30 but less than 90 days.

🟢 New - Hooray, your brand has been newly added to a store’s menu (within the last 2 weeks)

What this looks like in practice...

Think of these “opportunities” as your daily to-do’s. Though organized, even these to-do’s can feel overwhelming — so how should you prioritize them?

1️⃣ Address Stockout opportunities first — ensuring consistency with your accounts is key to maintaining a healthy relationship. Try avoiding costly stock-outs in the future by using Bridge VMI to proactively manage inventory. Read how Washington-based brand Botanica reduced stock-outs by 19.6% with their retail partners.

2️⃣ Next, consider calling on your At Risk accounts — these are accounts that are familiar with your brand, but may require some extra love to encourage repeat purchases; retaining your existing accounts is critical and far less expensive than acquiring new business.

3️⃣ Lost accounts may require a heavier lift and sell. These accounts have dropped you, and unfortunately, it may have been intentional. Remind these accounts why they should continue working with you, show off your new products, and see if there are opportunities for budtender education.

4️⃣ Though last on the list, don’t falter on your New accounts — these accounts are still very impressionable and may require hand-holding until you’ve established a good buyer-supplier dynamic.

In-app navigation

In Brand Opportunities, click on Stockout or another opportunity type. Product statuses (i.e. stockout events) update three times per day.

Focus on restocking stores with high numbers of products removed. You'll find that contact information is readily available.

Click on View Details to see the specific products that are no longer in stock and their respective stockout dates.

Demo the data

Ready to start leveraging menu data with confidence? Reach out to our team today for a demo.

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