Outside sales platforms enable producers and distributors of nutritional and fitness products and other services in the health and wellness industry to grow their market share.
Health and wellness industry growth “appears unstoppable”
The health and wellness industry is one of the fastest growing globally, and was valued at more than $4 trillion in 2018 – roughly the combined GDP of Canada and the UK. This follows an annual growth of 6.4% over the three years leading up to it, and is a trend that’s expected to continue, despite the current global business slowdown.
Global Wellness Institute (GWI) researchers, commenting on the 2016 global wellness economy monitor, argued that this growth trajectory industry “appears unstoppable”. The statistics released since confirm their prediction. This industry accounts for more than 5% of global economic output largely because of consumer health awareness and the active pursuit of activities, choices and lifestyle that lead to a state of holistic health.
What drives the unstoppable growth of the health and wellness industry?
Reasons for this “active pursuit” include ageing populations requiring treatment of chronic conditions, higher levels of anxiety due to modern lifestyles, and the availability of health information online, enabling people to practice self-care where professional medical help is not required.
The US health and wellness market generates roughly 36% of the global industry’s economic output, leaving Germany (11%) behind at a distant second. The main reasons for the US industry’s dominance include the size of the market, its consumer-driven culture, its technological strength, its consequent ability to innovate, and its massive spending on workplace wellness by employers.
Policy Advice compiled some of the following 2020 industry statistics, which indicate how US consumers spend money on health and wellness:
- 49% own a wearable fitness device
- 12% own smart clothing (e.g., to improve airflow or sleep, or aid injury recovery)
- 17% of worldwide tourism expenditure is represented by wellness tourism
- 28% of US-based gym members use spa facilities on a regular basis
- 79% of employers offer a workplace wellness program to employees
- 77% would work out more regularly if their employer offered gym facilities
- 78% of Americans have changed their diet after consulting a healthcare professional
Sales technology is key in remaining competitive in this growing industry
Regardless of how often and how much market dynamics change, producers and distributors who best understand and communicate with their customer base will grow their market share. In fact, periods of rapid change and uncertainty might be to their advantage if they can leverage sales tools to gain market share.
One such business is WD Agency, a niche distributor that gives small to medium-sized brands a louder voice in the health and wellness industry. We asked founder, Werner Daniel, to explain how Skynamo’s field sales platform changed the way they operate in the industry.
Skynamo helped make it all possible
“A big driver behind our business vision is the conviction that health and wellness products should be more affordable for end-users. And it begins by making things more affordable for retailers,” explains Werner.
Skynamo’s field sales platform meant that WD Agencies could punch above their weight and do a lot when they started out with a smaller outside sales team, and continues to enjoy daily success now as a growing sales agency. “When you have a product basket as big as ours, Skynamo enables us to pack almost three days’ manual admin into a day!” laughs Werner.
“Those video clips about how Skynamo changes daily life for sales managers and sales teams really do tell the story very accurately. Skynamo saves you so much time when you’re doing in-store order-taking for such a huge product basket. Setting up our product and pricing catalog in Skynamo was easy and now saves us a huge amount of time.”
Skynamo means a more confident, more productive sales team
A sales team with instant access to all the customer and product information they could possibly need is more confident and more productive. “A salesperson using Skynamo has a lot more confidence because they become much more reliable. When customers call them with a question or ask them something during a visit, they simply tap to the customer’s details on their device and answer questions or solve issues immediately. Skynamo motivates my team to do well because they can track their own performance and can see first-hand how their efforts are affecting customers,” says Werner.
Skynamo gives us a competitive edge
Productivity and increased sales follow, not only because outside sales teams are more eager to visit customers, but also because they have more time to visit them. “Skynamo increases the amount of time reps enjoy in the field to see customers, it helps them to be more effective, and to cut out errors and deliver a better service to customers. Organizing your day and increasing your productivity is so much easier,” Werner explains.
“If we look after customers they will look after us. The better service we give them, the more likely they are to continue ordering products through us.”
Make sure you are using the right sales tools to expand market share and succeed in the growing health and wellness industry.