Success comes in series. That is, one success begets another and small success leads to great. You Hoyoung, the head of Mass Discount Store Sales 3 Team, worked out a Small Win strategy for bringing negotiations and deals to a successful conclusion. This strategy is based on thorough analysis of market conditions which has helped the team to improve both sales and profit. This good work rewarded them with the grand prize in the retail power strengthening category at the in-house innovation case contest, the ABC Awards. Fully armed with a winning strategy and confidence, You is looking forward to even greater success.

Our team is in charge of sales of household items in new growth channels. We manage duty free stores, discount warehouses and convenience stores, while at the same time searching and exploring new channels. We also develop products that are well suited for each channel and plan promotional campaigns. There was a need for strategies and new growth channels as sales in the retail outlet channel decreased and we, the Mass Discount Store Sales 3 Team, search for new growth engines that can help Amorepacific hold the edge in the ever changing market.

Small Win is our original sales strategy for leading negotiations. The strongest weapons in the field of sales are confidence, bargaining power and a good relationship with clients. We thought that we were in such a weak position because we mostly dealt with retailers and had to make our own success, however small, in order to boost our confidence. What we needed was the ability to quickly size up the situation, make a decision and close the deal. Individual team members enhanced their bargaining power and worked with the marketing teams and, in turn, we were able to achieve a series of success, from small to great.

First, we had to dull our idea of being in a weak position. The thing that team members were most worried about when we had to predict the result of negotiation was rejection from a client. We prepared accurate data and drew up a list of questions to ask the client in order to overcome our fear of negotiation. We also made scenarios as to what might happen and how we should persuade a client based on data. Though it took much time to prepare the data, the basis of our winning negotiations, it gave a much-needed sense of confidence to team members.

Our most difficult task is to make a contract that supports our annual profit margin. Clients always ask for a higher rate of return. If negotiations don't go well, the share of our products in stores and/or for promotional events will decrease. Last year, one of our clients strongly demanded an increase of 1% in the rate of return. We first organized data to back up our argument and then used it to convince the client quickly and yet rationally. As a result, the client agreed to change the rate of return according to the actual growth rate, instead of increasing it without considering the facts on the ground. It's a good case of our data analysis and Small Win strategy leading the negotiations to success.

The thought of being in a weak position breaks our confidence. Sales success depends on how well we keep our relationship with clients. I thought that the key to success was communication skills and knowledge of products when I first started sales work, but later realized sales success is all about the relationship. It's important to keep in mind that we're not mere sales representatives, but consultants. If we help our clients make a success based on mutual trust, they cannot reject our offer in the end. Prepare yourself as a consultant to work toward success together, so that you can take the lead in negotiations and achieve Small Win.

Competition in the retail market is growing fierce and customers are gradually moving to new channels, such as digital. It's our goal to improve our market share and rate of return in established channels while at the same time discovering new channels. Given that the number of tourists to Korea is increasing, how would it be if five-star hotels in Korea provide our products as amenities? Not a single high-end hotel in Korea currently uses Korean products as amenities. But, if overseas tourists can experience Korean products through brands like Ryo and illi during their hotel stay and grow familiar with them, it will bring about a great ripple effect. That's why we are analyzing customers and amenities used by five-star hotels to enter a new hotel channel beyond the retail market. Until this wonderful dream of ours comes true, we will continue to work and make small success every day through the Small Win strategy.