POI Pulse Guest Column
In anticipation of a major promotional launch, CG companies plan compelling sales collateral and a set of economic enticements aimed at winning existing shoppers and persuading potential customers who currently buy competitors’ products. However, you may be missing one critical piece of the puzzle – timing.
It’s not just about what you have to offer – it’s also about when and where your promo offer will stand the highest likelihood of success.
This is especially true when a potential customer would be most inclined to consider switching could mean the difference between a successful or unsuccessful promotion. Guesswork will not help you win new business. Instead, let the data point the way – from the ground up. You have the data. What you need is a rigorous process to use it effectively.
Right Product, Right Customer, Right Time
For companies with thousands of products and thousands of customers, the potential number of product-customer configurations around key value drivers like price and promotional benefits is exponentially massive – too massive for simple human computation. TPO offers a way to tease valuable insights out of the data that you already have so that your promotional spend has the best chance of connecting the right customer with the right product – at the right time. The Promax Optimize solution takes your promotion returns to a new growth trajectory with ROI Analytics and Predictive Planning complemented by insights from skilled CPG domain experts and data scientists.
Promax TPO has predictive planning capability – giving users the ability to quickly and efficiently conduct ‘what-if’ analysis to model different promotion scenarios and review systematically generated business outcomes to determine the best combination of promotional inputs. It enables a powerful planning and analysis ecosystem that can be tailored to the needs of each business stakeholder.
In today’s environment of the connected, “digitally enabled shopper,” CPG companies and retailers need to know how to translate the rich downstream data into actionable demand signals. Next generation cell phone applications exist to inform shoppers where to get the best prices for products that they can now scan with their digital devices. CPG companies and their retail trade partners should strive to partner and advance trade promotion optimization initiatives to leverage these shopper level demand signals. Analysis of customer loyalty data can provide insights into the buying patterns and preferences of target shoppers. Additional data analysis could give marketers and retailers insights into which product positioning messages and value propositions, would be most effective with target shoppers. Retail promotions with a focused affinity marketing approach will typically provide significantly better results than the traditional broad-based “temporary price reductions.” In the rapidly changing consumer goods industry, there is an emerging consensus that the ability to transform data into useful insights is the “mission” critical requirement. Effective trade promotion optimization tools enable the processes and the business competencies are reviewed in this whitepaper that are required for successRead the complete paper with examples here to learn more
Author: Varun Kaushal, Business solution manager, Wipro. Visit our websitehttp://promax.wipro.com. Email us at WPAS-Promax@wipro.com
The new POI board members will be at the upcoming POI 2018 Retail Execution Summit, September 26-28, 2018 in Morristown, New Jersey and The Collaborative Marketing Summit, November 7-9, 2018 in Dallas, Texas
Coca-Cola’s Digital Tech Leverages AR/VR Source: (Food Dive July 18, 2018)
“Teams are changing the way they sell their inventory and looking for these types of solutions. “These experiences also help build the teams’ brands themselves, Dori Silverman, regional marketing director for Coca-Cola North America. Learn more
The POI Names Pam Brown as Chief Commercial Officer! Source: (Promotion Optimization Institute July, 2016)
With new CCO Pam Brown, POI builds on its leadership adding industry expertise in eCommerce, analytics, and consumer goods. Additionally, POI Advisory Board Adds New Members: Lisa Malleus, Head of ecommerce Digital Solutions at Mondelēz International, and Lisa Henriksen, most recently serving as Senior Vice President of Marketing and Customer Engagement at Meijer. Learn more
Wayfair’s Data Based Story Source: (Thinknum 7-19-18)
The e-commerce company shows no signs of slowing down, either. They’re focused on inexpensive products, positive user experiences with their digital products, and good customer service. Learn more
POI Fall Annual Summit, Dallas, TX “Collaborative Marketing Driven By Data Analytics”, November 7-9, 2018
Celebrate POI’s 10th Year Anniversary with 300+ CPG and Retailer peers! Attendees include: Energizer, Keurig, Dr. Pepper, 7-Eleven, Bimbo Bakeries, PepsiCo, Bush Brothers, Sargento, Rich Products, Bellisio Foods, Massimo Zanetti, DPSG, Deoleo Bertolli, Musco Family Olive, Daisy Brand, AAFES, Johnsonville, Kimberly Clark, Ajinomoto Windsor, Walgreen’s, Blue Buffalo, Pinnacle Foods, California Olive Ranch, Del Monte Foods, Mondelez, ConAgra, Del Monte, Novartis, J&J, Red Bull, Hormel, and more!
Unilever Growth Heats Up Source: (Food Dive 7-20-18)
Unilever’s CFO Graeme Pitkethly told The WSJ that weak inflation, Amazon, discount retailers and declining brand loyalty was particularly noticeable in condiments, where competition between Unilever and Kraft Heinz has led to the lowest average retail price on mayonnaise in North America in seven years. Learn more
Updated Agenda – POI Retail Execution Summit in NY/NJSeptember 26/28 Join Colgate, L’Oreal, DPSG, Mars, Kind Snacks, New Belgium, Kellogg’s, J&J, Mondelez, Kimberly Clark, Conagra, DSM Brands, Giant Eagle, Red Bull, Pinnacle Foods, Starbucks, Hormel, Del Monte, PepsiCo,Church & Dwight, Colgate-Palmolive, Coca-Cola, Constellation Brands, RXBAR, Ajinomoto Windsor Foods, Rich Products, Sprout Foods, Meijer, Deoleo Bertolli, Nature’s Bounty, Blue Buffalo, Bellisio Foods, and more!
Hallmark is Keeping it Real Source: (DSN July 18, 2018)
Hallmark is partnering with retailers to drive profitability by bringing the greeting card aisle to the online marketplace through its Click and Collect program. This focus on delivering new and innovative solutions comes at a time when the grocery industry is experiencing growth in online sales. Learn more
Why ‘Rule-Bound’ FMCG is Changing Source: (Marketing Week July 19, 2018)
Regardless of whether marketers are working in FMCG, retail or in the startup world, Anderson, former Mondelēz CMO, expects to see a closer “snuggling” of data and marketing, although the key will be to extract the case studies that show how data-driven insights flow into real business results. Learn more
Scholarship opportunities available!
“I truly enjoy meeting as a group and learning from the professors and colleagues at the POI Certified Collaborative Marketer program at Saint Joseph’s University.
Thanks for putting this certification program together, it’s fantastic!” said Veronica Escalante, Customer Development Manager, Sprout Foods, Inc
Amazon’s Prime Day 2018 Exceeds $1 Billion in Sales Source: (Digital 360 July 18, 2018)
Globally, Prime members purchased more than 100 million products during the 36-hour sale that kicked off on July 16 and ran through July 17. More shoppers signed up to be Prime members on July 16 than any other day in the retail giant’s history. Learn more
Amazon Advertising Working Directly with Brands Source: (Digiday July 19, 2018)
As for brands, working directly with platforms goes hand in hand with marketers trying to be more data-driven and take control of their media. Nissan VP of marketing for Europe Jean-Pierre Diernaz said that, overall, the company is getting closer to everyone: Google, Amazon, Facebook, with quarterly reviews. Learn more
Webinars: Visit POI for past events and webinars:
If you missed the live webinar on June 14, you can access the on-demand recording here.
Webinar: Switch on Growth in Action
In case you missed the live webinar on June 27, you can access the on-demand recording here
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