At FMCG sector, promotions are one of the most applied tools to attract customers and increase brands’ market share. They are one of the main spendings of an organization, while a wide range of people employed spend most of their time to plan their promotional calendar accordingly, track their product category’s promotions and optimize their promotion strategy at the total market and at each specific retailer. This condition makes it crucial for the organization to have access to the market promotions landscape at any time.
Unfortunately, tracking promotions and tailor-made activities, usually means a huge workload to salespeople and other organization’s member whose job is related to promotions data. According to the findings of HubSpot, in 2019 as many as 19% of sales professionals used to spend more than 60 minutes daily only on manual entering of market data into their employer’s database.
How promotions monitoring & analysis services help FMCGs professionals to free up valuable time.
With different challenges are being connected to promotions activities, services which provide the information of all tailor-made activities are taking place at Greek’s retailers landscape, could help FMCG companies release valuable time of their salespeople and insights teams, and to allocate resources within their teams much more effectively.
Here are 3 key benefits related to platforms which provide information about tailor-made activities are taking place at a wide range of retailers. Promotion tracking and reporting through an independent source could:
1. Reduce workload for sales and insights teams
Having all information of tailor-made activities organizing at one online platform, from category and brand to SKU level, reduces spectacularly the hours that salespeople spend on manual promotion detecting at field and reporting.
Promotions captured at weekly retailers’ leaflets, TVCs and those appeared at stores, are the key information FMCGs select to have their category’s promotional strategy. Taking into consideration that there are more than 20 retailers in Greece, more than 25 leaflets and TV spots are being published weekly and more that 1.000 promotions are being tracked daily at field visits to key retailers, someone can consider how much time and how many resources organizations are spending to find, source and track efficiently all promotions out there.
When data are available online with zero effort, significant time can be released. The released time could be used to focus on promotions insights, prepare offers more efficiently, or upgrade one's sales skills, leading to better sales results.
2. Increase uniformity in data
Although there are guidelines and templates to present promotions at the same way and format throughout an organization, achieving uniformity in data is a hard part of the game. The comprehensive excel files and data reports that could be exported from online monitoring platforms can be used from different team members across a department or an organization. Equipping different team members with the same monitoring tool makes this an even stronger approach, as any comparison between the data will be clear and reliable. This means less time on data preparation and easier data comparison!
3. Provide data based on speed, accuracy and granularity, any time
Promotion monitoring and reporting tools provide a wide range of information from category up to SKU level. Using an independent promotion monitoring platform, the scope and accuracy of the delivered data could be improved significantly, as strict QA processes are followed. Moreover, the depth of information provided is wide in order anyone at the organization can reach those data which are important to be effective and accurate at their daily tasks and field of responsibility.
In terms of accessibility, online dashboard of promotions monitoring services, helps FMCGs to gravitate towards iterative and continuous monitoring, shifting away from a model that focuses purely on periodic data collection and analysis. When data is processed and delivered in a timely way, data insights become actionable, allowing FMCG companies to deploy their resources where they are most needed and make corrections to execution as soon as possible. In parallel, FMCGs are building up a data set of historical data over time which can also identify which activations work, and which don’t.
Get access and save valuable time!
From collection to reporting and from accuracy to granularity, services such as Pockee Market Intelligence exist to help FMCGs track effectively promotions are taking place daily at their product category and at different retailers.
Presentation of data, filtering and exports capabilities, variety of reports and promotions monitoring key metrics (read more about key metrics at our blog post "3 key metrics to reveal Promotional Strategy at your product category"), all available at a user-friendly online platform, create a great opportunity for FMCGs to reduce promotions data collection and analysis time and focus on improvement of their promotion execution, lift sales and capture the market share.
Thinking about switching the way your team select and analyse promotions data? Let's get in touch to discuss more about Pockee Market Intelligence service, navigate to our promotions' online platform and meet all presentation and analysis capabilities.