In 2019, the average consumer packaged goods brand spent between 11-27% of its budget on trade promotions. Despite that, nearly 55% of promotions still failed to have an impact on sales. Why? because 68% of brands lacked the tech they need to optimize their promotions.
Many teams are still relying on out-dated processes like email communication or word-of-mouth, so getting visibility into execution at the store level could take an average of 12 weeks as teams struggled to compile incomplete data from multiple sources into useful reports. However, leading brands are now adopting a new model for improving execution in the field, called in-flight promotion optimization. By focusing on collaboration and data sharing between national accounts teams, field sales teams, and retail marketing teams, these brands are shaving months off of their reporting time.
One brand that’s leading the way with in-flight promotion optimization is Kraft Heinz. By prioritizing real-time data collection and reporting from the field, they’ve empowered their national accounts, field sales, and retail promotions teams to work together to ensure retail promotions are executed properly across the country. Check out the below video to hear about how they saw promotion execution success go up to nearly 90% (from around only 50%). To learn more about in-flight promotion optimization, check out the accompanying eBook.