A huge portion of CPG brand spend goes toward driving sales in national accounts, where brands not only have the biggest opportunity, but also carry the most risk. With such a massive investment in trade promotions, it should be no surprise brands are looking for new ways to guarantee ROI. That being said, 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.
In national accounts, a 55% success rate is far from ideal, but for years national account teams had no choice but to accept it as reality — they simply didn’t have the timely data regarding in-store execution required to ensure success. By relying on out-dated processes like email communication or word-of-mouth, just 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. This meant retail campaigns would be over long before brands could understand where and how they could improve.
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. Able to spot execution gaps across hundreds of stores within just a few hours or days, national account managers can maximize compliance during the first few days of a promotion so promotions can have an immediate impact on sales in their accounts.
In one of Repsly's latest eBooks, we lay out the three steps to take with national account managers to perfect retail campaigns. You'll learn how to:
- Stop waiting so long for updates from the field
- Say goodbye to wasted meetings with retail partners
- Close the loop and measure sales lift
Melissa is a recent graduate of Northeastern University and a content marketing specialist at Repsly, Inc. She is committed to applying her skills in order to bring value to Repsly readers and customers. Outside of work, Melissa enjoys practicing yoga, making music, and anything dog-related.