How to Maximize Sales, Profits and ROI by Optimizing Go-To-Market and In-Store Execution
It’s no secret to anyone reading this blog that retail is undergoing a fundamental transformation. In order to stay competitive, retailers need to provide a superior shopper experience. In particular, this includes having the right products on the shelves at the right times.
As such, in-store execution is still a main operational priority for CPG companies as they continue to make significant investments in their go-to-market strategies. However, maximizing the business results from these GTM strategies has its share of challenges. For example, the labor for optimizing in-store execution comes from a variety of different, disconnected sources: the CPG suppliers, the individual retailer, brokers and marketing agencies. And, all have different labor models and working hours – some part time, some full time, others hourly or on-demand. The lack of cohesiveness, combined with the general lack of visibility that is common in retail execution, can add costs and inefficiencies, making it that much more difficult to achieve true in-store optimization.
In fact, based on the many conversations we’ve had with CPG executives, the biggest challenge CPGs face is getting the maximum value and ROI from these critical activities. Traditional in-store execution activities and related expenditures are often considered a necessary “black box.” The data isn’t always timely. The actions taken are mostly reactive, rarely getting to the root issue at-hand. Plus, there’s no definitive way to measure the ROI.
The good news is that it doesn’t have to be that way. By optimizing your go-to-market and in-store execution activities, you can dramatically increase sales, profits and ROI. Instead of reacting to the day’s issues with tomorrow’s actions, assess the data at hand, identify and solve the root cause of the problems so tomorrow’s can be avoided.
With a data-driven approach – using retailer POS and inventory data – you can identify the most profitable interventions instead of deriving actions from in-store visits. Arm your field teams with a predictive, prescriptive and timely action plan for in-store execution activities and you will remove the lack of visibility that most CPGs struggle with and gain a considerable ROI.
There is no better time than right now to capitalize on the advantages of a forward-looking, in-store execution strategy. Get started today by downloading RSi’s newly published In-Store Execution Comparison Guide. Don’t get stuck in the past — rule the future. Take full advantage of today’s technology and empower your field teams to drive growth, productivity and profitability.