Retail, CPG and Logistics
Top techniques for effective sales management and trade promotion success
Trade promotions and sales management are pivotal investments for CPG businesses, with trade promotions alone accounting for up to 20% of revenue—second only to the cost of goods sold (COGS)—and surpassing $500 billion globally. Both trade promotions management (TPM) and effective sales management are integral to a successful business strategy. As organisations aim for operational excellence, they must embrace emerging trends and advanced strategies to streamline processes and achieve higher ROI.
This article explores advanced techniques for optimising sales promotion management, integrating trade promotions with sales processes, and leveraging technology to ensure sustained growth and success.
Building a high-performing sales team
To drive sustainable growth, businesses need clear strategies and actionable steps for empowering teams, refining processes, and fostering collaboration. Here’s how:
- Define clear goals and vision: Inspire your team with short- and long-term objectives that provide direction and motivation for shared success.
- Streamline the sales process: Combine structured workflows with trade promotion strategies to enhance efficiency in lead generation, customer engagement, and campaign execution.
- Monitor and optimise with data: Use KPIs and metrics to track performance, identify weaknesses, and recalibrate strategies for real-time success.
- Foster collaboration and accountability: Encourage teamwork through knowledge-sharing, role alignment, and ownership of contributions.
- Empower teams with tools and training: Equip your team with advanced technologies and continuous learning opportunities to stay competitive in a dynamic market.
The role of leadership in trade and sales promotion management
Harmonising sales management with trade promotions is pivotal for achieving business success. Effective alignment between the two ensures cohesive strategies and maximised outcomes. Leadership plays a crucial role in driving this alignment, ensuring that sales teams and trade promotion strategies work in tandem to meet overarching business objectives. Strong leaders:
- Drive vision and strategy: Clearly communicate business goals and set a roadmap for achieving them.
- Mentor and guide: Provide ongoing coaching to team members, ensuring they develop critical skills for success.
- Encourage innovation: Create an environment where teams feel empowered to experiment with new ideas and approaches.
Leadership’s active involvement ensures that initiatives remain focused and adaptable to market changes.
Integrating sales management and trade promotions
Aligning trade with sales promotion management creates opportunities for revenue growth. However, fragmented workflows, siloed data, and unclear roles often hinder potential. Leading CPG and FMCG companies overcome these challenges by:
- Implementing integrated platforms: Centralise data across sales and trade promotion channels for seamless collaboration.
- Breaking down silos: Foster cross-functional collaboration among sales, marketing, and operations teams to align goals and accelerate execution.
- Adopting holistic lifecycle management: Align planning, execution, and measurement of sales and trade promotions to maximise value and achieve consistent optimisation.
Leveraging advanced technology for success
Technology is a critical enabler for streamlining operations and enhancing results in sales and trade promotions. Businesses can leverage:
- AI-powered analytics: Predict customer behaviour, evaluate campaign performance, and recommend optimisation strategies.
- Automation tools: Simplify repetitive tasks like budget allocation, promotional tracking, and reporting, freeing up resources for strategic initiatives.
- Integrated systems: Combine CRM and TPM tools to unify tracking of promotions, sales, and customer feedback, delivering actionable insights.
Adapting to change with agility
Remaining competitive requires businesses to reassess strategies regularly based on real-time insights. Predictive analytics and scenario planning enable proactive alignment of resources with opportunities, ensuring both efficiency and effectiveness in promotional efforts.
To further enhance agility, companies should:
- Invest in continuous learning: Encourage teams to stay updated on industry trends and technological advancements.
- Streamline decision-making: Empower managers with data-driven tools to make informed decisions quickly.
- Develop contingency plans: Prepare for market fluctuations by identifying potential risks and crafting flexible responses.
Data-driven optimisation
Tracking KPIs such as ROI, customer acquisition costs, and promotion effectiveness is vital for identifying bottlenecks and uncovering new opportunities. Scenario analysis helps test and refine strategies, minimising risks and maximising impact. Regular performance reviews ensure continuous improvement and sustained growth.
Moreover, businesses should prioritise:
- Customer feedback analysis: Incorporate insights from customers to refine promotions and tailor offerings.
- Competitor benchmarking: Evaluate performance relative to industry peers to identify areas of improvement.
Expanding cross-channel strategies
To stay competitive, businesses must expand multi-channel strategies, boosting visibility and fostering cohesive brand experiences that strengthen customer connections.
- Omni-channel integration: Ensure a seamless customer experience by aligning promotions across physical stores, e-commerce platforms, and social media.
- Personalisation at scale: Use data insights to craft tailored promotions that resonate with specific audience segments, increasing engagement and loyalty.
- Real-time adjustments: Monitor channel performance continuously, allowing for quick modifications to campaigns to maximise effectiveness.
How can Infosys BPM help?
Leadership, agility, and innovation are at the heart of effective sales and trade promotion management. Embracing these elements positions businesses to navigate complexities and seize opportunities, ensuring sustained growth and success.
Gain access to a global delivery model that enhances process efficiency, promotion effectiveness, and customer experience with Infosys BPM managing trade promotions services. Our solutions, built on industry best practices and years of collaboration with top global retailers and CPG organisations, ensure measurable results. Leverage our proven programmes like Be-The-Navigator (BTN) and Zero Distance, along with advanced analytics, to drive transformation and achieve sustained growth.
