Where does all the marketing bucks go? Probably on reaching and informing all prospective buyers of lucrative products & offers.
But does that always do the job to earn the revenue?
Somewhat yes and probably no.
Consumer product brands remain so engulfed in communicating their products and offers to their target audience, that they often forget to thoroughly communicate to the ones who are actually facing these prospective buyers day-in-day-out and are driving the business.
The retailers and distributors – the actual sellers of the brand’s products unmissable offers!
For example, a company is carrying out a BOGO sale on its newly launched brand. It’s also commissioning the supply chain sellers 10%, on every 100 units sold. But, since the distributors and retailers have never stocked this brand before, they are unaware of such schemes and are more inclined towards stocking well-known brands.
So, when highly motivated consumers visit nearby stores to grab the deal and try out the new brand, they only end up frustrated, as shopkeepers turn down the “likely-to-happen” sale.
Now let’s replace this with a real-life example. When the pandemic hit us, ITC launched a lucrative offer for its newly launched cigarette brand, WAVE.
Inside every pack of smokes, came a cashback coupon ranging from ₹5 to ₹50, which the buyer could encash at any retail store that sold WAVE cigarettes. If the box of cigarettes was sold in loose, the cashback reward went straight to the retailer.
However, because this cashback was nowhere displayed on the covering of the cigarette box, it became more difficult for retailers to realise the opportunity in stocking the brand, of which they were already unsure.
Thus, reaching the customer in the retail supply chain, is not just about reaching the end-user. Marketing promotional efforts must encompass the initiative of reaching the supply chain partners clearly, to drive the desired ROI.
Brands must be equipped with the right trade promotion tool, to vividly communicate every trade promotional scheme to the entire retail distribution network, promptly. Meaning, when salespeople visit stores to take orders for the brand, they should have real-time information on which promotion is active for each seller, product, and location.
Retail companies should have a system to directly communicate with their retailers about every ongoing promotion that can profit them both.
Likewise, distributors should get real-time visibility on every SKU scheme to plan and drive business for the brand accordingly.
And Bizom’s Trade Promotion Management is just the solution that makes all three a reality!
The TPM solution syncs seamlessly with the salesforce and DMS application for feet-on-street teams and distributors, respectively, to ensure all promotional information reaches the supply chain members in time.
Along with this, Bizom’s FMCG WhatsApp Ordering Bot enables brands to stay connected with their retailers and keep communicating about all ongoing promotions effectively.
A complete catalyst to boosting primary and secondary sales, TPM helps some of the leading retail brands in India to drive more efficient marketing spending.
If you’ve read till here and have begun wondering what level of output this tool can bring to your supply chain, let’s talk. Sign up here for a free product demo or mail us at firstname.lastname@example.org, and we’ll help you discover your future in retail.