Kings & Queens
In the age of real-time analytics, Nielsen and its ilk are dinosaurs. They once ruled the world with their reports. But have lost relevance with outdated research methodologies and no access to real-time data. Here’s how Nielsen describes it’s measurement approach on their website:
In order to accurately represent the population of the market we are measuring, Nielsen captures data using surveys and panels that consist of a selected group of individuals represented by a sample (a subset) of the population.
As is evident, Nielsen’s data is not real-time. By extrapolating from a small subset of data, it also sacrifices accuracy. It’s the same for market research companies like Nielsen. They are slowly losing relevance.
Brands can get the market insights they crave by looking inwards, at their own data. They can look at their entire retail universe in numbers and accurately track primary and secondary sales down to the last SKU in each outlet.
Sure, consumer brands in emerging markets are only taking baby steps to digitise their retail ecosystems. But the performance of early adopters of digital supply chains has made it abundantly clear that the only way forward is digital transformation.
Transforming your RTM operations
It’s no secret that in emerging economies, brands have to work with millions of retailers, unlike in developed countries where a handful of retailers account for 70-80% of the sales. The latter follows the Direct to Retailer to Consumer (D2R2C) model, which gives brands greater flexibility in managing their sales and distribution.
At Bizom, we help over 500 brands to execute a D2R2C route to market model through our Retailer App, which is a B2B eCommerce platform. We advise them to adopt a customer digitisation journey that is mobile-first and data-driven, and follows four phases in its lifecycle – Identify, Onboard, Nurture and Scale.
Identify the right regions, channels and customers (retailers) to drive the biggest bang for your buck.
Engage these customers and help them to adopt your retailer app. It is a function of f(Incentives and Service) i.e. give incentives to retailers to adopt your app and provide excellent service by establishing a “Just in time” supply chain.
Nurture retailers by providing continuous offers and insights that can help them grow their businesses by implementing the right pricing, product, placement and promotional strategy.
Scale customer digitisation by building a multi-touch retail execution model across your business – channels, regions, product categories and customers.
For more about transforming your RTM operations, read our distribution playbook for emerging markets.
Why wait for expensive, 30-day old insights analysed from a small data pool when you can access real-time insights from your entire retail universe? Get Bizom OneView, an end-to-end CPG sales and distribution analytics platform to track your market in real-time. Watch the video.