Growth is not optional, as a lot of my FMCG colleagues would agree. If your brand or product is not growing, it’s dying. Also, growth is a daily process. It happens every day in small measure till one day you see mountains surpassed. Just ask Bizom’s customers.
But then, how can you ensure constant growth? Many FMCG veterans suggest that growth can be achieved by product innovation, and by constantly being up-to-speed with the ever-changing consumer landscape. They are right, of course. While it’s necessary to be in line with changing consumer demand, just product innovation and branding are not sufficient. What you need is a distribution to the “right” retailers. The definition of right retailers changes with changing product categories and price points.
For a long long time, surveys done by consumer research firms like Nielson or Kantar have been the only source for brands to know what are the right retail channels for them to distribute. This is good for boardroom discussions but rarely reflects in field execution. What’s more, survey data gets stale really fast and is often wrong due to limitations of sampling size and manual errors. So the probability of brands using the right strategies for distributing their product is often just as good as guesswork.
When Yuvraj Singh was asked about the secret of his success, he said “Obviously, a lot of things play on your mind when you’re batting. This might happen and this might not. The best thing you can do when you’re batting is not to think too much, and wait for the next ball.”
With Bizom, we realized that brands cannot grow by describing the state of affairs based on old incorrect survey data for the whole region. What they need are targeted actionable insights in the hands of field workers, telling them which next store they should add to maximize the sale of their product. So that’s exactly what we did with Bizom’s Market Expansion.
Bizom Market Expansion helps brands to find the right retailers to maximize sales for the product in its sub-category and its price point. The information is real-time and is delivered micro-geographically to the sales executives in their “beat plan”, where it matters. Just like Yuvraj Singh says, focus on the next ball/next store, not the whole match/market.
FMCG had never seen this level of granular actionable intelligence so far and some of the brands who have implemented this solution in the field agree wholeheartedly. To quote Anshuman Pandita from Unibic, “Within a few days, our sales team was able to discover 250 new outlets with Bizom Market Expansion. Out of these, 89% were ordered on the first visit itself. The biggest impact of Market expansion is the ease with which we were able to identify relevant retailers already carrying similar products. We definitely look forward to driving market expansion in India through Bizom”.
To conclude, real-time actionable insights delivered to field executives are the way to go for FMCG if you want to ensure a continuous growth trajectory. Not only CPG but even the mainstream media has come to understand that Bizom is the only source for real-time retail insights. Watch our coverage on ET Now and CNBC TV18 here and here.
Connect with us at firstname.lastname@example.org to know more about Bizom’s Market Expansion solution.
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