If you have read the blog title and have landed on this page, I believe I have successfully demonstrated the power of good Trade Promotions (If you are not a believer already 😀 )
So let’s say, as the driver of sales at your company, you offer the most competitive schemes to your partners and end consumers. But would this alone guarantee increase product sales? NO!
Here’s a story of why.
Before becoming a product manager at Bizom, I was a distributor of mobile handsets. This industry has some of the most competitive trade promotions while being the most complicated as well. Multiple schemes on a monthly basis, often changing even while the scheme is live.
Our sales staff was adequately educated, but understanding these schemes and communicating them well (without any confusion) to the 300+ retailers we catered to was a challenge. As a result, we often faced problems at the time of scheme settlement.
Now, here at Bizom, I strive to solve this problem. Our Sales Force Automation (SFA) and Distributor Management Solution (DMS) help brands and distributors by providing:
Sales staff have access to all relevant trade promotions for every buyer they visit. The application provides the capability to state which SKUs are eligible, what benefits are available, and how a buyer would be eligible to qualify. There is no room for ambiguity as both the salesman and the buyer are able to understand the scheme 1st hand.
2. Tracking and accountability
On a monthly basis, every retailer is bombarded by 100+ schemes (from the numerous sellers he interacts with).
So then, how can a company ensure that the retailer focuses on their brands?
Bizom helps here in 2 ways:
a. Instant communication – Trade promotion details can be made available across the channel on the 1st of every month, giving the salesman the opportunity to tap the retailer at the start of the month itself.
b. Early tapping – Bizom also allows the selection of focus schemes for every buyer.
3. Tweaks to get the best results
The Indian market is so dynamic, that the initial scheme rolled out might need tweaks to gain a competitive edge. Our solution understands this small but significant business need by allowing edits to ongoing schemes! (This I truly believe is a game-changer!)
4. Control who gets what (thereby boosting sales)
Bizom provides brands with the highest level of control. Schemes could be configured to run at a national level or be so different that every outlet has something unique.
5. Stronger buyer confidence/brand image
Trade promotion is successful when the eligible person receives the benefit. Bizom not only provides crystal clear settlement processes but also offers the buyer a host of options at the time of benefit selection (Another killer feature :D).
Our interaction with 500+ brands on a daily basis makes our system a trade promotion champion offering a basket of options, an accomplishment all of us are truly proud of 😀
PS: While the title of this article is untrue, we do have competitive pricing for all our offerings.
Connect with us at email@example.com to know more about Bizom’s retail tech solutions.