Are you focusing too much on the demo and the software?
The typical place that the small and medium (SMB) size CPG manufacturers start when they recognize they need a Trade Promotion Management solution is the software itself. The belief is that the most important thing to do is “see the demo of the TPM product.”
Sure the TPM product software is important, but all too often the CPG team is inexperienced in the evaluation of TPM providers. So after the team sees a few demos over the course of a few days and sometimes weeks, it all blends together and most CPG participants in the process can’t remember which aspects of each demo was from which provider. Then what do you do?
Therefore, you need to be looking for a Trade Promotion partnership.
- It starts with a provider team that understands the complexities of trade spending in CPG.
- Look for them to be Trade Experts who know more about trade spending and management than you do because of their own experience on both the CPG manufacturer’s side and in working with many CPG’s on their TPM product.
- Then drill down to their processes for set-up. Do they help you all throughout or do they leave you on your own to acquire the data and information you need to supply?
- Do they offer ancillary, integrated, complementary services to help improve overall trade promotion effectiveness?
- Get references from a bunch of clients.
- Then speak to the analysts for they know all the solutions.
- Finally, do you like them? Do you trust them? Can you work with them? That’s #1.