However, We Make a Major Difference Supporting Small-Midsize North American CPG Manufacturers.
by Fred Schroeder
Others in our industry have recently touted their penetration for various types of systems, not simply Trade Effectiveness, across the Forbes Global ‘Top 25 Food & Beverage’ list. Over half of this list is comprised of tobacco, alcohol and durables, with a highly global presence. We don’t have, nor do we aspire to have, any clients on this list. Continue reading
by Fred Schroeder
I seem to have missed an email, or a blog, or maybe some ‘best practice’ introduced over the last year in regards to pricing. It seems that when someone asks you for a price for what you are selling, it now apparently means nothing. Later on, there seems to be this new practice where a prospective new client, who seems to be supporting us, is suddenly given the ‘new low price’ from a competitor. Continue reading
by Fred Schroeder
How often have you thought about replacing your Excel spreadsheets to address your lack of visibility into trade spending? I’m sure it’s crossed your mind.
And if you’re like most, you can’t spend countless hours developing an RFP (not that this is the best course), nor do you want to worry about the cost, time to value or other areas of uncertainty that process would bring to your life.
So, the spreadsheets will be fine for another year or two.
If you do start to explore the market, you might do an internet search, find a few ‘vendors’ that do this, and check out the websites of 2, 3 or 4. You then make your request, “Can we get a demo of your product?”
Having been in the CPG industry my entire career, and on this side for about 15 years, I know that the odds are, you will stay with Excel. Why is that?
We have been big proponents of the concept of “Consistent Complexity” when it comes to CPG manufacturers dealing with the trade.
The premise is while trade spending is complex, that complexity is the same regardless of the size or type of CPG manufacturer. So while you can’t use the same trade promotion approach with every retailer, most CPG manufacturers have to deal with the same retailer the same way.
For example, Publix uses BOGO’s. Therefore, different CPG manufacturers can be helped by trade experts familiar with the different accounts and how they handle trade spending. Continue reading
Many of us often fall into the trap of living in our own little world. We are busy with too many things to do so we just try to keep our heads above water, meet deadlines, and approach problems and retailers the same way we always have.
There’s comfort in having gone down this path before. Tried and true.
But could you be missing something better?
Could you be leaving money on the table?
Everyone in CPG who has anything to do with trade spending knows the importance of having a trade promotion management or TPM product / solution.
Not everyone uses one, and many don’t use it correctly, but most at least see the need and benefit. CONTROL. TPM products finally provided the visibility and a tool to manage and “control” where the money is going so it can at least be tracked with a relative degree of both timeliness and accuracy without sweating while waiting months for final deductions to come in that could dramatically impact the financials. Continue reading
The obvious answer is that software is complex and you need Subject Matter Experts (SME’s) to have the depth of experience and the time/role to evaluate all the solutions to provide an informed analysis of the focus, pros and cons of each solution provider. That is a 100% accurate answer. It’s just not the complete answer. Continue reading
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.”
WRONG! Continue reading
Some solutions are being positioned as fully transactional, able to handle all the trade promotion management needs of CPG manufacturers, so you have to be careful what you are reviewing. Therefore, you need to make sure they are capable of executing each step in the traditional TPM process of Plan, Execute, Monitor, Settle and Analyze.
There are several things to do to avoid making the wrong purchase. Continue reading
Too many small and medium sized (SMB) CPG’s seem to think that the “TPM software” is the panacea that will be the answer to their problems. Therefore, they send out their RFP and call in the usual solution providers in the TPM space for “demos” of the solution. And so it kicks off the next “rush to the demo” on the part of the providers anxious to display their fancy approach to clearing a deduction and how few clicks it takes to perform a particular function.
But this approach can be very misleading because maximizing trade promotion effectiveness (TPE) requires much more than just the software. It’s also about the approach, the partnership with the provider, and the ability to tap into a community of other SMB CPG’s for perspective and benchmarking. Continue reading