Florida’s Natural Growers uses TPO software for quick post-event analysis.
The 5 fundamental questions all CPGs should be able to answer about promotional performance:
See Category Trends
Review your promotion’s effectiveness. Find out when your competitors promote their products to see whether or not there is a positive or negative impact on the category. Tell your boss about your top 5 retail customers and justify incremental spending.
Quantify COVID Sales
Quickly view (by retailer and product grouping) when sales spikes happen and how much the volume increased. By quantifying sales anomalies, you can accurately forecast for future years and eliminate that COVID-19 baseline bump.
Determine Promotional ROI
Compare your promotional ROI to your past promotional events – so you know whether or not it performed better or worse. Just because you had a positive ROI, doesn’t mean it was a great promotion, and a negative ROI doesn’t mean you didn’t gain category dollar share.
Florida’s Natural Growers implemented Blacksmith’s trade promotion optimization software in 2020. The company’s Trade Promotion Manager, Justin Balke, says that through optimization, the juice company can zero-in on important metrics to create promotional wins.
A strategic PEA capability offers clear benefits, specifically a better ability to evaluate promotions quantitatively and determine the tactics behind good – and bad – performance.
“We’re able to compare promotions in seconds versus hours. The math is done for us and at our fingertips.”
What You’ll Learn: