Asking a fox to guard your henhouse without any oversight probably isn’t a great idea, especially if the fox gets to define what success looks like. And yet, this is effectively what CPG companies do when they set general GTM strategies and then hire brokers to handle the execution process as well as the data analysis and reporting.
Okay, maybe the analogy is a little harsh, but if the brokers who provide services for your organization also decide which metrics matter, they will understandably be biased towards numbers that make themselves look good. As a result, they may gloss over essential data that could help you identify opportunities for improvement.
CPG companies need a better way to measure success.
Manufacturers who invest in POS or Syndicated data to compensate for this problem often struggle to reconcile the information they acquire with results provided by their brokers. Comparing apples to apples can be surprisingly tricky. For example, suppliers may find distribution at 88% OSA through Syndicated sources, while brokers indicate distribution closer to 95% OSA. But how can both be true? Often it comes down to interpretation. This is why manufacturers need to have the capability to analyze data based on their specific business models.
Without question, brokers can be a great addition to your GTM approach. But, most CPG companies can positively impact their bottom line by developing their own account and retail strategies, implementing integrated reporting platforms, and taking a disciplined approach to ensure success across all channels.
You don’t have to go it alone.
If this sounds overwhelming, you don’t have to figure this all out on your own. Here at RW3, we have helped CPG companies achieve best in class execution for over 25 years across many different GTM approaches. We put you back in the driver seat, so you know exactly what is happening on the shelf and understand how your brokers perform in the real world.
Our first step is to collaborate with clients to develop clear goals and KPIs based on their critical drivers. We then develop a solution to integrate broker data and other information sources into a single platform featuring easy to use dashboards. Reports are designed to fit the needs of each organization and management team and are updated daily.
With RW3 you’ll get immediate visibility into results, and will be able to respond to what is happening in stores in real-time by tracking a range of KPIs including:
- New Item Speed to Shelf
- Market Manager & Instore selling
- On Shelf Availability – OSA
- Promotional Execution/Compliance
- Display Compliance
- In-store asset compliance & tracking
What does this look like in the real world?
When looking to improve On-Shelf Availability, Jennie-O Turkey Store partnered with RW3 to build a platform that could guide their internal sales organization and network of independent brokers. After completing a business assessment, our team designed a complete solution, including an InStore application to identify opportunities at individual outlets, and a dashboard to streamline all of their data into useful reports.
Long story short, Jennie-O realized a 13% increase in distribution, improved overall on-shelf availability, and achieved similar improvements in margins for its value-added business in less than 12 months. Here’s what their VP of retail had to say:
“RW3’s expertise helped us understand and implement a business solution to improve on-shelf availability of our most profitable products. We are now able to act on opportunities in our sales process to positively impact customer satisfaction at the shelf.“Barry Lynch, VP of Retail
Interested in hearing more?
If you want to learn more about how RW3 can help your organization take ownership of your Go To Market strategy and execution? Just give me a call at 925-984-3009 or email email@example.com. Once I know more about your specific needs, I can provide a no-strings-attached assessment of how we can improve the ROI of your broker investment.
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