Step One: Consumer Behavior & Marketplace
Painting POS or Retail Link data into a consumer picture is key in identifying how your product is purchased within a given retailer. The ability to profile your brand, product, or even SKU's within an account will enable you to identify your estimated shopper for product preference, promotions, or even assist with appropriate assortment.
> Download our guide sheet Consumer Profiling with POS Data
Step Two: Opportunity Identification
Smart suppliers are looking to tomorrow's volume as much as they are concerned with today's. Opportunity gaps are a measurement of expected sales versus actual sales, but within a consumer context. Once you have matched the consumer fit of your product or SKU to an account or store, an estimate of sales per consumer fit will allow the identification of underperforming stores. These stores will typically contain the best prospect for future growth.
> Download our guide sheet Incorporating Opportunity Gapping with POS
Step Three: Dynamic Clustering
Clustering is a critical step to adding scalability and accuracy to your account plans and tactics. An account is made up of numerous types of shoppers and generalizing an account as a specific skew or trait is simplistically marketing to the average. Efficiencies and smarter tactics are enabled by the use of store clusters.
> Download our guide sheet Incorporating Dynamic Clustering with POS
Step Four: Execution & Measurement
When you leverage the results from steps one through three you enter a position that enables you to execute for the consumer. Executing for the consumer is about moving beyond transactional measures and driving sales and value through consumer customization. When you execute for the consumer to mirror their shopping habits, you take a large step forward in getting the right products in the right stores. Continual measurement of these activities is dually important, as it ensures ROI and ongoing success.
> Download our guide sheet Executing for the Consumer
|
