We are all susceptible to bias based on our previous experiences – whether that be in a different job role, brand we worked on, or relationships with a different retailer or individual buyer. The reason is simple….we are human.
We are all susceptible to bias based on our previous experiences – whether that be in a different job role, brand we worked on, or relationships with a different retailer or individual buyer. The reason is simple….we are human.
While tension is natural in this situation and we can’t eliminate it, decades of first hand experience has taught us some ways to ease this tension and increase the likelihood of finding a win-win solution.
Years ago, one of the finest sales professionals I ever worked with told me, “We all need to be alert and watch out for Sally at this time of year.” It was getting toward the point on the CPG calendar when line reviews, promo planning, and new item presentations were popping up on our schedules.
As a CPG executive, you are very familiar with the two primary retail formats: high-low and every day low price (EDLP). Depending upon your category, the percentage of customer ACV in the high-low format may be about 40%. Walmart is the obvious leader of (and highly committed to) its EDLP heritage. Other retailers vary, some with a hybrid or evolving strategy, as they seek to maintain and grow market share in this age of immediate price transparency across channels.
Gone are the days when finance-driven consumer packaged goods companies could have their own top-down selling organizations (including direct retailer headquarters representation and store level support) as a part of their go-to market strategy.
And the final score…New England Patriots 13, Los Angeles Rams 3. Whether you felt Super Bowl LIII was a close, defensive game or a total bore, the bottom line is that the Patriots made fact-based adjustments, executed better and came out ahead.
It is no longer enough for a sales executive to manage “trade spending.” CPG brands must manage all activities and investments with all retail customers in order to predictably manage their P&L. We call this approach Customer Investment Management rather than Trade Fund Management.
Years ago, one of the finest sales professionals I ever worked with told me, “We all need to be alert and watch out for Sally at this time of year.” It was getting toward the point on the CPG calendar when line reviews, promo planning, and new item presentations were popping up on our schedules.
