The Promotion Optimization Institute just recently published a new whitepaper, “Winning Through More Insightful, Better Executed Promotions,” as a follow up to their paper, “The Evolution of Crowdsourcing: Rise of Performance Driven Merchandising.” In this new whitepaper, the POI discusses how manufacturers can improve the return on their trade spending. Building on top of the foundation of improving in-store execution (which was the topic of the first white paper), manufacturers can further improve their promotions through deeper promotional insights.
Utilizing the qualitative details of a promotion such as display location, vehicle, or POS elements executed can provide a more comprehensive understanding of which execution details really drive sales. Understanding these details gives manufacturers other levers to change and improve on their promotions besides just price. In today’s zero-based budgeting world, manufacturers must more closely examine the ROI on their trade spending and find creative ways to stretch each trade dollar.
Historically, detailed information behind the qualitative characteristics of a display promotion was not easily accessible at scale. If manufacturers wanted to understand the details of a display’s location, the type of vehicle used, or the POS elements on the display, they could ask their retail reps to walk the stores and take pictures. However, the inherent flaw with that system is that the data collected would be biased (only showcasing the flawless displays) and limited at scale.
Quri’s latest offering, Category ZoomTM, provides a complete look at the details of display execution for an entire category, down to the store level. With these details available at scale in near real time, manufacturers can start to assess the quality of their merchandising execution and start focusing on the execution details that truly make a positive impact on their promotion.