The Consumer Goods industry is undergoing a massive digital transformation. According to Salesforce, 99% of Consumer Goods companies accelerated digital transformation in the B2B Route to Market when COVID-19 hit in 2020. In the same report, 86% of CG leaders agreed that they would not have been successful without digital investments across multiple functions like Account Management, Retail and Field Execution, and B2B Digital Commerce. Trade Promotion Management (TPM) was one of three investments that were prioritized for CG leaders during 2020.
The need for a consolidated platform
Consumer Goods companies spend on average 20% of their annual revenue on trade promotions throughout the year. Salesforce found alarming statistics that further proved the need for their latest innovation, TPM:
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- 72% of promotions fail to break even.
- 60% of promotions go unevaluated due to a lack of analytical rigor and manpower.
- 58% of business users in a survey believe existing solutions are only somewhat effective at revenue management.
- 71% of customers use spreadsheets for trade promotion management.
Salesforce TPM allows you to take complete control over your trade promotions to manage trade processes across the entire cycle. As a manufacturer, you are working with the retailers to help drive profitable growth by placing the right promotion activities in the stores where the consumers are buying your goods. Ultimately that is the end goal, but it happens at multiple levels across your entire organization. Starting from Strategic Planning all the way through Reporting, here’s how Salesforce TPM helps you across your trade promotion cycle:
Consumer Goods Cloud Consultant Leader
Over the years, we have been using our experience to help digitally transform the consumer goods industry. As our main industry focus, we are proud to be on the Salesforce Consumer Goods Cloud Board, in addition to being the exclusive US launch partner of the Salesforce Trade Promotion Management (TPM) Pilot.
About Corrao Group
Since 2002, we have been helping B2B organizations of all sizes optimize their business processes with Salesforce and their third-party applications. As everyday Salesforce power users, Corrao Group understands how flexible the Salesforce platform is to support every business department. We’ve worked with nearly 1,050+ customers, implementing, customizing, and optimizing over 2,150+ Salesforce projects. If you are interest d in learning more about how Corrao Group can help your company, read our reviews on G2!
