Category: Trade Promotion Management (TPM)

Salesforce Winter ’24 Release Notes: Trade Promotion Management

It’s that exciting time again as we reveal the much-anticipated Salesforce Winter ’24 Release Notes, bringing a ripple of innovation and improvements. Amidst all of the features and cloud enhancements, there’s one area that’s catching our attention: Trade Promotion Management. The spotlight is on Trade Promotion Optimization (TPO), a game-changing feature that can help consumer goods companies improve the effectiveness of their trade promotion strategies. Let’s dive into the latest enhancements and features for Salesforce Trade Promotion Management.

Improve Performance of Promotions By Predicting the Sales Uplift Volume

Improve the effectiveness of trade promotion strategies by predicting the sales uplift volume for each promotion. Use these predictions to understand the impact of a particular combination of promotional tactics and attributes, improve the uplift volume by changing the promotional tactics for products, and maximize your investments in trade promotions.

Easily Identify Custom Periods by Using Custom Labels

Enable custom labels in your Sales org to use a custom period’s short description as a label. See the custom labels in various views in Trade Promotion Management, including Trade Calendar, promotion P&L views, volume planning cards, spend planning cards, account plans, customer business plans, and real-time reports.

Choose the Best Scenario for Your Customer Business Plan

Create scenarios in your customer business plan (CBP) while planning for current and future financial years. Easily exclude promotions from a scenario and manually adjust key performance indicators (KPIs) to simulate different strategies. Compare KPIs from different scenarios and activate a suitable scenario to maximize your revenue and sales.

Understand the Calculations Behind Your Promotion’s Profit and Loss

Use APIs to analyze information related to your promotion’s Profit and Loss calculations, including both raw data and calculated key performance indicators (KPIs). Review the source KPIs, calculation variables, and formulas used in the calculated KPIs. See how weekly values are distributed into daily values.

Export Key Performance Indicator Grids Using APIs

Use APIs to export Key Performance Indicator (KPI) grids in Trade Promotion Management. The APIs can trigger calculation events and retrieve KPI information based on product levels, subsets, periods, and period types. Retrieve data for a specific period in JSON, serialized JSON, or CSV format.

Gain Valuable Insights with Better Visibility into Bill of Material Products and Components

Export component level key performance indicators (KPIs) with their associated components in a CSV file. The exported CSV file contains information about promotions and their associated bill of material components, along with a field that indicates whether a product is a bill of material or not.

Add Product Attributes in Real-Time Reports

Define the product attributes that are available in a real-time report based on your specific requirements. Show additional product attributes, such as Product ID, Product Code, or global trade item number (GTIN), in a real-time report. Previously, real-time reports used only the product dimension, and you couldn’t define multiple product levels in the product hierarchy.

Use Real-Time Reports More Intuitively

Real-time reports in Trade Promotion Management now show totals at the top of the details section of a Key Performance Indicator (KPI) report, instead of at the bottom. If a promotion or tactic falls within the selected report time frame by at least one day, it’s included in the KPI report.

Get Intelligent Document Reader with Trade Promotion Management

Automatically extract information from uploaded documents by using Amazon Textract through your AWS account. Use the extracted information to create or update record fields, or to verify data that’s already in Salesforce.

Updates for Permission Sets

Improvements have been made to the permissions that are assigned to CGCloud Finance Admin, CGCloud Business Admin, CGCloud Finance User, and CGCloud Finance Manager permission sets to provide better access control. The CGCloud Refresh Update Activation Service permission set is no longer available in Trade Promotion Management.

If you would like to learn more about the Salesforce Winter ’24 Release Notes for Trade Promotion Management, please contact us.

About Corrao Group

For two decades, Corrao Group has stood as a pillar of expertise, assisting B2B organizations across various industries and sizes in implementing and optimizing their business processes through Salesforce and integrated third-party applications. With an unwavering dedication spanning 21 years, we have cultivated a deep knowledge and understanding of Salesforce as power users ourselves. This recognition of Salesforce’s flexibility empowers us to cater to various departments’ needs, ensuring seamless alignment. Our mission is to seamlessly translate your business processes into Salesforce, promoting not only successful integration but also widespread user adoption.

Sources

Salesforce Winter ’24 Release Notes Trade Promotion Management

How Salesforce Trade Promotion Management Solves These Top 3 TPM Challenges

Top 3 TPM Challenges

Defining Trade Promotion Management and its Immediate Necessity

Trade promotion is a marketing technique aimed at increasing sales of a product by making it more attractive to potential customers. A great example is the ‘Buy One Get One Free’ promotion that we see everywhere in stores. There are multiple departments involved, with many cumbersome processes involved. In today’s fast-paced world, companies are turning to new technology to support these processes. Trade Promotion Management (TPM) is the process of streamlining promotions planning, breaking down silos, and creating a single source of truth that helps maximize trade spend effectiveness. It provides in-depth insight into the volume and profitability of trade promotions to help manufacturers improve their business, and aids in gathering real-time data to produce actionable information.

Even before COVID-19, changes in consumer behavior were driving companies to shift to a digital strategy. The pandemic made it clear that cross-functional collaboration among supply chains, finance, and marketing needs to be more structured than ever before. With companies putting out 20% of annual revenue towards promotions on average (McKinsey), TPM software reduces the possibility of leaving money on the table or overspending. Without TPM software, companies in the US are losing 72% of revenue with promotions, and about 55% don’t even break even (Repsly). Most companies don’t realize these large losses due to not having analytics to easily show this data; one of the main challenges facing TPM. Other harmful challenges include having outdated & unscalable technology and time-consuming manual processes that have become archaic in today’s world.

Outdated and Unscalable Technology

Many companies use ERPs combined with Microsoft Excel to run most of their trade promotions. While effective to start, these systems quickly become outdated. They do not have the required intelligence and planning built within them to manage a company’s promotions. For example, the manually built experiences never capture the entire process and are difficult to scale along with the constantly-growing company. Homegrown technologies aren’t usually the most user-friendly either. With the primary focus on “just making it work”, UI always gets left behind. If users aren’t finding the technology effective to use, user adoption always suffers. Internally built systems also consistently “break” and are costly to fix, requiring constant updates that delay everyday users. If the main architect leaves the company, it’s extremely difficult to pick up where they left off. Hiring a new architect will be costly as they need to review the entire structure, and typically need to make their own updates in order to take control of it.

A TPM software, such as Salesforce TPM, provides world-class technology to help companies control every technological aspect of their trade promotion. Using industry best practices, Salesforce TPM takes the processes and technologies that have helped Retail and Consumer Goods companies plan, execute, and track promotions and provides them to all customers. The system is scalable, sound, and constantly updated with new features to help its customers. The extremely user-friendly TPM system also makes it easier than ever for anyone involved to use the system. Available training is also available for users to understand their system and even suggest new ideas to their Admins to further enhance the customizable solution.

Time-Consuming Archaic & Manual Processes

An Account Manager’s time is stretched thin between planning, developing, and implementing promotions. These labor-intensive tasks can be extremely time-consuming without TPM software. They also need to coordinate with field reps, drive store initiatives to ensure stock is fulfilled, and analyze if they drove positive ROI. Having to complete all these tasks manually results in high overhead and potential data entry errors, causing headaches, requiring steps to be redone, ultimately slowing processes down, and costing the company money. That’s only the Account Manager. Rinse and repeat for District/Territory Managers, Sales Reps, Merchandisers, and the rest of the team, and the entire process can be extremely costly. Manually copying and pasting promotions without adjustments no longer work in today’s world either. Managers need to make adjustments before and during promotions, and doing so manually is cumbersome.

TPM software completely streamlines the entire trade promotion process, while allowing real-time visibility into the entire process. No more waiting for specific excel sheets from one person. Managers can quickly drill down into the Account or Store level, see promotion performance, and make adjustments on the fly within minutes in order to boost sales. Email notifications are automatically sent out based on these updates, ensuring everyone is kept in the loop without any surprises. Promotions can easily be cloned via drag and drop, where Reps can make adjustments that take effect immediately. Trade budgets and accrued liabilities data are in real-time so Account Managers can verify available funding to support trade plans and match claims with payment once the promotion has finished. TPM software allows teams to spend more time selling, rather than getting stuck in the manual processes. These are just a few ways TPM software is accelerating the industry.

No Easy Access to Analytics

On average, 60% of promotions go unevaluated due to the lack of analytical tools and staffing (Pointstitue). Without TPM software, companies are left in the dark when it comes to easily reporting on the success of their promotions. It can take hours to pull together metrics across multiple systems, and there’s always the chance of incorrect numbers being shown. With 72% of US companies actually losing revenue on promotions, managers need to know which ones were unsuccessful so they don’t repeat them year after year (McKinsey). Success metrics including POS growth, primary vs secondary vs tertiary sales, consumer units, incremental and spend ratios, and ultimately ROI need to be readily available in today’s fast-paced world. Manually gathering these metrics across archaic systems is no longer an option. Managers need this information in real-time, with the ability for others to also have access to the data.

Companies can unlock larger ROI from their trade spend investment if they can spot and scale their most profitable programs immediately. TPM software provides easy-to-use analytics that displays all key promotional stats in real time. Salesforce TPM even allows for the ability to easily create custom reports and dashboards to track custom KPIs from company to company. Dashboards can zoom out to display all KPIs across all promotions run that year with the ability to drill down into states, regions, cities, and specific stores. Filters can display KPIs on how specific promotions performed nationwide as well. Analytics allows teams to replicate the highest-performing promotions, and eliminate promotions that fail to break even.

Trade Promotion Management Exceeds the Standard

Without TPM software to help plan, manage, and track promotions, each one is at risk of causing overspending, stock surplus, and negatively impacting the customer’s perception of your company. The RCG industry has undergone massive changes in the last few years, causing new technology to emerge that streamline processes across the company and boosts ROI. Software like Salesforce TPM for Consumer Goods Cloud provides the ability to maximize employee productivity and maximize ROI on trade promotions.

Is Salesforce Trade Promotion Management (TPM) Right for You?

Trade Promotion Management Today

As we are midway through the year, the Consumer Goods industry continues to confront economic challenges. Supply chain and customer demand continue to be volatile as consumers are making buying decisions based on what they can afford versus what they want. As these issues extend, competition in the industry will only increase. Digital Transformation is now no longer seen as an option but as a necessity. As Salesforce recently stated, customers expect fast, digital, and on-demand experiences or they will take their business elsewhere. Leaders across the country are focusing on efficient growth, cost savings, and increased productivity. In our last blog, we mentioned that Trade Promotion Management was one of three investments that were prioritized for CG leaders during 2020. Managing and optimizing trade spending is vital to driving profitable growth in today’s economy.

What is your ROI from Trade Promotions?

One of the most relevant issues facing brands right now is how they are managing and optimizing trade promotions. According to Mckinsey, CPG companies worldwide invest about 20% of their revenue annually in trade promotions. Stunningly, 59% lost money (72% in the US). Clearly, there is a huge opportunity for both CPG manufacturers and retailers to improve ROI on their TPM investment. If CPG leaders want to focus on growth, cost savings, and increased productivity, the current systems being utilized are not working just to break even.

Some companies are managing their Trade Promotion on homegrown systems, which is associated with risks such as limited knowledge, internal integration problems, and future enhancements. At the end of the day, whether you use a homegrown system or not, can you accurately measure ROI from trade promotions? If you can’t, then it’s time to start thinking about moving to a digital and unified platform.

Salesforce Trade Promotion Management

Salesforce recently released its Consumer Goods Cloud Retail Execution solution, Trade Promotion Management, to help the consumer goods industry drive revenue growth and collaborate across teams on one connected platform. Having a centralized system that supports integrations with ERP, POS, and other data sources is critical. Salesforce TPM helps accelerate the monitoring of key metrics and improve ROI and forecasting in real time. Salesforce Post-event analysis allows brands to conduct an analysis to determine the ROI achieved for individual activities, contracts, programs, and account plans. If you are managing more than $30 million in TPM funds, you should be looking into Salesforce’s TPM solution.

If you would like to learn more about Salesforce TPM or Salesforce Consumer Goods Cloud please contact us.

Learn More about Salesforce Trade Promotion Management

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 Consumer Goods Cloud Partner Advisory 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!

Consumer Goods Cloud Trade Promotion Management: Key Features

Managing and optimizing trade spending is vital to driving profitable growth as the consumer goods industry faces a host of challenges. Salesforce’s latest solution, Trade Promotion Management (TPM) is now generally available on Salesforce to help brands manage and optimize trade programs on one unified platform.

Key capabilities of Salesforce TPM include strategic planning, funds management, account planning, promotion planning, promotion execution, joint business plans, and post-event analytics. Learn other key features below.

Salesforce Trade Promotion Management: Top Features

Scenario Planning

    • Analyze Year-to-Date results with projected promotions to strengthen your business cases for trade promotions.

Real-Time Calculation

    • Calculate promotion measures as well as their impact on account plans on the fly without requiring a save action.

BOM Support in Promotions

    • Plan Bill of Materials in Promotions and send conditions on header or component level.

Customer Business Planning

    • Enable customer business planning for a single account and one or multiple categories.

Simple Promotion Creation

    • Provides a configurable simple promotion creation wizard for better user experience and ease of use.

Flexible Condition Search & Generation

    • Search pricing conditions across product and customer hierarchies traversing specific to generic as well as generate conditions on flexible levels.

KPI Configurability

    • Easy to configure key performance indicators for all TPM business processes.

Rate-Based Funding

    • User-friendly way to support live rate funding for key accounts.

Funds & Claims Management

    • Provides account managers with clear visibility to trade budgets and accrued liabilities. This allows them to verify available funding to support their trade plans and match claims with payment once the promotion has finished.

Real-Time Reporting

    • Flexible views on all TPM relevant data (e.g. account plans, promotions) based on the various user persona needs.

Salesforce 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 Partner Advisory Board, in addition to being the exclusive US launch partner of the Salesforce 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!

Manage Trade Programs Across the Entire Cycle with Salesforce TPM

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:

    • 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:

Salesforce Trade Promotion Management Process

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!

Optimize Trade Promotions with Salesforce TPM

Salesforce TPM Unlocks Data-Driven Insights

Trade promotions that are well executed may significantly boost consumer demand for a company’s goods in retail stores. These trade campaigns, however, frequently fail due to outdated processes and technology.

These planning inefficiencies have a variety of causes. Account managers don’t have enough time to plan and execute effective trade promotions. Even then, planning can be siloed between different spreadsheets, accounts, homegrown systems, and brands.

Additionally, account managers often replicate the same promotion from the year without assessing and optimizing new promotions. Add on the tedious and sometimes disconnected process of reconciling payments from previous campaigns; it’s no wonder why brands’ TPM campaigns continually fail.

So what are the solutions to making trade promotions more effective? Salesforce Trade Promotion Management (TPM) and Data.

Here’s how Salesforce TPM allows brands to use data-driven insights to optimize and maximize their trade promotions.

Trade Promotions Today

According to Salesforce, 72% of promotions won’t break even. On top of that, 60% of businesses rely on spreadsheet-driven processes that don’t use real-time data, don’t connect with AI-driven analysis, and are difficult to manipulate at the account level.

Managing your accounts and revenue on one unified and connected platform benefits your trade promotions by:

    • Providing a library of promotions that enable dynamic funding
    • Accurate reporting with real-time data
      • Monitor and act on trade promotions across your entire platform
      • Improved visibility into spending and ROI
    • Faster promotion creation
    • Time-Saving Account Plans

Brands can realize these benefits by implementing the Salesforce Trade Promotion strategies below.

Salesforce Trade Promotion Calendar

Salesforce’s Trade Promotion Calendar allows you to plan the customer account with a simplified interface that minimizes data entry. You can view essential aspects of your account plan with adaptable views by user persona. Salesforce trade calendars can include all types of promotion events like discounts, coupons and rebates, demonstrations, trade promotion events, and trade shows.

With a live spreadsheet P&L, brands can view the performance of KPIs with enterprise visibility to identify holes in their trade plan for maximum ROI and book your calendar with the most effective trade promotions.

Post Event Analysis

Only 9.5% of companies are able to monitor promotions in-flight and reallocate ineffective investments. Salesforce Post-event analysis allows brands to conduct an analysis to determine the ROI achieved for individual activities, contracts, programs, and account plans. Gain powerful insights into your promotions to see how they performed vs. expectations.

Post event analysis from Salesforce TPM allows brands to have:

    • KPI P&L Analysis
    • Promotion & Tactic Reports
    • Account Reports
    • Flexible KPI Exports

Salesforce 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 Partner Advisory Board, in addition to being the exclusive US launch partner of the Salesforce 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!

Salesforce for Consumer Goods Announces New Innovations

Salesforce has announced new innovations for the consumer goods industry that allows them to increase automation, expand selling opportunities, drive profitable growth, and more. As the consumer goods industry faces difficult challenges, it’s becoming critical for brands to shift to a digital and consolidated platform for business growth. Salesforce for consumer goods has announced the following innovations: Trade Promotion Management (TPM), Offline Penny Perfect Pricing, B2B Commerce & Marketplace, and MuleSoft Accelerator for Consumer Goods.

Trade Promotion Management

Salesforce Trade Promotion Management allows you to optimize retail pricing and promotions in real-time to maximize trading effectiveness. Manage reconciliation of claims and deductions against promotions and funds while streamlining settlements. Track the effectiveness of your promotions with real-time reporting. Learn more about how Salesforce TPM can optimize trade activity to drive revenue growth on a connected platform.

We had the honor of being one of seven global consulting partners exclusively chosen to participate in Salesforce’s Trade Promotion Management Pilot program this year. We partnered with a leading sports drink company to set up, run, and manage their promotions. Learn more about the pilot here.

Offline Penny-Perfect Pricing

Offline Penny-Perfect Pricing allows Sales representatives to take/place orders fully offline or anywhere with offline ordering— while promotion-driven orders help sales teams up-sell. Seamlessly calculate the penny-perfect price based on available promotions, flexible rules, and pricing conditions. Penny-perfect pricing ensures the price is consistent regardless of device, location, or internet connectivity.

B2B Commerce Wholesale Retail App

The new B2B Commerce Wholesale Retail App maximizes wholesale buying efficiency for consumer goods companies with sales collaboration, large cart ordering, and new virtual showrooms. The new Commerce Marketplace unites the fragmented buyer and seller landscape to create new revenue streams, giving brands and distributors the ability to expand reach by adding inventory to retail partners quickly.

MuleSoft Accelerator for Consumer Goods

Connecting critical data, systems, and applications like trade promotion management, product information management systems, and more will help you innovate faster. Mulsesoft Accelerator for Consumer Goods, companies can have a single source of truth for data and can quickly deploy trade and retail execution capabilities leveraging existing master data in traditional back-end systems.

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!

Sources:

Salesforce

Launch Partner for Consumer Goods Cloud TPM Pilot

We are excited to announce that we’ve been selected as the exclusive US launch partner supporting Customer 360 for Consumer Goods with Trade Promotion Management (TPM)! Over the past two months, we have been working with Salesforce and a top American Sports Drink Company on their extensive trade promotion program. We learned first-hand that Salesforce TPM can optimize trade planning, track effectiveness with real-time reporting, manage funds and budgets, and streamline claims management. Throughout the engagement, we have found key insights into Salesforce’s latest product:

Business Validation of Salesforce TPM

    • Current disconnected systems don’t allow for ROI monitoring of Trade Promotion Funding, i.e. to time and resource-intensive.
    • Large teams of resources are involved in the Promotion Funding reconciliation.
    • Few companies actually have accurate, if any, ROI reporting!
    • Having a centralized system that supports integrations with ERP, POS, and other data sources will be critical to accelerate monitoring key metrics and improving ROI and forecasting.

Salesforce TPM Pilot

    • The solution provides scalability to managing large TPM programs with reduced resources.
    • The ability to easy clone Trade Promotions for future years will be a game-changer in the reduction of resources.
    • UI supports the Promotion KPI performance while also allowing for granular details with a few clicks.
    • KPI setup process provides real-time visibility for planning and active promotion.
    • The Scenario Planning feature is a game-changer for analyzing Year-to-Date results with projected promotions. This feature is also available for updating the balance of the year to optimal ROI.

If you would like to learn more about Consumer Goods Cloud TPM or the TPM pilot, please visit our website or email us at tkeil@corraogroup.com.

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 Consumer Goods Cloud Partner Advisory Board.

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!

Salesforce Announces Customer 360 for Consumer Goods with Trade Promotion Management

Salesforce has announced Customer 360 for Consumer Goods with Trade Promotion Management. Customer 360 for Consumer Goods delivers profitable growth as companies can increase profitability, win at the shelf, build brand relevance, and work efficiently from anywhere. With one single source of truth, Customer 360 for Consumer Goods gives you an intelligent and robust solution to help manage key accounts, deliver profitable growth, and accelerate time to value across your entire organization.

Salesforce Trade Promotion Management allows you to optimize retail pricing and promotions in real-time to maximize trading effectiveness. Salesforce TPM gives your team the resources they need to plan, manage, and execute relationships with distributors, customers, and end-consumer marketing on a consolidated and integrated platform. With Trade Promotion Management digitized, your brand can optimize trade planning, track effectiveness with real-time reporting, manage funds and budgets, and streamline claims management. To learn more about Salesforce Trade Promotion Management, visit our blog: Digitize, Unify, and Integrate Your Trade Promotion Management with Salesforce

We are excited to announce that we’ve been selected as the exclusive US launch partner supporting Customer 360 for Consumer Goods with Trade Promotion Management! Over the past two months, we have been working with Salesforce and a top American Sports Drink Company on their extensive trade promotion program. To learn more about the TPM pilot, please visit our blog: Launch Partner for Consumer Goods Cloud TPM Pilot.

Salesforce TPM Features

To learn more about Salesforce TPM, please visit our website.

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 Consumer Goods Cloud Partner Advisory 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!

Digitize, Unify, and Integrate Your Trade Promotion Management with Salesforce

Grow Revenue With Salesforce TPM

Consumer Goods companies have been starting to transform a critical aspect of their business, Trade Promotion Management (TPM). According to Salesforce, 60% of companies rely on spreadsheet-driven processes that don’t use real-time data, don’t connect with AI-driven analysis, and are difficult to manipulate at the account level.

In today’s competitive market, brands need a modern way to manage their trade spending related to planning and ultimately ROI. Account managers need the tools to thoroughly plan their trade spending, assess their performance in real-time, and collaborate with cross-functional teams to identify the best ongoing approach and strategy.

Salesforce TPM allows you to take complete control over your trade promotions, allowing you to analyze promotion performance across customers, within customers, SKU, on-brand, and more to fully understand your performance and make crucial changes for maximum ROI.

Why Companies are Moving to a Unified Platform

With cross-departmental planning, consumer goods companies and retailers can target investments at the store and channel level. Omni-channel selling has made the route to market more complex as companies are now engaging with multiple partners across in-person and virtual teams.

Traditional CG models utilize spreadsheets or homegrown systems to track, report, and analyze all promotions across multiple partners. Using a spreadsheet to track promotions does not support real-time collaboration and accurate ROI. Manual processes take away from selling and analyzing, making it impossible to identify what’s working and what isn’t in real-time. Here are four reasons why CG companies are shifting to a consolidated TPM platform.

Route to Market is Getting Complicated

    • Companies today need to be able to target and create different promotions with multiple omnichannel retailers based on channel, region, and store buy-level. It becomes impossible to track and manage various promotions in spreadsheets or homegrown systems without real-time TPM data.

Manual Tracking

    • Utilizing Spreadsheets and homegrown systems to track promotions is hurting your company. Working on spreadsheets is cumbersome, inhibits collaboration with file permissions, and is prone to be inaccurate.

Accruals and delays in reporting can result in P&L issues

    • According to Salesforce, 60% of trade promotions go unevaluated due to a lack of analytical rigor and staffing. CG companies utilizing spreadsheets deal with P&L issues as they fail to learn which promotions bring in the best revenue vs which don’t. Analyzing trade spend efficiency becomes difficult to manage without real-time data, as reconciliation occurs in the following quarters. You need the ability to pivot or quickly scale based on promotion performance.

No Ability to Clone/Replicate Successful Promotions

    • After completing a successful promotion, wouldn’t it be nice to clone or replicate the same promotion in less than 2 minutes? Account Managers are spending way too many hours reinventing the wheel of successful promotions when they could be focused more on developing strategies and relationships for more profit growth.

Salesforce Trade Promotion Management (TPM)

58% of business users do not have the real-time data and analytical tools to thoroughly evaluate the effectiveness of their trade fund programs (Salesforce). Salesforce TPM can help you improve revenue growth by optimizing trade activity on a consolidated and integrated platform. Investigate promotion performance across customers, within customers, on-brand, SKU, the event level, and overall performance.

With one single source of truth, Salesforce TPM gives your team the resources they need to plan, manage, and execute relationships with distributors, customers, and end-consumer marketing. Here are the ways Salesforce is helping businesses create a digitized, unified, and integrated TPM platform.

Maximize Trade Spend Effectiveness

    • Plan the customer account with a simplified interface that minimizes data entry.
    • View essential aspects of your account plan with adaptable views by user persona.
    • Identify holes in your trade plan with a comprehensive trade calendar.
    • View performance of KPIs with enterprise visibility and live spreadsheet-like P&L.

Deepen Trade Promotion Analytics

    • Increase trade spend efficiency with post-event analytics and visualization of performance metrics.
    • Identify and effortlessly clone successful promotions.
    • Compare planned uplift vs actuals with sell-in and consumption data.

Manage Funds and Claims

    • Deposit, transfer, or adjust funds and monitor budgets to evade overspends.
    • Review budgets within a single or consolidated checkbook view.
    • Manage reconciliation of claims and deductions against promotions and funds while streamlining settlements.

Strengthen Cross-Functional Alignment

    • Collaborate with marketing, field sales, and finance on a single platform to better manage 360-degree support plans.
    • Find optimal account or promotional plans with scenario planning and real-time performance comparison.
    • Share promotion details to gain alignment from internal stakeholders and retail partners.

If you would like to learn more about Salesforce’s Trade Promotion Management (TPM), please contact us!

Salesforce 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 Partner Advisory Board, in addition to being the exclusive US launch partner of the TPM Salesforce 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!

Sources 

Salesforce Trade Promotion Management Images

Salesforce Trade Promotion Management