The full report, available here, uncovers four priority sales capabilities that are crucial for organizations to focus on. Over the coming weeks, we will provide a short brief of each of those priority areas, which is expanded upon in the report.

The third of the four priorities is Retail Media Joint Wins, an ROI-driven view that presents opportunity to deliver results as consumers are shopping.

Retail Media networks are evolving in sophistication and significance, with the best among them proving to be intelligent investments that attract Marketing budgets beyond traditional Sales channels. For most retailers, these networks represent a critical profit stream and strategic priority, emphasizing the need for clarity in value propositions to differentiate funding requests effectively.

However, manufacturers are grappling with simplistic ROI models that often end at Return on Advertising Spend (ROAS). Retail Media holds the promise of influencing the behavior of specific priority shoppers, prompting manufacturers to prioritize networks capable of segmenting and directing programming at these individuals. Moreover, they seek networks that can demonstrate campaign performance and share data transparently for joint insight development.

Applying traditional Revenue Growth Management (RGM) principles and strategies through Retail Media networks offers avenues to enhance profit by optimizing mix and package assortment with the precision promised by these networks. This involves segmenting shoppers and strategically promoting specific packs to drive overall mix, capitalizing on the targeted capabilities of Retail Media networks.

Additionally, developing dynamic pricing models in collaboration with retailers is essential. This entails cultivating campaigns that allow both retailers and manufacturers to adjust discounts and supply based on the response from media network initiatives. By jointly targeting shoppers to either incentivize or discourage specific purchase behaviors, retailers gain a significant advantage, underscoring the importance of being the first to adopt such approaches.

Technology is rapidly advancing to decipher the growing volumes of data available to sales leaders. However, superior insight development skills are now more crucial than ever for effectively leveraging these analyses. Additionally, proficiency in strategy development and influencing skills is critical for implementing collaborative solutions with retailers.

Moreover, ‘critical thinking’ skills have emerged as indispensable in the sales landscape, enabling the creation of value through joint solution development with retailers. These skills are challenging to cultivate through training alone and are increasingly becoming a criterion for talent recruitment in manufacturers, particularly from functions emphasizing analytical problem-solving and insight-led strategies like category development.