Sales Capabilities of The Future

Segment Focus 1 of 4

Transformation Through Technology Fueled Insights

Transformation Through Technology Fueled Insights

May 7, 2024

Thought Logic’s Sales Capabilities of the Future report is an annual analysis of the current marketing landscape that is based on in-depth interviews with leaders in the Consumer Packaged Goods (CPG) industry. In it, we uncover transformative trends that impact market forces on leaders and organizations.

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.

Our initial focus will center on highlighting the critical importance of Technology-Fueled Insights. This pivotal capability underscores the transformative power of advanced technologies in driving actionable insights and strategic decision-making through:

  • Identifying Opportunities vs. Explaining History
  • Requirement to improve shopping experience
  • New horizons for tech-fueled insights

Identifying opportunities vs. explaining history

It’s crucial to recognize the priority of developing tools and skills that anticipate challenges over merely measuring historical performance. The present moment stages an opportune time for the integration of predictive analytics tools, particularly on both the sell side (assortment, display, and promotion optimization) and the supply side (demand planning and logistics).

Winners in this space will possess a deep understanding of what precisely drives demand and conversion, thereby unlocking the potential for significantly more powerful personalization. Investment and experimentation are imperative, given that most of the necessary data and technology are readily available.

Successful implementation hinges on cultivating partnership and trust with retailers to test and scale initiatives effectively, with a particular emphasis on practical implementation at the store level to provide granular insights.

Even companies that have the right data frequently fail to act on what the data tells them…Thus, companies oftentimes capture only a fraction of growth opportunities revealed in their data.

– Harvard Business Review

Untapped opportunities in Retail Media

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.

Retail Media Networks are a prime opportunity to bridge the physical and digital shelf and truly leverage the power of analytics to make the most of every trade and marketing dollar, which is rightfully scrutinized.

– Forbes

Requirement to improve shoppers’ experiences

Unlocking growth opportunities through optimization (assortment, delivery, in-stock) requires time and effort but yields finite rewards once achieved. However, the true key to sustainable growth lies in solutions that enhance the shopping experience and meet evolving shopper expectations.

Leveraging rapidly developing technology allows for the identification of shoppers with specific needs, such as those seeking hard-to-find items or specific product information. Proprietary solutions offering superior virtual experiences, such as live advice from trusted experts, are paramount. Focusing on delivering a superior experience worth paying for not only builds trust and loyalty but also redefines the relationship between retailers, brands, and their customers.

Organizations that leverage their customer behavior [data] to generate insights outperform their peers by 85% in sales growth.

– Forbes

New horizons for tech-fueled insights

Fully integrated demand and sales planning, coupled with analytics, are essential for identifying waste and uncovering opportunities that justify adjustments in customer investment levels. Real-time problem-solving and solution creation are pivotal in today’s dynamic market landscape. Leveraging technology enables the identification and joint resolution of issues, such as optimizing in-stock positions and minimizing lost revenue during high-stakes promotions by monitoring shopper response and product flow. Moreover, deploying store-level technology and establishing a feedback loop empowers store-based labor to optimize assortments, displays, and pricing. This two-way feedback loop not only showcases the impact of insights but also allows merchandisers to share performance observations with headquarters and customers, fostering collaboration and informed decision-making.

Data-driven tools can equip sales reps for successful negotiations. Cross-functional applications at the intersection of supply and demand, such as adaptive sales allocation or portfolio optimization, can help companies build resilience during uncertain times.

– Harvard Business Review

Sales Capabilities of the Future

Part 1: Technology Fueled Insights

Sales Capabilities of the Future

Part 2: Talent Must-Haves

Sales Capabilities of the Future

Part 3: Retail Media Joint Wins

Sales Capabilities of the Future

Part 4: Strategic Partnerships

Watch a replay of our Sales Capabilities of the Future webinar: Click here

Read the full Sales Capabilities of the Future report: Click here.

Other featured segments of our Sales Capabilities of the Future report include Talent Requirements, Collaborative Successes In Retail Media, and the development of Strategic Partnerships.

Thank you to our participating partners:


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