● Investment cost imparting buying data
● Investment cost related to human capital
● Limited internal expertise of category management
● Sales Team not accustomed to smart selling
I. We started our process by reviewing the current data the client had already purchased and maintained. Of significance, the client was already purchasing 70% of their total POS data.
II. We then suggested a data package that would NOT increase their current data spend.
III. We downloaded all their data onto our server. We analyzed the data and started to understand the business and how to positively impact its numbers.
IV. In order for the Teams to become knowledgeable and accountable for their performances, we matched the client with our AnalyticSmart Reports.
V. The Client then purchased our Smart Category Manager Service. We developed Winning Sales Account Presentations and assisted the Key Account Managers in Retailer meetings as their personal Category Manager dedicated to their business.
VI. Now that the foundation of Analytics was in place, we revamped their current pricing strategy, reviewed planograms and ensured that promotions had a proper ROI.
VII. The Management Team was frequently updated on all business performances by having Quarterly Business Reviews.
● Annual savings of over $85,000 in human capital
● Savings of $120,000 as they did NOT purchase any additional data
● 13% increase in forecasting accuracy in 6 months, which led to approximately $71,000 in additional savings
● Client gained distribution by presenting ANALYTICSMART planograms. The resulting two new SKU listings at a major retailer produced incremental sales of $445,000 per year