5 Opportunities for Revenue Growth
Changing customer and consumer behavior is accelerating the migration to digital commerce – the omnichannel buying experience is the new battlefield for Consumer-Packaged Goods (CPG) companies. To win, CPG companies must focus on these 5 opportunities:
- Optimizing the Omnichannel Experience: COVID-19 has highlighted the need for companies to improve B2B, eCommerce, and direct-to-consumer buying experiences that deliver AI-based insights, personalized and real-time prices, and product recommendations at scale.
- Rethinking Revenue Growth Management: CPG companies are now in a position to rethink typical revenue growth management (pricing, promotions, assortment, portfolio, trade) and focus on creating optimal experiences for all customers.
- Improving Margins: While net sales growth has varied depending on business segments, margins have been affected by higher cost of raw materials and other input costs. CPG companies must think through strategic initiatives to facilitate margin growth at a granular level, including arming sales teams with the right data, processes, and pricing information to support data-driven decisions.
- Transforming Sales: Sales organizations must be restructured and enabled to sell effectively through all channels. They must do everything they did pre-COVID, but faster, smarter, more personalized, and with more consistency.
- Improving Efficiency and Processes: CPG companies must replace legacy processes and systems with new, innovative, scalable solutions, ultimately saving them time and money. Companies that don’t do so will get left behind.
Unfortunately, due to lack of understanding, expertise, and capabilities, many companies are missing the mark on these opportunities and are already far behind.
The Right Solution for CPG Companies
The right solution for CPG companies is made up of three key elements: connected workflows, high-performance, and experienced A.I. CPG companies need a single set of connected workflows for all commerce interactions that affect the customer buying experience, a high-performance platform that delivers speed at scale and can handle the complexity of business, and experienced AI to deliver personalization and consistency. PROS provides a connected, AI-powered commerce platform for CPG companies to build lasting value-based relationships with customers, enabling them to make better decisions with the right data, deliver instant, personalized prices they have confidence in, and provide a frictionless buying experience both online and offline. Our platform provides best-in-class analytics, revenue management, and digital selling solutions that seamlessly integrate with any existing system.
PROS Enables CPG Companies to…
- Power eCommerce Pricing
- Deliver Consistent Buying Experiences
- Increase Sales Volume
- Automatically Recalculate and Manage Margins
- Provide Personalized, Dynamic Pricing to all Customers
- Optimize Discounts and Promotions
- Discover Drivers of Margin Change
- Deliver Instant Quotes & Proposals
- Execute & Measure Pricing Strategy