As consumers’ buying habits change, consumer packaged goods companies need to take the appropriate in-store actions. Analytics can have a major impact on making better and faster in-store decisions, but companies also have to adapt their cultures to function in a data-driven world.
Read the transcript below.
GIOVANNI ARNESE: So how is data and digital transforming sales today?
PAOLO MISURALE: Whatever you do in store is geared to capturing the attention of the consumer in those few seconds that they have. People are starting to become less loyal to brands, because they are bombarded every day by multiple advertising campaigns by millions of brands. They are progressively becoming more kind of a repertoire, which means that actually, they don't have a specific brand in their mind and, obviously, for a consumer good company, it becomes critical to capture the attention when they hit the shelf.
GIOVANNI ARNESE: In fact, as you know, more than two-thirds of the decisions are actually made in store when the shopper is in front of the shelf. And today, what we see is that companies who are able to embed data into their sales process can deliver 5% of growth per year. Using data allows you also to break the silos that typically you find within your organization between marketing and sales. But to really achieve that, you need to drive change of behaviors.
PAOLO MISURALE: Yeah, I cannot agree more. You know, a lot of companies, even if they have very good clarity in terms of what needs to get done to unlock potential on the front line and on the shelf, they heavily underestimate the time required to drive cultural change in the front line and the change of behavior that is required in terms of shifting from a sell-in type of approach to a sell-out and consumer-centric type of view.
GIOVANNI ARNESE: Big data and digital are not changing the decisions that the sales organization is taking, but actually are providing much more solutions to make better decisions and faster decisions.
How Advanced Analytics Is Transforming Sales Execution
Perfect Sales Execution enables consumer packaged goods companies to increase market share and profits by carefully targeting the right stores and the right products.