Why CPG Sales Teams that develop machine learning have the edge
At visualfabriq we believe that the CPG companies which are early adopters of sales and marketing solutions featuring artificial intelligence and machine learning, are going to be the industry leaders of the near future. Researchers at MIT Sloan Management Review and Harvard Business Review are amongst the many other analysts and thought leaders who agree with us that in order to maintain or boost competitiveness in our changing world, sales teams must develop machine intelligence.
On the one hand, the success of the sales function is all about the human connection; and at the other end of the scale, that’s also not effective nor efficient without high quality business metrics and insights. In the past, for CPG companies, this has been a major challenge to success and profitability – most notably, when it comes to returns on their heavy investment in trade promotions.
For too long, CPG sales professionals have not had real-time, accurate and meaningful insights available as they plan, manage and optimise their trade promotions. Once upon a time, the data was too big for that. But thanks to unlimited, ever-scaling cloud computing; thanks to the latest developments in artificial intelligence and machine learning, the era of CPG companies executing trade promotions in the dark is now over.
Why trust machine intelligence?
Because there is now irrefutable proof that machines can process more data, more quickly and glean from it, far better insights than humans can… That’s why.
Today, the technology is available; and so are best-in-class solutions, such as visualfabriq’s Trade Promotion Master™ which has been recognised by leading global analysts such as POI (Promotion Optimisation Institute), Gartner and Forrester. What CPG sales professionals need to unleash is their excellence in business processes, such as trade promotion management, that have been fundamentally restructured because they use tech solutions that integrate data, AI and workflows.
CPG companies can experience a new and better reality, and build their muscles to be future-fit by committing to develop machine intelligence in their sales teams. Those that have the foresight to do so, will lead the industry because they augmented their sales teams’ capabilities with machine learning and artificial intelligence solutions to deliver greater organisational efficiencies, as well as more profits, at half the costs, in 20% of the time.
CPG companies are currently facing significant forces. Promotional pressure in stagnant developed markets and maturing developing markets results in ever-increasing promotional pressure. The digitization of sales is driving price transparency. Activist investors are pushing workforce and trade funds efficiency agendas.
Imagine what could happen if your sales professionals had better objective insights to make the best decisions every time they plan, manage and optimise their trade promotions? What would change for your company if your sales team worked only with automated, truly reliable forecasts and baselines? What would the outcomes be if your sales team had zero touch promotional planning capability with the very best scenarios?
I can answer that for you – your CPG company would be fit for the future, and positioned at the leading edge of the industry.