Get Started with Trade Promotion Effectiveness
Learning Objectives
After completing this unit, you’ll be able to:
- Describe post-event analysis.
- Explain the benefits of Trade Promotion Effectiveness (TPE).
- List the licenses to install for TPE.
- Explain how TPE dashboards are set up in Consumer Goods Cloud.
Before You Start
Before you start this module, consider completing the following recommended content.
Analyze Promotions
Consumer goods (CG) manufacturers run promotions to boost brand awareness, product visibility, and sales. Key account managers (KAM) in a CG manufacturing company plan and monitor promotions. Assessing the effectiveness of a promotion helps KAMs make decisions about future promotions. By improving trade promotion tactics, KAMs can increase customer satisfaction and gain a competitive advantage in the marketplace.
KAMs determine a promotion’s effectiveness by performing a post-event analysis. They use key performance indicators (KPIs) to measure the impact of promotions across multiple dimensions, from a manufacturer and a retailer perspective.
KAMs seek answers to various questions when performing a post-event analysis.
- Has the promotion been successful?
- What are the lessons learned?
- How did the account perform as a whole?
- Was the promotion spending optimal?
- Did the promotion impact sales and revenue?
- What is the promotion performance trend for individual stores?
A KAM can also reflect upon certain questions for planning future promotions.
- Which promotions and tactics have been successful for individual products?
- How are competitor products performing in stores where we ran promotions?
- Which brands and products can I promote next?
To answer these questions and improve past promotions, KAMs require the right data and the ability to derive conclusions from the data. Often, their systems and tools make it difficult to capture accurate data, or the data is so complex that it’s near impossible to gain valuable insights. But there’s a solution: Trade Promotion Effectiveness (TPE), powered by CRM Analytics.
Trade Promotion Effectiveness
Promotion data is usually spread across different locations, such as Salesforce, Enterprise Resource Planning systems, and data warehouses. If you see all the data together, it can help you better understand how you can improve your customers’ experience. Through its intuitive point-and-click visual interface, CRM Analytics combines information from different sources and brings powerful data insights to every member of your team. Whether you’re on a desktop browser or a mobile device, you can get the answers you need from your data. For an introduction to CRM Analytics, see CRM Analytics Basics.
Trade Promotion Management in Consumer Goods Cloud enables CG manufacturers to plan, budget, present, and execute promotion programs. CG Cloud Trade Promotion Management helps you oversee the promotions you run for your retailers, from planning to completion, and ensures each promotion achieves its objectives. For more information, see Get Started with Trade Promotion Management.
Trade Promotion Effectiveness is a CRM Analytics solution for CG Cloud Trade Promotion Management. It provides data-driven dashboards to analyze trade promotion data, evaluate promotion effectiveness, and make future business decisions. TPE helps KAMs analyze the performance of past promotions and find out how future promotions can be made more effective.
For example, Gustavo De Luca is a KAM at Alpine Group Nutrition and Beverages, a consumer goods manufacturer. He manages the sales and promotions of Alpine Group products for Northern Trail Outfitters (NTO), a nationwide retail chain in the USA. Due to strong consumer demand, Alpine Group’s sales have skyrocketed. The company has added more products to its portfolio and more stores for its top accounts.
Gustavo has an important presentation coming up. He’ll present an annual report that shows how promotions for the NTO trade account are performing and the scope for improvement.
With CG Cloud TPE, Gustavo can easily review, monitor, and capture trade promotion data for his report.
In this module, follow Gustavo as he sets up and uses TPE dashboards to review promotion performance for Alpine Group products.
Install Licenses
To use the TPE app in a Salesforce org, you must install certain licenses and configure a few things. For example, Gustavo installs the Trade Promotion Management license in the org. Next, he installs the add-on licenses: Revenue Intelligence for CG and CRM Analytics for CG. The Revenue Intelligence for CG Admin permission set is required to create the TPE app, while the Revenue Intelligence for CG User permission set is required to view the app.
To retrieve data from Trade Promotion Management in a CSV dataset file, Gustavo configures the MuleSoft Accelerator for Consumer Goods with TPE APIs. Lastly, he confirms the presence of some required objects in the Salesforce org for data sync. For more information on required datasets and Salesforce objects, see Considerations for Setting Up Trade Promotion Effectiveness.
Set Up TPE
To set up TPE dashboards in CG Cloud, navigate to the TPE Dashboard Configuration page from Setup.
Gustavo navigates to the page and uses the guided flow to:
- Assign permission sets to admins and integration users
- Enable CRM Analytics
- Select promotion and tactic data sets
- Perform other setup tasks
Keeping promotion data up-to-date is important for accurate decision-making. After you set up TPE, schedule a data refresh to see the latest data in the dashboards.
In this unit, you learned about the insights that KAMs can get by using TPE, and how these insights help them plan better promotions. You also learned about setting up TPE dashboards in CG Cloud. In the next unit, explore the advantages of historical data analysis, embedded dashboards, and the considerations for creating other versions of TPE.