4 INSIGHTS EVERY KEY ACCOUNT MANAGER NEEDS TO KNOW ABOUT THEIR BRAND PERFORMANCE
Building and maintaining a strong relationship with clients is difficult. Anticipating clients’ needs, ensuring deadlines for the clients are met, and helping the clients succeed can be easier thanks to data.
Supporting client's strategies, sharing quantified insights to help clients succeed gives a tangible and practical boost to the relationship. This approach, data and analysis are any Key Account Manager’s best friend.
1.Volume & Value Growth – Calculating the total amount of sales volume and value growth in a specific market over a specific period of time such as a month, or year, will give the overall market potential, and better understanding of the Brand’s sales trend.
2. Market Share & Value Share - Knowing one’s market share and see how the Brand Performs against the competition is naturally useful for the Key Account Manager.
But market share metrics are also useful for several other dimensions such as:
1. Reinforcing the importance and progress made by the Brand when building strategies with clients.
2. Analyzing internally the level of activities, Range effects and other initiatives the Brand should do to win.
3.Basket Value Evolution – Baskets, their contents, their value, and the evolution of both, reflect how shoppers are behaving and reacting. Basket is the key metric to correlate sales and market share performances with shopping behavior.
It is also a strategic metric to use when building action plans with the retailers to decide whether business priorities should focus on penetration (traffic) or value (spending)
4.Promotion Sales & Benchmark to Category – Tracking a brand’s promotions would help avoid wasting money, time and effort, and help the company make better business decisions. This will also help determine which promotion products are most responsive to customers. Analyzing this would help determine what promotions should be repeated to produce greater profits and potentially change marketing tactics (stopping/continuing certain products). Then, look at how well the promotions are doing compared to competitors in the same category to better understand the promotion’s effectiveness.
By adopting a Retail Data Collaboration, you can get accurate and complete picture of your brand’s performance effectiveness across channels. These quantified insights can then help you identify opportunities, optimize your Brand, efficiency as well as building consistent action plans & strategize with your Clients.
At HPT Ariane, we build and continually improve our Data Collaboration Platform so Brands can win online and in-store with their clients.
Visit us at https://hptariane.com