Key Ingredients for TPM Digital Transformation Journey
In a post-pandemic world, re-shaped by many changes such as shifting shopper dynamics, inflationary pressures, rising costs and the need for an effective omnichannel approach have resulted in an increased focus on agility and customer-centricity. The need for adaptable promotional strategies, the importance of data analysis to inform them and ensuring governance along the way isn’t without challenges. Naturally, these pressures expose any issues in trade promotion management processes and the need for robust systems to inform holistic decisions that drive efficiencies and effectiveness across the CPG business.
Learning from others who have completed this journey already, and how they overcame any hurdles and ensured success in a way that fits the business is why XTEL has compiled a guide to Trade Promotion Management across multi-markets. It shares insights and advice directly from FMCG leaders on what they learned during the transformation journey.
Trade Promotion Management across Multiple Markets
Given the impact of the many dramatic changes impacting the industry, it’s no surprise that FMCGs are renewing their focus on ways to create sustainable value and profitable growth. For any FMCG company, achieving it takes more than enhanced data, analytics and technology.
Indeed, it needs to be a culturally-led journey that aims to empower teams, streamline processes and foster collaboration to support best practices at scale across all areas of the business, including multiple markets.
The XTEL proven approach to TPM across multi-markets follows three steps, Redesign, Unify and Embrace to ensure success.
It’s important to ask the right questions during the “Redesign” phase to ensure there is clarity on exactly what the post-implementation vision is, and to ensure that the solution delivered is the right fit for this vision.
Asking: “How can we ensure digital transformation will indeed enable success for the company? And how will this success be measured?” Then there is the “Unify” phase to balance global and local needs. Finally, the “Embrace” phase enables best practices across markets with one system.
This practical guide on TPM across multiple markets aims to share some of the secrets to success, with insights and advice taken from the webinar series ‘Digital Transformation for Commercial Excellence and Growth’ with FMCG leaders.
Browse through this practical guide that includes five customer case examples, quotes and advice from senior FMCG leaders, and explains the three critical steps.
1. Redesign
Driving stakeholders' ownership and buy-in
Involving and listening to key stakeholders and future users of the TPM system and ensuring their buy-in from the start, is key to drive engagement and user adoption, whether that’s at a market level or clustering markets to gather requirements.
2. Unify
Balancing the business' global and local needs
The optimal way to balance global and local needs is to take a fact-based assessment approach to navigate any complexities in requirements, and look for ways to improve efficiencies and establish a clear implementation roadmap.
3. Embrace
Enabling best practices across markets with one system
When designing your trade promotion management system, it should be designed with the objectives of unlocking value – efficiencies, powering accurate decision making and unlocking profitable growth. Leaving no stone unturned.
Kraft Heinz Success Story: Aligning Goals and Data Processes into a Cohesive TPM system
By implementing the XTEL TPx solution, Kraft Heinz has been able to unify teams under a single system, helping them save time, focus on performance drivers, and make better decisions.
Related articles
The pizza-based approach to multi-market TPM deployment
by Ed Bishop
A tested recipe for multinational CPGs to deliver successful and scalable trade promotion management transformation programs.
Clearing the challenges of multi-market TPM
by Alan Shankland
A digital transformation journey is also a change management journey, where specific challenges need to be overcome.
Beiersdorf scaled standard ways of working across multiple markets and digitalised the Trade Promotion process
With our Trade Promotion solutions Beiersdorf drove global digital transformation
Client Testimonials from FMCG leaders
Trade Promotion Best Practices Series
The key steps in a proven approach to digital transformation: a step-by-step guide to lasting growth in the Trade Promotion Management and optimisation space
Schedule a TPM demonstration
Get in touch to learn more about our Trade Promotion Management solutions.