Managing trade spend effectively is a vital factor for survival of any emerging CPG brand. In fact, most emerging brands die at the shelf because they didn't know how to do this very well. And how could you blame them? Just getting a basic understanding of what your trade spend even IS is in itself a very arduous task, to say the least:
- Manually downloading actual sales data from separate retailer portals for each customer...
- Subscribing to separate services to get the data, 30 days old, at an additional cost...
- Compiling that data into trade promotion management systems or spreadsheets...
- Then making sense of it all and trying to extract insights that help you make better decisions going forward.
All of this requires significant effort, resources and time - much more than most growing brands have to spend. And really, how can you understand if any actual lift occurred from promotions when there's a month’s delay in the data?
We're here to tell you that as of now, all those issues are history. Promomash has entered into an exclusive partnership with Crisp, the open data collaboration platform for consumer packaged goods (CPG) brands, distributors and retailers, to provide a new, integrated solution that will revolutionize how CPG brands understand their retail trade spend. Crisp connects and normalizes sales and shipment data from disparate sources to provide real-time insights and trends for brands.
So What Does This Mean for You?
For the first time, emerging CPG brand management teams will have access to their "plan vs. actual" trade spend performance – including sales lift and profitability – all within the Promomash trade promotion management platform. This means that now you can now automatically receive a daily feed of sales, shipment, and other customer data directly into your Promomash portal and embedded into Promomash reporting. Plan your promotions, see how they actually did, and tweak your next promotion plans - all in one place.
Want to see what this integration really looks like? Watch a recorded demo.
The integration of Crisp’s data feed into the Promomash UI and reporting brings together actual trade spend and promotional insights into a comprehensive, real-time view, with minimal effort and without the need for manual data transfers. This empowers CPG brands with the insights needed to efficiently optimize limited trade spend dollars, make more strategic business decisions, and monitor and adjust against planned spend when needed.
The ability to access actual product sales, shipment and trade spend data within a single platform is already improving visibility and the efficiency of promotional planning for emerging brands. Several CPG brands are currently using the new solution, including Brad's Raw Foods, a plant-based snack brand that is scaling for rapid growth at retail locations across the U.S.
“Here at Brad’s, it’s important to not only measure the success of our promotions, but to learn from them in order to inform our promotional planning going forward. This is where Promomash and Crisp are even more powerful together,” explained Nicholas Prastos, Director of Sales & Operations at Brad’s Raw Foods. “I’ve attempted to build many individual customer dashboards to try to achieve this – but to have all the data in one place, waiting for me is a game-changer to better, faster decision-making. It’s a seamless connection that allows us to determine what is a profitable promotion and what isn't, all with the click of a button.”
“Our innovative solution with Crisp disrupts how trade spend planning and analysis is done,” said Yuval Selik, CEO and co-founder of Promomash. "Over 72% of promotions are not effective in the U.S. and over 80% of brands will fail while promoting at the shelf. With Crisp’s actual sales data available and refreshed daily into Promomash, CPG brands can understand, estimate, and verify their trade spend performance, allowing them to make wiser and more informed promotion strategies with daily actuals visible all in one platform.”
“Promotions are one of the most expensive investments that emerging brands can make. This partnership with Promomash brings unprecedented visibility into trade spend performance for emerging CPG brands,” said Are Traasdahl, CEO and Founder, Crisp. “These brands can now access the data they need to understand their trade spend more effectively and efficiently, enabling them to make continuous improvements and stay competitive.”
Learn More and Get Started
The Crisp data integration is now included in Promomash 360 plans (which include Field Marketing Management, Deduction Management and Trade Promotion). For Field Marketing Management plans, an option to add-on Crisp data is available for as little as $500 a month. To learn more about the integration and subscription options visit the Crisp partnership page to book a meeting.