Do you know how to plan strategic actions that increase your sales and ensure good product turnover? If the answer is yes, do you think your marketing strategy is aligned to meet your consumers’ expectations?
If you are unsure of the answer to one or both of these questions, you certainly need to know more about market intelligence applied to trade marketing and, therefore, there is a lot to be said for enjoy this reading.
What is market intelligence
Market intelligence, also known as business intelligence or Business intelligence, part of the collection, management and distribution of data to arrive at a vision that allows you to outline an efficient marketing strategy. She is extremely important for anticipating trends, increase the competitiveness of companies, make them more productive e prepare them to adapt to changes and innovations.
But before proceeding, it is worth talking a little about the consumer, who must always be at the center of any marketing strategy that deserves the name. In recent years, he has been constantly changing his habits, tastes and lifestyle. And to accompany you on this journey, you need to know what needs to be changed to continue pleasing those who buy.
This is precisely where the Market intelligence applied to trade marketing strategy: for create and develop good work at points of sale aiming at stimulate the consumption of products positioning them in a way that attracts consumers at points of sale, boost sales e optimize the performance of distribution channels both retail and wholesale.
Now the question that must be asked is: what sources to use to analyze what attracts the consumer or not? There are many, but we will list the main ones here: social networks, email marketing, chatbot, SAC, feedback of your current customers, competitors' strategy, cell phone applications with GPS and others.
As you can see, there is no shortage of ways to investigate how to continue pleasing your target audience and maintain a prominent position against the competition. Just incorporate them into your marketing strategy using market intelligence.
So, let's explore this topic a little more.
Importance of market intelligence in trade marketing
Market intelligence in trade marketing brings a great competitive advantage to your establishment: in addition to gather information about your business in less time target, this information capable of directly impacting sales, allows, for example, define segmented strategies, which are much more effective for your company to communicate better with customers shoppers from different regions, ages and backgrounds.
Always take into consideration: all the information obtained through market intelligence is a treasure that you have in your hands. For this reason, it must be shared with other areas of your company. This way, you will make sure that your entire team is aligned to personalize the service as much as possible and, of course, the other products as well.
So always keep in mind that applying market intelligence to your trade marketing can make all the difference in:
- Your company stands out from the competition;
- Offer a product that fully meets the expectations of your consumers.
The role of market intelligence in trade marketing
From the data collected about your customer's preferences, you can define how much of a given product should be sent to stock in each locationdistribution system, since the same product can be sold more or less in each store. So, you can prevent merchandise from standing still in establishments and, depending on the product, lose its validity.
Market intelligence also allows you to grow and expand your business with greater security, as it helps you to discover where the best opportunities are, for example, to open a branch or POS.
An important warning is in order here: do not think that your accumulated experience with the head office will be sufficient when opening a branch, which will most likely have a different structure. But not only that, the new point of sale needs to be personalized to offer the products most purchased by those who live or work in the region where it was opened. Where once again market intelligence becomes indispensable.
Want to see another way to use market intelligence to your advantage? Nowadays, you know, there's no shortage of options for every type of product you can imagine: powdered soaps, pet foods, pasta, wines, mouthwashes, packaged soups, deodorants... Well, you get the idea. : the list is infinite and differentiated.
Anyone can get lost! And that's where your trade marketing strategy should come in: to understand the journey of shopper, encourage you to buy e make information available at the POS through graphic material or sales promoters that facilitate your choice.
How market intelligence can help in trade marketing
Market intelligence has the potential to generate excellent business opportunities in trade marketing and below you can see how.
Behavioral trainings
Behavioral training is very useful both for trade marketing and for any other area to work with market intelligence. Through them, it is possible better understand who the target in order to improve sales.
They are also responsible for helping teams interpret the data collected, so that they know how to ask the right questions at the right time.
Promotional campaigns
Market intelligence can help assess whether a promotional campaign performed well and achieved the expected results or whether the results could have been even better.
Another of the benefits that market intelligence brings in terms of measurement is the subsidies it offers in evaluation of buyer satisfaction based on your behavior at the point of sale while shopping.
Discover the place or region where a campaign was most successful or which of the product layouts — the traditional or the innovative — caught the most attention and, therefore, generated better sales are also responsibilities of market intelligence.
These are just some of the examples in which the application of marketing intelligence can yield great results in trade marketing.
Incentive campaigns
It is also a function of market intelligence help with decision making without having to spend resources and deadlines that are not always available. As? Making use of information that already exists to stimulate shopper to buy more.
Examples of this in practice are making it easier to find products at the point of sale, displaying items from different categories side by side to increase the sale of less consumed products and reduce the prices of products that are selling less.
Quite advantageous, right? And our reflections are just a small example of how much market intelligence can do to boost your company's business.
If you are interested in learning more about competitive strategies drawn up based on market intelligence to achieve the best results in trade marketing, speak to one of Take5's experts. We are ready to understand your needs so that, together, we can arrive at the ideal strategy for your company.
