Data: the key to growth within the retail industry.

Data: the key to growth within the retail industry.
Photo by Austin Distel / Unsplash

The data represents the foundation on which a trade marketing campaign is created. Increasing sales and attracting a larger audience is the goal of every brand.

Through different trade marketing strategies, long-term benefits are sought through actions such as loyalty, in order to continue developing the business and growing in the future. In addition, the constant acquisition of new clients is essential and data is key to achieving both loyalty and successful acquisition.

Obtaining and managing information about our target audience is decisive when defining any of these two stages within our trade marketing strategy, therefore, today we will be telling you about the benefits of obtaining and managing information.

The industry is currently undergoing a profound transformation, thanks to the addition of new technologies that have made it possible to optimize the way companies work, and also improve interaction with the final consumer. In this sense, technologies such as augmented reality, image recognition, among others, also facilitate the action of Big Data or data collection, which contributes to improving logistical aspects and personalization in the service to consumers, which results in a increase in sales.

Marketing workflow strategy
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Benefits provided by obtaining and managing information

Stock control and management: inventory control of the products available in a store is one of the great concerns for those who operate within the retail industry. In this sense, thanks to sales force management tools/platforms, products can be classified into different categories, following parameters such as the profits they report or the volume of sales.

You can manage this information through different tools, such as QuartzSales, where you will obtain a specific section for stock management, breakages, etc.

Customer increase and loyalty: through the information obtained we can carry out different analyzes on the behavior of shoppers, showing the difference between regular and occasional buyers, their preferences, etc. which facilitates the generation of loyalty strategies that we mentioned earlier.

Predict trends: analyzing the purchases that shoppers usually make is key to detecting trends regarding product consumption, knowing the habits of shoppers in relation to seasonality, gender, among others, which allows creating better commercial strategies based on your behavior.

Promote competitiveness: by studying the information obtained, it is possible to analyze the commercial activity by area and products with greater demand, this facilitates special offer strategies and increases the number of sales, in addition to improving the relationship with consumers. by offering them the products they need most.

Study the market and the competition: thanks to information management, brands can study the activities of competitors and implement a strategy that leads them to make a difference, generating a leadership position in their sector.

It is difficult to plan effectively and take actions that have immediate results within the POS, if the information collected is not organized effectively. Although it is true that we need detailed and precise information, this should not be excessive either. It is important for you to remember that if you do not take any action quickly to resolve the situation that arises from the results of the information obtained, there will be no benefit for your company. Reports should always be monitored in real time as the market is very dynamic. The redistribution of the team, a promotional action of the competition that we did not expect; all of these possibilities must be considered by the people who manage the sales force.

One way to manage everything quickly and efficiently is through QuartzSales, which in addition to allowing you to manage information, gives you predictions based on the data obtained and this will help you determine the actions to take with certainty.

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Until next time! ;)