Trade and Promotion Management (TPM) is a software program that helps companies manage their trade promotions. A TPM solution helps companies plan, implement, and measure their trade promotion activities. Its functionality is vast and can help any company make better use of its marketing dollars. Regardless of the company’s size, it can be useful to consider TPM as an essential component of your company’s marketing strategy. However, there are several things to consider before implementing a TPM solution.
Using sophisticated data science tools can help marketers track and forecast promotions in real time. This data can help account managers determine which promotions are most effective for their customers. This data can transform account planning processes. Trade and Promotion Management systems need to be designed with user-friendliness and ease of use in mind. A good TPM system will also help visualize data and create visual stories. Use business intelligence tools to make data easier to understand. Adapting to a changing retail landscape requires incorporating design thinking and data science.
The benefits of TPM include increased demand, profitability, customer loyalty, and cash flow. An optimal TPM solution should offer standardized processes and continuous service. Using a TPM solution should be a total solution that covers the entire process from the planning stage to execution. It should also ensure proper approvals and reporting. To get the most out of a TPM solution, you need to consider what kind of TPM solution you need for your company.
Trade and Promotion Management involves following the entire promotional cycle with beverage retailers. The ultimate goal of TPM is to increase brand awareness, market share, and revenue. The process starts with planning, moves through programs, and ends with post-promotion analysis. The effectiveness of Trade Promotion Management depends on tracking and analyzing the results. TPM is crucial in measuring ROI and implementing strategies that comply with government and industry regulations. It saves many hours of work and allows you to focus on the most important parts of your business.
TPM software is useful for many foodservice and retail manufacturers of CPG products. These solutions automate the trade promotion process, including planning and approval, and gaining insight into the effectiveness of trade promotion activities. TPM also provides real-time data for better business decisions. By centralizing the process, organizations can ensure that trade spend is used wisely and efficiently. Further, centralization of TPM software allows organizations to monitor contracts and track success.
Effective Trade and Promotion Management can prevent bill-backs, which are trade promotions and customer chargebacks that are not related to the original invoice. Manufacturers face the most complications with bill-backs, which complicate reconciliation to trade deals. A clear explanation of the terms of trade deals is essential for successful TPM, as it prevents misinterpretation and duplicate deductions. So, a TPM system must link the trade promotion with the customer chargeback.