Revving up Retail Execution: Setting up the Metrics for Smart Tech Investments

As the challenges of COVID start to recede, a new set of considerations is rising up in their place. From understanding the relationship between digital and online sales, to thriving at the shelf level, to enhancing in-store execution, the pressure is on for CPG teams to navigate ongoing uncertainty while also making the most of new opportunities. Retail execution remains a crucial investment for teams to boost sales. In today's dynamic market conditions, it has become even more business-critical to make sure REX technologies and integrations are optimized effectively — not least in tracking their return on investment. In this fireside chat, Mat Brogie, CEO of Repsly, delves into practical ways to accurately track and assess ROI, while giving examples of how these technologies are enabling businesses to gain greater visibility into their strategies, and pinpoint what’s needed to drive growth. Brogie has spent the last two decades introducing technology-driven business solutions to the consumer goods industry, advising and implementing retail execution solutions for field representatives and teams at companies like Coca-Cola, Procter & Gamble, and Pepperidge Farm. Brogie notes that CPGs have been tasked with navigating a lot of turmoil recently, shifting between in-house full-time teams, outsourced, dedicated, or syndicated teams, or even implementing some hybrid strategies. With so much change afoot, it can be difficult to measure if these investments or strategies are providing a return and decide which strategies are working — and which are not. In terms of metrics, there are two sides to the equation: efficiency gains and sales growth. To illustrate this point further, Brogie shared the example of a Nutribullet — a customer that has experienced explosive growth in recent years and is now optimizing this expansion by combining sales data with reps’ activities to track and measure the impact of particular store visits. On both sides of the coin, Brogie is seeing CPGs and retailers reaping the benefits of greater visibility into what’s happening in the field, which in turn allows teams to identify trends, measure the impact of their efforts, and refine strategies accordingly. On the topic of artificial intelligence, Brogie notes that these technologies have been around for some time, but are truly top of mind at the moment, and only becoming more and more accessible. Homing in on retail execution specifically, Brogie points to teams that are leveraging AI to quickly find high-value on-shelf availability issues, as well as identifying compliance issues in near real-time. As is often the case, the key advantage of AI implementation revolves around time-saving capabilities and its ability to provide field teams with precious additional hours to devote to more valuable tasks, Brogie notes. Offering words of advice for companies looking to build a more intelligent REX infrastructure, Brogie says that by embracing tech and prioritizing data-driven decision-making, CPGs will be able to move beyond the traditional REX coverage model. Ultimately, this will allow companies to capitalize on more profitable opportunities and tackle low-hanging fruit efficiently, boosting their overall retail execution performance and success in the market at large.

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