SalesBeat Podcast: Recent Episodes
Veena Giridhar Gopal
Welcome to the Salesbeat podcast, where we explore sales intelligence in FMCG and how you can overdeliver against your sales goals. I am Veena Giridhar and I am CEO & co-founder of Salesbeat, an AI driven platform eliminating lost sales in FMCG due to understocking and overstocking.
Following our last blog and podcast, today we speak to the founders of TraceX Technologies, a blockchain start-up in the supply chain space. TraceX Technologies is an AgriTech start-up based out of Bangalore. Tracex’s flagship agri-tech platform FOODSIGN™ leverages the power of Blockchain to digitize the food and agriculture eco system to make the supply chain clean, credible and traceable. The platform connects multiple participants across the supply chain and help them securely exchange verifiable and auditable data leading to mutual trust, accountability and transparency amongst the participating actors. The platform helps showcase sustainable sourcing, consumer trust, impact metrics (economic, social and environmental) and compliance with food safety & sustainability standards.
Srivatsa, one of the founders has 20+ years of experience in technology and is passionate about building technology solutions for social good. He has led many initiatives around software product management, engineering and solution sales in both enterprise software corporations and start-ups in Agriculture, Food and Education.
Similarly, Anil has worked in both IT products and services organizations, delivering client value through delivery and implementation of innovate solutions mainly in the Global banking industry across the world.
Learn more about how TraceX leverages blockchain to provide transparency in supply chains and helps delivery smart, efficient and sustainable solutions in today’s podcast!
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To learn more about TraceX:
Visit their website: https://tracextech.com
Or email :
anil@tracextech.com
srivatsa@tracextech.com
From insurance to copyrights to supply chain management, blockchain technology has become the talk of the town. But, how will this ‘newish’ technology actually affect your company? And how can you get started?
A blockchain is an ever-expanding collection of records, or blocks, that are connected and safeguarded via encryption. The supply chain can benefit from the use of distributed ledger technology to boost confidence and ensure that goods are what they seem to be.
A business or customer may use the chain to track a product all the way back to its origin by simply scanning a QR code or looking up a special identification online.In the FMCG sector, there has been a lot of activity, with businesses establishing trial programmes and some even ramping their initiatives to full production. However, there are still many difficulties and uncertainties to be resolved.
To understand the implications of this technology for the Food & beverage and the FMCG sector, stream our podcast now!
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Numerous positive interactions that foster a sense of trust lead to customer loyalty. Every interaction does not need to be flawless. However, devoted customers/shoppers can help your business in other ways than just using their credit cards.
Your satisfied customers can all increase your sales, whether you consider them brand champions, net promoters, or heroes of word-of-mouth marketing. This could be done by recommending your brands to their friends and relatives, posting about their experiences on social media, or giving positive reviews.
Karim Choueiri, a pioneer in the customer loyalty market, is our guest today, and we discuss how Wecheer combines technology and customers in the most effective manner to create long lasting customer-brand relationships.
Wecheer opens the door to customer-brand connections that are personalised and advantageous for both the business and the public. Instead of pushing advertisements on consumers who aren’t interested, they promote more experiences with added value to retain existing customers and those who are more likely to become customers.
To learn more about Wecheer, stream our podcast now!
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Customer loyalty is the choice of a customer to continue making purchases from a specific company because they believe that company provides the greatest overall product, customer experience, and price in its category. If a customer has a high level of loyalty, they won't be as likely to transfer to a competitor for reasons as straightforward as better advertising or a lower price.
Companies may proactively enhance client loyalty by using personalised marketing automation and predictive analytics.
Businesses should set up a customer loyalty programme that rewards customers for their ongoing purchases. Implementing loyalty programmes can significantly boost customer lifetime value for relatively little money.To learn more, Stream our latest episode of salesbeat podcast now!
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A retail media network essentially refers to a collection of digital channels owned by a retail company, which is offered to FMCG/CPG companies for advertisement purposes. This gives businesses the opportunity to advertise to shoppers who are already in store, on the website or registered with the loyalty program. This ensures that the ad leads directly to sales and leads to a better ROI.
Our guest today, Seamus McHugh is the sales director of Intouch and has been working with the retail sector for a long time now. Intouch harnesses the power of data and connects with shoppers by instantly and intelligently delivering highly engaging and profitable in-store experiences with digital-first data-driven mindset.
We talk about how the inception of this new innovative marketing model has been successful not only in personalising the shopper experience but also in creating new revenue streams for the retailers.To learn more, tune in to our podcast NOW!
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Find Intouch information:
Website: www.intouch.com
Email: seamus@intouch.com
Retail media is a way of marketing products to consumers/shoppers at the point of sale. This concept is not new – think of traditional marketing activities such as product sampling or personalised offers on ecommerce platforms.But today, technology enables on-premise data at retailers to personalise a shopper’s experience in store.
It allows you to customise your message to increase trial, improve ROI and provide a seamless shopper experience. You can go even further by personalising your offers to appeal to different shopper segments and, in the future, to each individual shopper.
These unique selling propositions, not only benefit the retailer and the brand but also the consumer.
Tune in to know more NOW!
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83% of costumers trust peer buying recommendations and consumer reviews over brand advertising.
Consumers have always had the upper hand in supporting—or not supporting—brands with their wallets. The online domain has ushered in an era where bad customer experiences can ruin your brand’s image easily with no coming back. Today’s potential consumers are empowered by social networks, enabling them to become creators and critics as well.In this age of information, consumers no longer settle for what is available in a limited sphere of influence. Shoppers make better purchase decisions when they find relevant reviews from people they know or that have similar tastes.
Vurdere enables brands to leverage this positively. Vurdere is a SAAS engagement platform for online retailers that connects social profiles to ratings and reviews and makes shopping convenient for customers and consumers.It helps transform e-commerce into a community of shoppers engaged with your brand. This platform is a powerful combination of artificial intelligence and customer engagement processing.
To learn more about it stream our podcast with Vurdere's Co-founder and CGO, Daniel Pisano, NOW !
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Find Vudere on
Website: https://www.vurdere.com
Linkedin: https://www.linkedin.com/company/vurdere/
Email for any queries: daniel@vurdere.com
Shoppers want quicker and easier solutions when it comes to buying, inquiring, giving feedback and making complaints. As thorough as anyone may be with the product information on their website and marketing channels, shoppers know they are inclined to paint their merchandise in a flattering light. That’s where customer reviews come in, filling gaps in knowledge about their products online.
Since most shoppers and consumers trust online reviews, positive reviews can be favorable. Even negative reviews, when managed correctly, have the potential to leave a good impression as they show that you are dedicated to resolving issues your customer may have.
Reviews are not only great for increasing conversions, but also for boosting customer loyalty, powering word-of-mouth marketing and increasing search traffic on your channels.We talk about role of customer reviews in the FMCG sector. Innovation in this space is charting a new way by identifying and showing you reviews left by those in your close circle and by those most like you, increasing conversion rates by embedding trust.
To learn more, stream now.
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Today we have a guest on our podcast, Laurent Dunys, a tech entrepreneur from France and CEO of Shoply.tv. He has built several Software As A Service solutions facilitating interactive connections between people and businesses around the world.
Currently, he is building Shoply.tv, a solution connecting consumer brands with shoppers through shoppable video technology.
With Laurent, we explore the boundless potential of liveshopping and livestreaming, how consumers derive value from this and how they perceive this.
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Shoply website : https://www.shoply.tv
Shoply Linkedin: https://www.linkedin.com/company/shoply-livecommerce/
One of the strongest things that has come out of the last 2 years is the adaptability of the retail sector and their ability to pivot and deliver online solutions to bridge the physical gap with their customers. The missing link ie. livestreaming is here – the ability for consumers to purchase products directly from the video.
Livestream shopping (or livestream e-commerce) incorporates live video content, two-way communication, and the ability for viewers to seamlessly buy or save featured products directly from the platform.
With livestreaming, geographical location is no longer a barrier to access, helping to bridge the gap between social, entertainment and commerce through a sensory, real-time experience between the shopper and the seller.
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With inflation at 9.1%, its highest rate in 40 years,soaring energy prices, escalating fuel costs and households facing the tightest money crunch in over 50 years, consumers of all walks of life are, fairly, cutting corners to cut costs. The Office for Budget Responsibility also expects a 2.2% decline in real household disposable income for 2022/23. How have consumers' shopping patterns changed? And what could retailers and brands do about it?
We explore this and more in our last episode of season 2 of salesBeat podcast. Tune in NOW!
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There has been an acceleration in consumer behaviour shift to online shopping and increased need for omni-channel commerce. Major changes in consumer shopping habits – Increase in digital shopping, millennials and high-income earners are in the lead when it comes to shopping online, consumers are switching brands and channels at unprecedented rates – all brought on by the pandemic and recent inflation. The beneficiaries of this shift include big, trusted brands and discounters, which are seeing unprecedented growth during the crisis, and private labels, which have outpaced the branded market. Some 80 percent of customers who started using a private brand during the pandemic indicate they intend to continue using it. Shoppers have cited a number of reasons for switching brands, with availability (in-store and online), and value leading the pack. Behaviours vary by consumer segment. As retailers contemplate the changes in consumer behavior, they will need to adjust their strategies and execution to adapt to the new norms. Further, it will be important for brands to reevaluate and reprioritize their target audience and consumer segments, as the emphasis on each of the next-normal trends will vary based on the target consumer.
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In our latest podcast we try and explore the answers to questions like why we assume every demographic remains the same every year when we analyse promotions for effectiveness? How important it is to know the impact of the promotion implemented to understand what you can expect in the next few weeks and months?
Tune in to know more!
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What does the workplace look like after the pandemic in the fast moving consumer-goods industry? How should companies understand and process the new expectations of corporate employees and field staff, especially now? Over the longer term, as automation and digitisation advance, how can retailers and consumer goods companies take on the employee engagement and re-skilling challenge?
We explore the answers to these questions and discuss the initiatives that many companies (like unilever, nestle) have put in place; initiatives that their high employee retention rate can be attributed to.
Tune in to learn more.
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How can you be sure that your efforts bring the desired results for your brand? If you do not find out what your customers or consumers actually think about your product, store or experience, you will never be able to prevent them from moving to another brand and sharing that discontent with others. Their opinions on the experience they have with your brand or their experience in your store is helpful information that you can use to retain customers and also craft a better product, store offering or experience.
Top performing companies understand the importance of customer feedback in business. But overcoming the reluctance of customers to share feedback is an ongoing struggle. To explore this topic and more we introduce a guest on our podcast, Matthew Selbie, Founder and President of Opiniator. Opiniator is a digital comment card system that captures on-the-spot ratings, comments and feedback from real customers using their own mobile phone – at any time throughout their experience, then tracks the issues until resolution. For more information:
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For more information on Opinator:
Visit website : http://opiniator.com/
Learn more (blog) : http://opiniator.com/category/blog
Or you can find Opiniator on
Youtube: http://www.youtube.com/watch?v=h3KNZQUegog
Twitter: http://twitter.com/opiniator
Facebook: http://www.facebook.com/opiniator
What is better than acquiring new customers for your product? Retaining an existing customer.
While there’s a certain allure and preference for targeting and acquiring new customers, retaining customers who are loyal to you is what will continually result in a greater ROI — plus it puts 5-25X less strain on your resources.
But how do you create a customer retention strategy that keeps your current customers engaged and happy while growing your customer base? We explore this and more in our latest podcast. Tune in now!
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FMCG companies are being confronted with inflationary cost pressures on all sides. The costs of many raw materials and agricultural commodities are on the rise. At the same time, shipping costs have peaked and wage rates keep increasing as well.
Consumers are starting to see these price changes manifest on all shelves, suggesting some FMCG companies have already begun to react to inflationary pressures. Unfortunately, many companies lack a comprehensive pricing plan and tend to transfer the rising cost of raw materials via broad-brush price increases, a strategy which dilutes the efficacy of new prices. In contrast, by using a targeted pricing strategy during inflation, organisations can leverage the current environment to clean up mistakes of the past, establish measures to control inflation, and drive growth over time. We explore more in our latest podcast.
Tune in.
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Route-to-market is one the main strategies that determines which distribution channels a brand should use to deliver a product to your target customers. It’s a strategy that companies use when they want to achieve a specific business objective or when you need to manage your logistics cost or accelerate growth in a given market. To achieve the perfect strategy, the main philosophy should be to allocate the right channels, to the right customers, for the right reasons.
However, today, it is more relevant to think of ‘Route to consumer’ as you may not always sell through retailers, wholesalers, or distributors. Stream to know more!!
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It’s easy to get comfortable when times are normal. Supply chains chug along without any major constraints and companies’ profit margins remain healthy as long as they have healthy management practices and hiring and retaining talent is easy. But when inflation creeps back up again, those margins start to narrow. Companies may find themselves scrambling to manage rising costs and increase productivity without an efficient strategy in place.
This is the predicament faced by many FMCG companies today.In addition to this, they are facing talent shortages, low employee motivation and unprecedented supply chain issues driven by geopolitical events.In this podcast we talk about the processes and strategies companies need to start working on to overcome these difficult times .
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At first, marketing might seem expensive — TV ads, billboards, celebrity endorsements - especially considering the return on investment in the next few months. But, even in the inflationary times we live in today, there are ways to not just do this on a budget but also in ways that make it easier for the consumer to choose to spend their limited disposable income on your brand vs others. A great place to start is to look at the archives on what worked for FMCG companies during inflationary periods in the past and re-invent them for current times. Or look toward campaigns or partnerships that FMCG brands have with companies in different sectors. They may not strictly look like marketing, but increase awareness and brand loyalty.
In this episode, we give a few examples like PepsiCo’s partnership with Ion to provide sustainable heating for homes, the campaign Walkers & Doritos did with Easyjet on travel after the pandemic and more.
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In the race towards brand growth and relevance, leading FMCG businesses rely heavily on innovation. Establishing an amazing business is merely the first step. Attracting customers requires sales talent. While many small businesses believe sales is similar to marketing, it’s actually much broader. Sales spans the entire process of delivering a product or service to a customer: from choosing which products to sell and where to sell them, to how to price and promote them.
Businesses constantly need to evolve with consumer behaviour and expectations. They need to make sure that their product remains distinctive, relevant and capable of enduring constantly changing consumer needs.
In this podcast, you will learn that with great innovation comes great customer acquisition initiatives.
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The fast-moving consumer goods industry is a complex trading environment, with many companies experimenting with various ways to cut major manufacturing costs, especially in today’s economic climate. Packaging has so far been crucial for brand differentiation and identity. So it’s no wonder that the global spending on packaging now exceeds US$500 billion.But as the world battles inflation and climate change, FMCG companies need to consider whether this is the right time to pivot to more eco friendly packaging or even packaging free solutions.Organisations and brands that can reduce the price increases that are passed on to consumers currently, while also embracing sustainability are more likely to come out of this period stronger than they were, when they went in.
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We are living through a time when inflation is putting pressure on people’s ability to spend. Combine this with supply chain constraints and inflation is expected to increase yet more before it eases. FMCG companies and retailers are facing the challenges of increased consumer privacy regulations, changing consumer behaviour, increased customer acquisition costs and an increase in the cost of advertising, in addition to inflationary pressures on production costs. So where should sales and marketing teams focus?
Acquiring new customers costs 5 to 10 times more than encouraging existing customers to buy more. When the business focusses on customer retention, customers spend 67% more on average than those new to your business. Our next few podcasts explore what sales strategies FMCG companies and sales teams can implement to increase sales and retain customers.
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Why is sales intelligence important in the FMCG sector? And more importantly why will this make a difference when the customer already uses a demand planning or demand sensing software to predict what and how much they need to stock? Companies in other sectors use sales intelligence software to improve the quality and quantity of sales leads by using data to find new opportunities and provide salespeople with the information they need to take advantage of them. This type of software is used by marketing and sales executives to define and implement sales strategies based on their data combined with external data in their CRM software such as lists of prospects, databases of contacts, etc. However, companies in the FMCG sector still work on the assumption that the customer knows best when it comes to optimal order volumes. We explore why sales intelligence in FMCG is as critical as demand planning/sensing in retail in our latest podcast.
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Location based sales intelligence allows companies to target consumers at a granular, more personalized level with specific stores as targets based on their physical location. Using location data, sales and retail teams can ensure optimal stocks of SKUs at each store based on selected qualifiers like: demographics around the store, events happening in the area, and more. We explore more of its merits at a deeper level in this podcast. Tune in to listen.
Sales intelligence is the term given to the range of tech solutions that analyze sales prospects, deal sizes, CRM activity, orders and other data to provide predictive insights to salespeople in the B2B space. It helps sales teams discover and close deals with potential customers. But how is sales intelligence different from sales analytics, marketing intelligence & EPOS data in FMCG? And how does it boost the FMCG sales process by identifying new opportunities and areas to improve? We explore that and more in today's podcast. Tune in to listen.
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Effective demand planning delivers both profit and customer satisfaction by helping businesses achieve the right balance between sufficient stock levels for each SKU and customer demand for specific locations. Alternatively, poor planning can result in avoidable supply chain disruptions and leave a company short on products, which can result in backorders, stockouts or costly scrambles for raw materials. So what role does sales intelligence play in all this and how is it vital for every supply chain management nowadays? We explore this and more in today's podcast. Tune in to listen.
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In today's podcast we explore how demand sensing works and how it can benefit in improving your sales forecast without having to wait for your distributor.
For more information, write to us at veena@salesbeat.co
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Traditionally to forecast sales, we used only the past projections to predict the future demand.In, today's world its more relevant for tech to make demand forecasting a science. We explore both sides of this predictive analysis in this podcast. Let us know your thoughts.
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Traditionally, companies in the FMCG industry used historical data as a predictor of the future. While that worked in the past, when availability of data was a constraint, companies should now leverage the vast data that is available to efficiently forecast demand, preventing lost sales. Lets learn how sales intelligence delivers massive benefits to your organization.
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