According to a Promotion Optimization Institute (POI) study, only 19% of consumer packaged goods (CPG) companies are satisfied with their retail execution, suggesting that their field force teams may not as effective as they could be. But with the right visibility into retail conditions, the right tools and timely data to plug gaps and spot opportunities, field teams can be used more as a “competitive weapon” and less as a “cost of doing business”.
Enter crowdsourcing – an innovative new approach that uses available (and plentiful) resources to quickly and efficiently address some of these issues. The “crowd”, typically people located near to the place retail actions are to be executed, are proven to carry out tasks more quickly and efficiently than by expensive dedicated resources who often have to travel farther.
Within the retail environment, crowdsourcing can help collect data and spot opportunities faster, interpret the data for action at the store level, and provide timely insight for managers to coach, spot trends and allocate resources accordingly.
Read this report to learn:
- Challenges faced by CPG sales teams and issues leading to unsatisfactory retail execution
- What crowdsourcing is and how it augments and optimizes the traditional field force model
- How to “do it right” – metrics, routines, change management and other must-dos
- How crowdsourcing helped a beverage brand capture a $13.9MM opportunity