lalitgbhise | Bizom https://bizom.com Leaders in Sales Force Automation Wed, 24 Jan 2024 09:43:51 +0000 en-GB hourly 1 https://bizom.com/wp-content/uploads/2024/02/Final-Favicon.png lalitgbhise | Bizom https://bizom.com 32 32 179600903 5 Solutions Every Mid-Market CPG Brand Needs Right Away https://bizom.com/5-solutions-every-mid-market-cpg-brand-needs-right-away/ https://bizom.com/5-solutions-every-mid-market-cpg-brand-needs-right-away/#respond Mon, 11 Jan 2021 02:33:56 +0000 https://blog.bizom.in/?p=3366

5 Solutions Every Mid-Market CPG Brand Needs Right Away

by Lalit Bhise

January 11, 2021 | 02 min read

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5 Solutions Every Mid-Market CPG Brand Needs Right Away

As a mid-market CPG brand in emerging markets doing ~$100 million to ~$1 billion in sales every year, you are in a fix. You have to fight two battles simultaneously – one on insurgent brands and the other on global brands, both of whom want to eat into your share of the shelf.

To scale up, you have already leveraged digital and feel good about it. However, to accelerate your growth and double your revenues YoY as Bizom brands do, you need a larger digital transformation vision.

Here are five solutions to leverage market opportunities and become a multi-billion dollar brand.

Solution 1: Adopting an Integrated SFA and DMS

As a mid-market CPG brand in emerging markets doing ~$100 million to ~$1 billion in sales every year, you are in a fix. You have to fight two battles simultaneously – one on insurgent brands and the other on global brands, both of whom want to eat into your share of the shelf.

To scale up, you have already leveraged digital and feel good about it. However, to accelerate your growth and double your revenues YoY as Bizom brands do, you need a larger digital transformation vision.

Here are five solutions to leverage market opportunities and become a multi-billion dollar brand.

#1: Adopting an Integrated SFA and DMS

It’s easier to drive growth by digitising the salesforce. It’s harder to digitise multi-brand distributors and achieve your target fill rate and availability.

What you need is a 360-degree solution across multiple channels that can integrate with your ERP platform. The solution should offer flexibility and mobility for every kind of customer. For instance, small distributors might better adopt a DMS mobile version, perceiving it requires smaller investments or fewer resources.

Distributors use different accounting and ERP platforms like Tally, HEERA, Exactlly etc. Your DMS solution should also integrate easily with such platforms as Bizom Connect. Such integrations are vital to access real-time data on availability and fill rate to track lost sales. Jyothy Laboratories could scale its sales even during the pandemic due to such an integrated approach. It was the same with Emami.

Solution 2: Activate DIY Business Intelligence for Outcomes

Mid-market brands should democratise data and business insights for their entire organisation. Share the insights with your middle management, sales executives, distributors, and retailers. What you need is a Business Intelligence solution that allows your users to manipulate the data, customise the processes and integrate them with your digital initiatives.

Bizom Oneview is the only BI platform explicitly built for CPG brands to provide actionable insights to middle management and the last mile. No wonder Hershey’s India is the fastest-growing market for Hershey’s worldwide. Here’s how they leveraged Bizom Oneview for growth.

Solution 3: Customise Your Trade Promotion Campaigns

As a fast-growing brand, you need to channel your schemes, discounts, and overall trade promotion spending correctly. You should be able to micro-segment your retail channels and customise an effective trade promotion campaign that will ensure your consumers will purchase your products the most. Bizom’s TMP solution allows you to do just that and more. Here’s a testimonial from one of our brands on how they reduced effective trade spending while doubling business.

Solution 4: Deploy Auto Replenishment Across Channels

Mid-market brands must deploy auto-replenishment systems (ARS) to leverage real-time insights on availability to improve fill rates and avoid lost sales. An ARS syncs your primary and secondary sales through past data and predictive analytics. It enables your brand to capitalise on every market opportunity and stay ahead of the competition as Bizom brands do.

Solution 5: Connect Directly With Your Retailers

Direct retail connect is a relatively newer concept, but during the COVID-19 crisis, it saw a massive uptake and drove our brand’s growth exponentially. Bizom Retailer App not only digitises your last mile mom-and-pop shopkeeper but also allows you to channel your trade spends digitally through loyalty programs and digital payments. No wonder Bizom brands have been able to replace inventory with data.

Bonus: Expand Your Market Through Consumer Insights

You can do more after leveraging the above solutions and hitting the ball out of the park. Deploy Bizom Eagle Eye, a game-changing solution which combines retail insights with public data on population (pop strata), affluence, and vicinity. It will provide your sales teams and distributors with business intelligence on what to sell, where to sell, and how much to sell.

I have been privileged to witness more than 500 brands grow exponentially leveraging Bizom’s technology stack. I look forward to seeing you #UpgradetoBizom.

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Wanna build a B2B eCommerce marketplace? But can you deliver? https://bizom.com/wanna-build-a-b2b-ecommerce-marketplace-but-can-you-deliver/ https://bizom.com/wanna-build-a-b2b-ecommerce-marketplace-but-can-you-deliver/#respond Mon, 16 Nov 2020 06:04:11 +0000 https://blog.bizom.in/?p=3258

Wanna build a B2B eCommerce marketplace? But can you deliver?

by Lalit Bhise

Wanna build a B2B eCommerce marketplace

Building a B2B e-commerce marketplace is in fashion today. Everyone, from Reliance to a small town distributor, wants to build their own. The Bizom team identified this opportunity back in 2016 and even launched our own B2B eCommerce product called Distiman in Mysore and Kolhapur to experience how it works first-hand. With that experience, when I hear a new idea of a B2B eCommerce marketplace, my only question is “Can you deliver in 24 hours?”

Standard FMCG fill rates in general trade channels in emerging markets are dismal at 65%. Retailers are used to this kind of pathetic service for all the brands. But when we empower them with technology, the fill rate is 100% – similar to Amazon and other eCommerce websites. 

When we ran Distiman operations, we achieved more than a 95% fill rate with 24-hour delivery, and here are three things we learned while doing it.

Technology should be simple, integrated, and transparent

When we talk about technology, people get very creative and excited. Especially non-tech guys. I have heard a million strange ideas in this space, including how to use voice recognition, OCR, eye retina-based authentication, and other fictional stories. 

If you want to enter this business, my humble suggestion is for you to keep your tech simple, something a 6-year-old can use. Don’t get adventurous with AI, ML and other emerging technologies. The new-fangled tech will make your tech stack complicated. Most users know how to use WhatsApp and Amazon. Ensure your UI is comparable to the much-used apps. Distiman ensured the retailer app is a three-click UI and succeeded immensely. 

Other essential things are integrated tech (more about that in the next point) and a transparent UX that gives the user all inputs wrt pricing, availability, and delivery status.

It’s not only the retailer app – digitally transform the whole stack

Other popular misconceptions are that B2B eCommerce is about the app for retailers and that the backend runs entirely on Excel sheets. The retailer app is just the tip of the iceberg.

You cannot deliver value to retailers if your whole supply chain and distribution stack are not digital. You can’t just build a retailer app and expect to be in business. It would be best if you had a full-stack solution like Bizom.

Demand forecasting – auto-replenishment, etc. is a must

While it’s better to rely less on AI for retailer apps, there are many cool things that you can do for your distribution with AI. Most significantly, you can ensure a near 100% fill rate with a 24-hour turnaround time. Auto replenishment will ensure a 24-hour turnaround time, smart routes will make your feet-on-street teams more effective and suggested orders will help everyone to maintain a 100% fill rate starting with consumers to super stockists.

Bonus: Digital transformation is not for the weak-hearted. If it’s not strategic for you, don’t do it.

In summary, Bizom’s tech stack can help you build an end-to-end B2B eCommerce platform, whether it is led by inventory, the marketplace, or a mix of the two. While technology will do its work, you will have to work harder on operational excellence. It means working with large operations teams, channels, and brands and managing their expectations. 

Expect to meet a great deal of resistance despite the opportunities that digital transformation offers. The winner, in my opinion, is the one who can keep noise out and build a seamless operational organization with the right team and partners. So if you want to be in this space, do it only if it’s strategic for your long-term roadmap and if you have the patience to build this business over the next 5-10 years.

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How to Shorten Your Digital Roadmap from 3 Years to 3 Months https://bizom.com/how-to-shorten-your-digital-roadmap-from-3-years-to-3-months/ https://bizom.com/how-to-shorten-your-digital-roadmap-from-3-years-to-3-months/#respond Mon, 19 Oct 2020 01:21:05 +0000 https://blog.bizom.in/?p=3187

How to Shorten Your Digital Roadmap from 3 Years to 3 Months

by Lalit Bhise

How to Shorten Your Digital Roadmap from 3 Years to 3 Months

The new normal has forced CIOs and digital transformation experts to condense 3-year digital roadmaps to 3 months. If you are in CPG here are three golden rules to keep it simple and give businesses the real business ROI of digital you have been looking forward to especially in this pandemic year.

Rule 1: Solve the business problem

A lot of times, we start with a big agenda like digital transformation. Keeping it simple means solving the biggest business problem first. It could be adding more outlets and increasing reach, or it could be placing focus SKUs in more outlets, or it could be getting more share of the shelf. Tools like outcome mindmap help you precisely to identify which tech tools you need to solve the exact business problem. 99% of the time business outcomes are driven by simple automation and reporting tools. Most business problems do not need robots as a solution.

Rule 2: Adoption, adoption adoption

When we meet companies who have been on a digital transformation journey for decades, they inevitably tell us how only 30% of their workforce or distribution ecosystem is digital after all these years. It typically is due to two reasons:

1. They are using obsolete, bulky, difficult-to-use technologies
2. They invested far more in tech rather than in adoption.

Apart from using simple, mobile-first tech like Bizom, you could do very well to invest in things like gamification to drive adoption and usage among the ecosystem.

Rule 3: Focus on data hygiene for data-driven transformation.

One of our power users Rajiv Sawhney captured it beautifully when he talked about how data changes conversations in the organizations. But to be able to do that, please work on the hygiene of the data. Incentivize your nodes like distributors, sales teams, and retailers to capture the right data with geotags, addresses, etc. When we talk to large CPG companies complaining about the lack of ROI in digital transformation, it almost always boils down to the hygiene of the data. Hygiene of the data is proportional to the focus organization puts by investing in process and human transformation by incentivizing the right behaviour!

Bonus: Use customizable retail execution platforms like Bizom for continuous success!

If you want to take the outcome-driven approach to digital transformation, you cannot work with piecemeal solutions. A full-stack customizable solution like Bizom, allows you to go live in weeks even after customization and helps you solve a plethora of business problems with one platform.

In summary, if you are a CIO or digital strategy head at a large CPG company, stop worrying about the next fancy tool that comes into your mailbox. Just focus on business outcomes through adoption and data hygiene, and you will do great! Just ask all these guys who successfully did it!

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