By Greg Hilton
Great job – You are a manufacturer sales representative setting up a trade promotion contract for a large chain account and you figured out how to double your volume on the contract.
Not so great – You got twice the increase in volume by selling your products for half the listed price!
Synopsis – You may be the shortest tenured sales representative in the history of the example company. I put that together after only the minimum “required economics” courses in college.
Knowing the impact of your contract management decisions is vital to success, not just with one of your customers, but also with your whole portfolio. Knowing that one or two contracts are performing well is really great, but not understanding the performance of your contract portfolio is critical. You need more than great software to enter deals. You need a portfolio analysis process that only Answers Systems and ContractPro® 3D reporting can offer.
If you cannot answer this question, “How much business (that I did with ABC distributor) was due to my own trade spend activities and how much is just due to the contracted businesses that my sales team generated”, we can get your organization there. It is not just about creating/storing good contracts, it is about having the team/technology at your fingertips to get this and many essential questions answered.
Want to embrace the issue, consider the solution and really improve your organization’s trade promotion management? Contact us. Answers Systems' ContractPro® and ValuTrak® solutions are software and outsourced services designed for the unique and specific needs of the foodservice industry.
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contract management,
trade spend,
sales