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According to recent reports, the global retail market reported revenue of 26 trillion-plus dollars in 2021 and is expected to grow to 30 trillion dollars by 2024. Therefore, this is the right time wherein retail businesses should start looking for retail execution improvement opportunities and establish deep connections with customers along the whole value chain.
As a global market leader, Salesforce has geared up with its customer relationship management tools. They have recently launched a new cloud called Salesforce Consumer Goods Cloud to make everything work out for businesses unexceptionally.
Consumer Goods brands who are into in-store marketing and merchandising unveil the figures of ROI, definitely different from what they have planned to drive out. So reinvention can do wonders for Consumer goods companies in the current scenarios.
With rigorously polarising consumer shopping habits and needs, CG companies must fasten the belt to identify the right consumer segments and which retail channels require prioritization.
But now the question is how retail store businesses will revolutionize their operations in the custody of Salesforce Consumer Goods Cloud.
Let’s find out about it all in this blog.
Salesforce Consumer Goods Cloud is a comprehensive cloud solution created by Salesforce to manage consumer products, perform retail planning, and optimize store visits.
This cloud-primarily aims to develop cooperative relationships, facilitate growth and spawn high sales. With an emphasis on audit accuracy and business growth via outpacing the competition, it performs well as a retail management software.
Brands need to manage their operations effectively. And Salesforce Consumer Goods Clouds have already got its platter ready with multiple benefits like easy-to-use infrastructure and quick implementation. It also gathers history, demographics, and location information to build a thorough consumer profile across all touchpoints.
A variety of consumer goods businesses, including those in the personal care, cosmetics, food, beverage, and healthcare industries, can access the supply chain using the Consumer Goods Cloud. It is considered one of the prime components of the Salesforce Customer 360 Platform. 360 Platform is an integrated platform that combines different organization business units and provides them access to a single shared view of customer data, helping them deliver their clients a comprehensive shopping experience.)
We all now have a fair-square idea of how the Consumer Goods Cloud will break down the complexities faced by consumer goods companies. So now, let’s move on to the Consumer Goods Cloud’s prominent features.
Field sales representatives get access to a list of the day’s prioritized shop visits, suggested and mandatory activities, and an in-app map feature for intelligent routing. Additionally, field sales representatives can recognize additional opportunities for their goods while analyzing the health of their business throughout all stores.
It tends to boost adherence and product distribution. Inventory, planogram, and merchandising compliance checks are made simple by the cloud-based image recognition and object identification technology of Einstein Vision.
Thanks to the Consumer Goods Cloud, field professionals may spend less on audits and more time building client relationships. Only by physically counting and entering the data into the system can a sales representative, for instance, take a shelf picture and instantly know if it is set up correctly.
Salespeople have access to templates that can be customized based on the type of store or industry. It enables them to ensure that specific store requirements are met each time, from their mobile device, from stock and planogram inspections to return order fulfillment and evaluations.
It validates that sales agents completed all their assigned tasks and submitted accurate reports, providing executives with a comprehensive understanding of the visit.
A salesperson can obtain orders during a store visit through wireless order-gathering capabilities and gather vital information such as product, quantity, and pricing.
Every firm continues to place a high focus on customer service. As a result, field representatives must-visit retail outlets to carry out significant tasks when discussing Consumer Goods companies.
Sales managers are responsible for planning it out in advance so that representatives sell the right product to the target customers at the right time in the retail outlet.
Einstein for Consumer Goods Cloud shares some excellent selling points to sales managers that help in revolutionizing Store Management services:
Sales Managers can utilize multiple data points to optimize retail visits and onsite tasks. Consequently, this will prompt the acceleration in return on investment.
With Einstein AI, you can receive ingenious recommendations for the allocation of the visit of field reps at the right store each day within a planning window.
You can get benefitted from task recommendations from Einstein AI, i.e., suggestions on what task you can assign to a specific field rep for performing during the store visit. All these suggestions help the sales manager make several decisions, be it maximization of in-store sales, increment in the shelves’ share, and enhancement the promotional returns.
Field reps need guidance in verifying whether the in-store placement has been done correctly. It is not possible to keep pinging the Sales Manager for the same. But no need to worry as Einstein AI has also taken care of this task. It provides Einstein Object detection that lets field reps perform planogram checks for product placement, on-shelf availability, the share of shelf, product facing, stocking, re-stocking, and more.
It’s another benefit that Einstein AI lets businesses enjoy by providing Salesforce Maps. With these maps, managers can define optimal routes for field reps to perform store visits effectively.
Not only is the Salesforce Consumer Goods Cloud fruitful for consumer goods businesses, but it could also be one of the greatest assets for retail store management companies. To ensure that everything fits right into the puzzle, we are suggesting some workable tips to make the implementation process of Salesforce Consumer Goods Cloud for your business a smooth one:
The names of retail stores may come from the retailer’s system and may only sometimes follow the logic ideal for your own CRM. Retail store lists may be lengthy and provided to you in various formats. As an example of a good naming convention, in our recommendation, you should use store type, area, and city. Depending on the number and density of your establishments in a particular region, you should use numbering instead of just the street name as an additional feature.
You can naturally organize our data in fields and lists, even with thousands of retailers and locations. Sales Managers can visualize and modify store assignments thanks to the capabilities of Salesforce Maps and the data you upload to the Consumer Goods Cloud. In addition, you can use the Consumer Goods Cloud if your territory planning is more complex. You can purchase and use a supplement called Territory Planning.
Based on several sales areas, store priorities, and anticipated visit quantities, the engine strives to design the optimum routes and visits for your sales reps. It takes some time to iterate over the priorities, sales region sizes, and anticipated number of visits when setting up the planning engine. Try to repeat with your Salesforce partner on various scenarios to see different results based on altering the inputs to the system.
All the sales agents operating the routes must understand how the routes work and the potential benefits of passing some stores. Despite this, it is still a wise idea to view the routes as primary suggestions, and sales representatives need the ability to arrange commercial trips as needed quickly.
For FMCG(Fast Moving Consumer Goods) firms to develop their brands and engage with their end-users, direct interaction with retailers at the point of sale continues to be essential. Building brand foundations and positioning products and campaigns are crucial and enjoyable tasks in retail operations. For a customer, it is necessary that sales representatives quickly and easily compare one another on quarterly duties and discuss their findings from a shop visit.
The experienced Salesforce Consultancy offered by Cyntexa will help you effectively utilize the Salesforce Consumer Goods Cloud and make the most of your retail management software. Additionally, you may benefit from Salesforce connections to unify all your business software on a single platform and boost productivity to keep up with the times. Your company must utilize Salesforce Consumer Goods Cloud to achieve optimal retail execution. Don’t let your customers wait to receive the top-notch retail store experience; immediately implement Salesforce in retail easily and increase your sales with Cyntexa.
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