Strategic positioning of products is essential for achieving your business goals. By leveraging data-driven insights and targeted strategies, you can effectively expand market presence, maintain category dominance, and enhance average order values. This approach allows for precise targeting, better resource allocation, and a comprehensive understanding of market dynamics, ultimately leading to improved business outcomes.

What to Promote Based on Your Objectives?

Building on the metrics and objectives defined earlier, let’s explore three practical examples:

Increase Market Penetration

To expand your market footprint within the retailer, identify products that are both popular and offer high margins but are currently underperforming in their category. Begin by analyzing data from your Dashboard, noting trends such as company growth rates compared to the category as a whole. For instance, if your company shows growth at 43.1%, but the category is growing at 66.2%, it suggests a loss of market share.

Drill Down into Category Performance: Utilize the Sales Pulse screen to delve deeper into category performance metrics. Identify which products are top sellers and analyze their growth trajectories relative to competitors.
Identify Growth Opportunities: Look for products within your brand that exhibit lower growth rates than the category average (e.g., 8.3% growth versus 66.2%). These products represent prime candidates for boosting market penetration efforts.

Maintain Category Share

When the goal is to maintain category share, focus on promoting products crucial for your dominance within a specific category, even if they are currently on a declining trajectory. For example, in the Face Moisturization category:

Advanced Analysis: Utilize the Sales Decomposition screen to identify products contributing to overall sales declines. Prioritize products with high impact on category performance.
Promotional Strategies: Develop targeted retail media campaigns that highlight unique product features compared to competitors. Consider strategic bidding and promotional tactics to regain market share.

Increase Average Order Spend

To increase average order spend, leverage insights from the Customer Intelligence module to identify cross-selling and upselling opportunities:

Bundle Opportunities: Use customer data to create bundles based on past purchasing patterns. Offer these bundles as attractive options to increase average order value.
Cross-Category Selling: Analyze missed cross-sell opportunities where customers are purchasing related products from competitors. Develop strategies to capture these sales through targeted marketing efforts.

Practical example 1: Assessing Gross Revenue Impact