TPM – Challenge all promotions

Many enterprises now use promotions to increase sales. However, promotion management causes many enterprises problems when they are unable to control their budgets, can only perform simple promotions, and cannot perform and manage complex promotions on the same software, promotion results, virtual metrics, failure to assess the market situation, and budget loss. So, how can you handle promotions to maximize efficiency? Let’s go, HQSOFT, and find out what the solution is.

What exactly is trade promotion?

Trade promotion is an activity that promotes and seeks chances to purchase and sell goods and give services, and it includes promotional activities, advertising, display, the introduction of goods and services, trade fairs markets, and trade shows.

The primary function of Trade Promotion is to implement solutions that make it simpler for customers to obtain items. At the same time, deliver the finest product experience to consumers via distribution channels such as retail locations, supermarkets, and trade centers… However, offer a strategy for managing promotions. It is also vital in making the most of the market.

As a result, promotions have played a particularly important role in attracting consumers and promoting sales for the distribution system thus far. Through the planning of long-term marketing or short-term commercial plans.

Promotion is a powerful kind of market competitiveness.

Enterprises are continually racing to extend their market share through promotion. However, if you are not a “big man” you may find yourself swiftly left behind in the rush to “burn money” on brand advertising. This is considered a competitive technique to swiftly remove small enterprises to make place for the industry’s larger players. As a result, in order for enterprises to exist, an effective development plan must be chosen.

Many firms now use a kind of advertising to better reach their customers. Gift promotions, discounts, vouchers, lucky drawings, membership cards, loyalty cards, and so forth. Promotions will help to shape customer purchasing mentality. With the general mindset of wanting to be owned, the purchase of products as a present, the purchase of gifts with home appliances, or the percentage promotion… are always aspects that “knock down” consumer buying psychology. This allows the invisible firm to care for existing clients while also attracting new ones.

However, implementing promotions in large numbers at the incorrect moment has a significant impact on the budget and long-term development strategy. As a result, understanding the correct client psychology at the right moment, as well as properly managing promotions,  … will be the factors that help enterprises stay strong, as the market is expanding.

90% of firms struggle with promotion management.

Most enterprises seek to satisfy and attract new consumers by offering a range of specials. However, many organizations struggle with the execution and assessment of promotions in order to change their strategy for future promotions. Typically, firms will face the following challenges while managing promotions:

Difficulties with implementing and managing various sorts of promotions

To compete in today’s market, the marketing of “unique and strange” will always be a point to draw customers’ mentality. Duplicate gift gifts and promotional things… will not increase brand efficiency. As a result, firms are always seeking new forms of promotions to influence consumers’ purchase decisions. A single promotion, on the other hand, is more complicated to administer and maintain. Because the promotion management software does not yet provide a variety of promos for enterprises to pick from. Or it must be optimized at a high expense in order to satisfy the demands of the business.

Manage the promotion’s budget.

Budget is usually a worry for firms when planning a campaign. How can you save money while still providing great marketing to your customers? At the same time, enterprises must provide a suitable budget for each area and distributor in order to assess and control the efficacy of their promotions. However, many firms can only submit a total budget for the program at this time, leaving the budget distribution per area uncertain. This will result in a situation in which one region has an extra budget while another does not have an adequate budget to capitalize on consumer purchasing performance. Make the marketing less successful than anticipated. Therefore, in managing the promotion program is that you have to come up with a budget suitable for each region, each distributor, each store, etc., then the promotion can be effective as expected hope. From there, it will lay the foundation for a more effective analysis and exploitation strategy of the brand.

Promotional items do not reach the intended audience.

enterprises’ primary worry when running promotions is whether or whether the product reaches the proper consumers who are interested. Then, study customer purchasing behavior and create timely business ideas. Many promotions, however, do not reach the target customers due to a variety of issues. Making it difficult for companies to obtain information unappealing promotions, promotional items that do not benefit the target group of clients, promotions at the incorrect time, unappealing displays, and so on are some of these causes. This causes organizations to lose money and confront several challenges in evaluating their efficacy in order to capitalize on market growth. From there, it is difficult to come up with effective market exploitation strategies.

Managing promotions for each region and region is difficult.

Each region will have a different development plan to enhance consumer buying power based on its growing capabilities. Managing promotions in each location provide several obstacles for a company with a large distribution chain. According to several enterprises, the inability to correctly and immediately update the promotion results in order to study user behavior has hindered them from grabbing the chance to establish timely development strategies… The great majority of these enterprises frequently utilize paper reports, which are pooled and sent to enterprises. However, the limitation of paper reports is whether the data is accurate or not. And it takes a long time to compile data to send to enterprises about the results of the promotion. Therefore, despite implementing many promotions, ineffective management will not bring about the right purpose set by the business.

Paying distributors is difficult.

When executing promotions, one typical method used by distribution networks is for distributors to advance promotional items to customers. Following the conclusion of the campaign, the company will check the program outcomes report and return the incentive to the distributor. Traditional management, on the other hand, takes a long time to distribute bonuses. Because it is required to compare the book data in order to determine the precise amount of items that the distributor provides to the consumer. This stage might last several months. As a result, it has resulted in dismal psychology for distributors, and the rate for distributors to engage in the following business initiatives is relatively low. Enterprises, in general, lose an efficient consumer access route. Quick aggregation and timely payout are challenges for enterprises with traditional promotion management methods.

So, a business in the era of information technology development will have to do to increase the effectiveness of the promotion. You can apply HQSOFT’s DMS solution with TPM software to support promotion management.

TPM – a comprehensive solution for managing promotions of eSales Cloud DMS

Module TPM (Trade Promotion & Budget Management), is part of the ecosystem in the eSales Cloud DMS solution. To help enterprises manage their promotions effectively, avoiding losses. Currently, HQSOFT’s TPM solution can help your business manage promotions through the following features:

Support more than 100 different types of promotions suitable for many industries

With each specific product of each different industry, each business will choose a form of promotion to suit its customers. Maybe, enterprises will choose the form: buy one get one free, accumulate points, buy goods, get discount vouchers, etc. 15 years of experience in providing eSales Cloud DMS solutions for enterprises and multinational corporations in the sectors: FMCG, agriculture, pharmaceuticals, building materials production, F&B, beverages and beverages, logistics, cosmetics, finance, fashion, electrical appliances, and household appliances, lubricants. For customers: Johnson & Johnson, VPMilk, Nutifood, Tuong An, Home Credit, Chevron… eSales Cloud DMS solution, TPM module, can provide more than 100 different types of promotions to meet the needs of customers. enterprise. The types of promotions integrated with the TPM module can handle promotions from simple to complex promotions. Therefore, enterprises can use it to execute and manage effectively without optimization. Therefore, the eSales Cloud DMS solution, TPM module can completely meet the needs of approaching and understanding more customers of enterprises.

Automate reporting of promotions results quickly and accurately

According to the traditional management method, it takes about 2-4 weeks after each promotion program for distributors to collect data to send to the company to receive the reward from the company. However, the reported figures are not always accurate. With the DMS solution, the promotion report is fully automated for quick retrieval by the distributor. After each promotion, the DMS solution will automatically claim information about the product, quantity, and revenue of the promotion so that management can update it. Enterprises can compare the data to pay the distributor’s discount or advance product At the same time, with the Core DMS system, the data is synchronized for the entire DMS system, and the distributor can compare salesman data… Therefore, the data reporting process is also fast and accurate. TPM software will provide real data for enterprises to analyze after each promotion to have the right development strategies.

Allocate the budget for each region, distributor, salesperson, and store

Promotion is effective when regional development indicators have been analyzed by the business. From there, with each different region, there will be a specific promotion plan to match the habits of consumers. When using the eSales Cloud DMS solution, and TPM module, enterprises can proactively offer promotional plans to suit each region. At the same time, with TPM, enterprises can also plan a budget not only in terms of money but also on products to distribute appropriately to each distributor. Besides, the budget is also distributed in detail for each salesman to be able to implement the promotion more effectively. Therefore, with TPM with the feature of detailed budget allocation, enterprises can rest assured that promotional products will reach consumers. And consumers can quickly reach out and engage with enterprises.

The SMS system automatically updates the promotion program for the distribution system

TPM solution, with an SMS system automatically updating customer promotions. Help customers quickly and accurately update business promotions. This is also seen as a way for enterprises to take better care of their customers. With this automatic SMS Marketing feature, enterprises are completely assured of reaching a suitable number of customers with their brand.

So, in order to attract customers, in addition to you must have diverse promotions, and capture the right psychology of customers. The management of the promotion program to achieve high efficiency is also extremely important. With the eSales Cloud DMS solution, the TPM module is an effective right hand for you to better manage promotions.

If you are still looking for answers about managing your distribution system effectively. Please contact HQSOFT immediately via hotline: 0792.342.278 for our support and advice on DMS solutions for your business.