Now more than ever, CPGs must focus on the smallest details to create the biggest gains. To increase ROI, companies need to save more time—breaking down data faster and simplifying strategy—as well as take control of pricing and promotions for every product they offer.
These are goals that AI and machine learning can help you achieve.
The single most important thing that Wise Athena does to address the above issues is to take the fear and reactionary pricing out of the equation. In fast-paced, highly competitive markets, it’s easy to make costly mistakes while trying to keep up with the Joneses, misplacing products, and spending too much money on trade promotion, for example.
Outdated, low-fi tools and models force companies to repeat their strategies. The result: These companies struggle to track seasonal trends, fluctuating product demands, and market shifts.
It’s time to transform pricing and trade promotion strategy from alchemy to science.
The world has changed. The way we do business has changed. Your success can stay the same, or even improve.
To increase ROI, you first need a better understanding of price elasticity. Wise Athena pinpoints when price increases are possible and by how much. It also helps calculate how much volume and margin you’d be gaining by implementing said price increase strategy.
Wise Athena’s Scenario Map is another predictive tool that can help improve your ROI. It generates predictions for each SKU, providing hundreds of scenarios, each one individually optimized for your product portfolio. As you know, avoiding costly risks leads to greater returns.
Next, the Price Simulation Module will compare your products, volume, and pricing against the competition. The advantages here are obvious: This is your shot to build better strategies that defend and ultimately increase your market share.
Finally, Summary View allows you to view all your Key Performance Indicators in one place. You can compare recent pricing and promotions against previous years, explore your top products by volume and margin, review monthly sales margins, and more. By spending less time and effort gathering and organizing your reports, you can focus on other growth opportunities.
It’s time to transform pricing and trade promotion strategy from alchemy to science. The world has changed. The way we do business has changed. Your success can stay the same, or even improve. Wise Athena is a ground-breaking, analytical, predictive tool that provides a one-stop shop of CPG solutions.
Contact us to learn more about how Wise Athena can help you increase sales and margins, offer valuable insights that continue to improve over time, and optimize both your pricing and trade promotion strategies.