The Invisible Economy of Consumer Engagement: Uncovering, Defining and Optimizing the Ocean of Trade Promotion and Channel Incentives Money That Drives Consumer Engagement - Softcover

Hand, Robert L

Softcover

ISBN 10: 1737787911 ISBN 13: 9781737787914

Publisher: Hand Promotion Management, LLC., 2021

Synopsis

Trade promotion spending is the second largest line item on a major consumer products company's financials, yet it continues to fail to generate positive ROI more than half of the time. This book provides a detailed road map for how to reverse that failure and achieve near-100% ROI with dramatically higher value consumer engagement.

This is the first book to fully and comprehensively address the problems consumer products manufacturers and retailers have with breaking the cycle of failure of the hundreds of billions of dollars spent annually on trade channel promotions, negatively impacting revenue growth and consumer engagement. It changes the current paradigm of thought and purpose from a pure business-to-business value proposition to one that centers the consumer as the primary focal point and purpose for every promotion.

The entire cycle of a consumer purchase process, beginning with the identification of a need all the way through the purchase and post-purchase satisfaction and the growth of product loyalty. This definition of a consumer chain takes each step or link in that chain and details how modern trade promotion strategic and tactical actions can impact and influence the ultimate buying and loyalty decisions. The new strategic direction the book presents combines the traditional aspects of tactical business-to-business trade promotion execution with a more targeted strategy aimed directly at each step of the purchase process a consumer takes.

The Invisible Economy of Consumer Engagement begins with a historical accounting of the genesis of modern trade channel promotion and establishes a clear understanding of how and why consumer products companies manage, execute and measure trade promotion today. Through the prism of history and the evolving consumer buying behaviors, the book identifies the root causes resulting in failed promotions and offers a realistic and well-founded series of steps which must be taken to improve trade promotion fund management, account and promotion planning, channel promotion execution, and analysis. It is a powerful road map for the improvement of process, technology, data, and performance analysis of the huge amounts of money spent on retailer trade promotions.

In this book, the author, Rob Hand, leverages his 45-year consumer products and trade promotion knowledge and experience to show how any consumer products manufacturer can move through four dimensions of knowledge to achieve near 100% positive ROI on every trade promotion, eliminate the problem of empty shelves during product promotions, increase the quality and value of data, and ultimately generate the ability to effectively predict and prescribe promotions that deliver higher value consumer engagement and revenue results for both themselves as well as their distribution channel partners.

The book addresses the evolving technology of artificial intelligence-driven predictive and prescriptive analytics, advanced technology like the Internet of Things, blockchain, and how to improve the value, quality, and trustworthiness of all data. With interviews and statements from senior sales, marketing, finance, and IT executives from the world's top consumer goods companies and retailers, this book brings together an excellent combination of domain expertise and technical direction to establish a framework for future trade promotion management, execution and analysis designed to meet the rigors and pressures presented by modern omnichannel consumer engagement.

The Invisible Economy of Consumer Engagement is a must-read for anyone working at any level of a consumer products or retail company's marketing, sales, trade promotion, revenue growth management, supply chain, IT and financial organizations. It should also be required reading for university students studying these disciplines.

About this title

About the Author

Rob Hand is an American executive consultant in the consumer packaged goods, high tech, automotive, fashion and retail industries. He is a domain expert and industry leader specializing in trade channel promotion, co-op advertising, supply chain, retail execution and revenue growth management processes, technology, and analytics. He has a 45-year history of working with and helping consumer products manufacturers improve their trade promotion spending ROI, performance analytics, consumer engagement efficiency and marketing effectiveness. He is a pioneer in the channel marketing industry, founding and growing three highly successful and innovative companies providing services to the most successful global consumer products industries. He has created numerous educational and training programs, presented to global audiences, and has authored white papers, major magazine articles and blogs that have helped sales, marketing, financial and revenue growth management executives improve their companies' top and bottom lines. Rob is a member of the Trade Promotion Management Hall of Fame and is a frequent contributor to books about co-op advertising, product management, and channel promotion. He is a favorite speaker on the topics of consumer products and trade channel promotion globally and has a highly successful podcast-The TradeScope Podcast. Mr. Hand's background includes executive positions at SAP, Oracle Corporation, Capgemini, and Avanade, providing global leadership to consumer goods practices, software product management and industry strategy. He has served on the board of directors of both commercial corporations and non-profit organizations and provides ongoing direction to many venture capital and investment companies seeking to enter the areas of trade channel promotion, retail execution, analytics, and technology services. Rob is based in the Austin, Texas area and is an avid musician and sailor. He is a graduate of the University of Memphis and is a veteran of the United States Navy, having served in aircraft carrier-based fighter squadrons and anti-submarine warfare units. The Invisible Economy of Consumer Engagement is his first book.

Edition details

• Publisher: Hand Promotion Management, LLC.
• Publication date: 2021
• Language: English
• ISBN 10: 1737787911
• ISBN 13: 9781737787914
• Binding: Paperback
• Number of pages: 294