AI helps to create an optimized
When it comes to create a winning deal for customers. It need in depth thought process and planning. Brand managers find themselves in a spot while answering tough questions related to highlighted issues.
Due to lack of clarity, questions kept coming, and the planning process increasingly became complex. And due to the sheer volume of products and tight deadlines, Brand managers simply tweaked their earlier strategy. They had shifted approximately 35% of the last year’s promotion plans with a minor change in discount.
- Challenge in deciding the retail channel, offers, product category.
- Challenge in deciding promotion timelines.
- Challenge in arriving at the promotion budget based on target sales, demand, etc.
- Lack of indicative figures of returns on campaign investments.
The SpendO Way
SpendO stepped in with a solution to transform promotion planning with AI. Our platform helped the company to
- Learn from historical data patterns identified and communicated by AI.
- Simulate millions of promotion scenarios.
- Optimize every single promotion for better results.
- Prescribe a winning deal.
SpendO provided optimized end to end promotional plan with details like which retailer, which product, starting the week, ending week, how much should be invested as Trade Spend and what will be the outcome if this promotion plan was to be executed.
Brand Managers could also compare the optimized plan with last year to see YOY improvement in results.
Accordingly, they now had the knowledge to increase/ decrease the budget for specific products and measure the outcomes.
- High performing promotions were achieved using the optimized plan prescribed by SpendO.
- The brand managers realized lower spend and higher turnover with AI prescriptive models.
- They could perform what-if analysis using AI ensuring the final outcome was the best deal possible.
- Brand managers are now planning promotions with more confidence.