Winning Consumers In-Store - 2
While the technology undoubtedly gives CPG companies a competitive advantage, there are some challenges that companies typically face when adapting to in-store technology:
Analytics: Almost all CPG companies use analytics. However, most of these companies use a hybrid of desktop and enterprise applications. To get the most out of in-store technology deployment, companies will need to optimize analytics systems so that they function consistently across the organization to capture accurate and complete data.
Measuring ROI: This is one of the most important metrics for in-store initiatives, but I'm not sure how many CPG companies have the right tools to measure this accurately. It is a key indicator in determining if existing in-store programs are effective and something you will need to track to ensure you get the results you want from your in-store technology solution.
System Integration: In my experience, I have observed that a majority of CPG companies use piecemeal solutions to support in-store operations. If you're investing in a new in-store technology, it's probably a good idea to have all in-store systems harmonized with each other.
Organizational Limitations: It is critical to create robust data models that teams have confidence in and deploy the right people to analyze model results and data. Without these, even the best technology will be rendered ineffective.
As you can see, preparing to deploy in-store technology is almost as important as the technology itself. Analytics systems, ROI measurement, system integration, and organizational limitations are some of the more important challenges in the process. The benefits of the technology, however, will be well worth it.
