One way to boost the impact of revenue growth management is to elevate it to the point where it shapes the company’s marketing strategy rather than simply supporting it.
Revenue growth management is based on deep insights, allowing businesses to make more comprehensive decisions about where to play and how to win. The insights are derived from rigorous assessments of data from primary and secondary sources, providing businesses with a more comprehensive view of possible opportunities. Improved insights are generated in the following areas
How it’s designed, what the most attractive revenue and profit streams are, and how they’re shifting.
Which brands participate (and win) in each channel, how they are positioned, and what their financial goals and prospective strategic approaches are.
Consumers and Shoppers
Who they are (including the number and growth of significant consumer groups), how they make purchasing decisions and exchange, how price sensitive they are, and how attracted they are to other products.
What usage or consumption occasions exist, what demands are linked with each occasion, and how current products and ideas fit those needs.
Channels and Customers
What is the current and future growth and profitability of each channel, as well as the quality of execution in each channel.
With these insights, a company may create and implement a comprehensive portfolio of both short- and long-term initiatives to achieve above-market growth. These initiatives might include choices for filling market “white spaces,” adjustments in pack-price architecture to better serve consumer and shopper demands, and channel-specific movements. The data can also assist a company in prioritizing capital and operational expense initiatives.