For Revenue Growth Management: CPG Companies Should Be Proactive and Pivot

©iStock/Vladimir Obradovic

The fundamentals of revenue growth management (RGM) remain, but global CPG companies will need to pivot fast to respond to the crisis and lay the groundwork for the next phase.

Plan for the new normal, and that's whether you are running a consumer product goods (CPG) company or any other type of company.  Lead with purpose.

Even as companies work nonstop to stabilize their business, we believe it is critical to allocate significant time to planning for the postcrisis phase. It can be as simple as executives spending a few hours every week thinking ahead, or as committed as assigning a specific team responsibility for creating RGM [Revenue Growth Management] plans for 2021 and beyond. To succeed at RGM in the next normal, CPG companies need to focus on consumers, shoppers, and customers, and define scenarios for each.

According to the authors, experience shows that companies that take a proactive approach, repositioning themselves to navigate the disruption and planning ahead for the post-crisis world as best they can, stand the best chance of not only surviving but coming out on the other side stronger.

More here.

from The Global Small Business Blog https://ift.tt/2WSuYyW