Don’t Get Overwhelmed by Data
Nielsen has been collecting retailer data for more than 100 years. In this time, we’ve learned something that our competition hasn’t: Data is only as valuable as the way you deliver it.
That’s why Byzzer was created. We give small and midsized businesses access to the same data as the big names, but we make it easier to understand and act on.
Your new free Byzzer account gets you access to data from: 1 category, 1 free weekly email alert, and 3 free Category and Brand Trend reports.
With that in mind, here are the three CPG reports we recommend you start with:
1. Category and Brand Trend Report
First, we recommend starting by running one Category and Brand Trend Report. This report allows business owners to compare their product’s weekly sales volume and distribution against their category’s. It benchmarks your sales trends against your category and breaks down your performance week by week across key performance measures. Essentially, it allows you to see how much market share you own, with what products, and the overall health of your brand. You’ll know where you’re winning, and you’ll be able to show category managers exactly how your brand is driving growth. If your products are selling at a much higher rate than the overall category, you’ll be able to convince more retailers to carry your products. If the opposite is happening, it means you may need to invest more in marketing or dive deeper into the data to discover why. This is a very valuable report because it provides a holistic view of your products and can uncover trends that would otherwise have passed you by.
2. Leverage Data to Get Ahead in Product Assortment
The second report we think you should pull is the Top 10 Lists report. This will give you a very quick way to discover which markets and brands are growing the fastest in your industry. This way, you can easily pick where you can get the best return on your investment and avoid throwing good money and products into a subpar market. You’d be surprised how often you’ll find that the most valuable market isn’t the one you thought it was. This information is used every day by big brands looking to understand the major markets where their ad spend and shelf space is best.
3. Incentivize Retailers to Keep You on the Shelf
Finally, to round out your free report pulls, you should look at the Price Comparison vs. Category Report. Unsurprisingly, this report compares you and your competitors. More specifically, it compares your normal and promoted prices to key competitors. This lets you easily uncover any competitors who may be charging less than you and are gaining market share because of it, or even find competitors who you can undercut and take their share. It’s a great tool to discover your actual positioning and better understand who may be selling more than you and why. It’s also valuable for helping define your CPG marketing efforts as it can help you better understand where your brand fits in. You don’t want to position yourself as a bargain brand only to find out your competitors all have lower price offerings than you.
Now that you’ve pulled some reports, you’re ready to start acting on that data. Maybe you’ve uncovered a competitor who’s leaving a niche untouched, or you’ve seen a promising trend in one of your product lines. Now you need to put that data to good use. Adjust order volumes, shift budgets, and reach out to retailers with confidence.
We also highly recommend you reach out to our team so we can help you build a customized paid plan with Byzzer, so you can quickly access 35+ reports powered by NielsenIQ data and get to growing sales and making money.
Have questions about the Byzzer platform?