Marketing Dashboard for a flexible packaging solutions enterprise
Creating a marketing dashboard for a flexible packaging solutions companyAbout the Flexible packaging industryThe flexible packaging industry has been at the forefront of providing solutions to clients in the consumer packaged goods vertical, in electronics, defense, chemicals etc.This industry can be categorized clearly into 2 segments The leaders The followersThe leaders occupy enviable positions as innovators, path breakers and though leaders in the business. The followers pick up on the original ideas and solutionsoffered by the leaders, and are left to fight for market share with deep discounts and price under cutting.Solutions marketing initiatives in leaders in the flexible packaging industryIn flexible packaging companies that occupy leadership positions, the approach to a solutions business is ingrained in the DNA of the enterprise. Top classmarketing professionals are trained to be analytical in their assessment of a client’s needs and then offer a solution that best meets that specific need.A simple case will highlight the process:CMO from the packaging company (Leader in the industry) will visit PEPSICO and take a brief for the launch of a new LAYS product.His questions to the buyer would be Is there a budget for the packaging? If yes, what is the budget? What would be the expected off take for the packaging – per month, per annum?His questions to brand/product manager would be What would be the expected off take of the new brand from the retail shelves?
For how many days is the brand/product expended to remain fresh on the retail shelf-15 day, 30 days, 45 days, 3 months? Do you have a design ready for the packaging or are you outsourcing it? Has your agency created a visual that you would want to use on the packaging? Is visual appeal of the packaging important for the brand to stand out on the retail shelf? What sort of packaging finishing does your target consumer prefer- matt, glossy, holographic? Who is your consumer- kids, young adults, mature adults, women, men?Hi questions to the production manager would be What type of packaging machine do you have? Is it a VFFS (Vertical form fill seal) machine, or a flow wrap machine? What is the COF (Coefficient of friction) requirement of packaging line? What is the packaging speed of the machine? What is the heating temperature of the machine at maximum speed, at medium speed and at low speed?After analyzing the answers to the above, the CMO will go back to his team and share his report with team members , representing the costing and finance, theR&D and the production planning departments to take them all in confidence and to jointly develop options that best meet the client’s requirements. Thecosting department will prepare a proforma costing sheet, the R&D team will propose the best combination of materials that will meet the performanceparameters of the client, and the production planning will prepare a work flow plan to accommodate the new job when the formal order is placed.The R&D department prepares a technical document that suggests 5 possible structures that could work for the client, these are passed on to costingdepartment, that prepares the cost sheet for each option, and these options are presented to PEPSICO by the CMO as a formal quotation.As part of the solution, the CMO minimized the client’s financial burden by amortizing the development cost, and offers to develop the packaging design for theclient in house, free of cost. The CMO walks away with the contract for supply of 100 Metric Tons of packaging for a prestigious account like PEPSICO.The Solutions council in the flexible packaging solutions companyThe Solutions development council consists of the marketing and sales team, the costing and finance team, the R&D team and the production planning team.The Marketing and Sales teams are central to the solutions council and it is through them that the critical information flows to the other members of theorganization, which enables them to collaborate and to propose a solution that best meets their client’s requirements for a successful launch.In most flexible packaging solutions companies, which have leadership positions in the business, the roles of marketing and sales are not differentiated.Therefore it is rare to find a marketing function in these companies; the role of marketing resides in the sales or business development functions.
The organization of the SOLUTIONS DEVELOPMENT COUNCIL in flexible packaging industry CEO COO Costing and finance Marketing R&D Production planning and and Sales sourcing
The Marketing dashboard for the flexible packaging industry leader CORPORATE MARKETING GOALS WEIGHT OBJECTIVES WEIGHT ACTIVITIES MEASUREMENT TOOLS GOALS Conduct joint workshops with R&D, costing teams to explore To retain the flexibility to offer opportunities in innovative Increase number of a customized solution to your technologies and new flexible packaging clients, based on their specific materials in the packaging Workshops conducted per solution offerings needs, at the best value 5% industry. year FINANCIAL- Number of training Increase Generate qualified Increase current customer programs conducted forrevenue by 10% leads for sale buying rate by 20% 10% Sales force training program sales team per annum and net profit Increase sales within Increase number of closed Reinforce relationships with Contribution to revenue bymargin by 5% of new account by 5% leads by 5% 10% customer doing follow-up new accounts our overall 40% Improve the quality of business sales leads to enable Increase awareness among Internal research to study through the sales new customers to generate 20 opportunity in every business solution management team to qualified leads within 12 vertical and analysis of Achievement of sales marketing meet their objectives. months 5% secondary research report target by the sales team initiatives. Conduct joint workshops with Increase number of unique R&D, costing teams to explore solutions offered to the opportunities in innovative existing and new clients for technologies and new Strategic Competitive sustained long term business materials in the packaging advantage relationship. 10% industry. Workshops per year CUSTOMER Increase the number SATISFACTION- of qualified leads by Increase the 5% and convert those Conduct incisive , client and 30% overall leads into viable Create a positive buy in for consumer focused research to satisfaction of sustainable solutions internal customers for the enable your client to become RFPs received by the clientthe internal and based businesses. solutions marketing initiative 5% a qualified lead. after presentation
the external Build a closer customers. relationship with the Rigorous follow up by the Number of calls and visits customer Decrease complaints by 10% 2% marketing and the sales teams to customers/ month Compelling presentation to reference clients based on analysis of their customers’ needs, and the best value proposition for your client Increase the number Convert 5 references into with the choice of solutions on Portfolio analysis (more or of reference accounts business 10% offer. less options used) Train sales force to improve Maintain customer their solutions selling satisfaction level over capabilities and provide them 85% with effective tools 5% After sales service Third-party research Develop workshops for various departments to integrate them in the Align the organization Create a positive buy in for solutions culture (Finance, into a solutions internal customers for the Production Quality control, Number of workshops culture solutions marketing initiative 8% R&D, C-Level and Sales team) conducted per annum Grow brand Achieve a 80% brand recall in Hold Speaker series with key Minimum of 4 events per awareness target client segment 10% client decision makers annum, one per quarter Utilize the strengths of the R&D team to publish white BRAND- Create a sustained Establish the company as the papers, technical spec sheets Increase the thought leadership 1st choice for clients looking and participate in industry program within the 30% for comprehensive, flexible events as sponsors or Number of paperscore corporate brand value organization. packaging solutions provider. 10% speakers published Increase number of Google searchers by 20% 5% Google Ad words Analytics/web analytics Increase site hits 3% Improve design of web page Analytics/web analytics Inbound marketing Increase time on page 2% Advertising Analytics/web analytics