Global Low Calorie Food Market: Overview
Increasing health awareness and changing lifestyles are major factors driving the growth of the global low calorie food market. The low calorie food market is generally segmented on the basis of product type, region, and its application. Globally, the preference for low calorie food is increasing, owing to its benefits such as better sleep and overall health. However, the high cost of low calorie foods and the lack of awareness regarding the benefits of low calorie foods among people in developing economies is expected to hamper the growth of the target market in the near future.
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Benefits of Leveraging Sales Force Analytics
In today’s cut-throat competitive world, the only way food market players can survive is by enhancing customer satisfaction and offering customized services to suit their needs. Customer satisfaction forms an integral part of business success as a satisfied clientele play a vital role in the long-term success of an organization irrespective of the industry or services they offer.
However, a diverse customer portfolio results in the generation of huge volumes of data that need to be structured and managed effectively. Well, that’s where sales force analytics steps in. Sales force analytics helps businesses in cultivating the best relationship with their customers. It also facilitates the development of effective strategies based on the gathered customer information along with insights from past interactions with clients.
The client is a leading player in the low calorie food market with its operating base in Canada and over 80+ manufacturing units spread globally.
Project Background and Solution Offered
A Toronto based low calorie foods manufacturing company was in danger of falling prey to challenges such as high manufacturing costs, low-profit margins, and unacceptable per capita consumption. Factors such as the inability to capture sufficient data along with the lack of expertise and resources to extract insights from customer data further leveraged their market challenges. Also, their inability to interpret sales and performance data contributed to a huge dip in the revenue, resulting in a weak profit margin that placed the organization in jeopardy.
To enhance their sales and channel management strategies the low calorie foods manufacturer turned to Quantzig to glean analytics-driven insights and develop sales force reports from the organizations’ operational and sales data. The sales force analytics experts at Quantzig developed a robust two-year strategic roadmap designed to guide the low calorie foods company to increase sales, improved per capita sales volume, and minimize costs with a long-term goal of triplicating the distributor’s profitability.
Value Delivered to the Client
Quantzig’s team of highly skilled sales force experts helped the low calorie foods company to make quick data-driven changes in their current operational structure in order to cultivate better customer relationships. The solution and recommendations helped the low calorie foods company to address its challenges on two fronts- by leveraging the food market insights of an in-region affiliate along with a global team of sales force analytics experts with extensive analytic capabilities.
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The strategic roadmap assisted the low calorie foods manufacturer to drive performance by structuring the company’s data, distilling actionable insights from the most critical market information in order to improve pricing and profitability outcomes. Along with a steady improvement in profitability, the low calorie foods manufacturer now aims to leverage sales force analytics to achieve its long-term aim of obtaining a 5x increase in turnover.