As we kick off this new year, there may be obstacles in your category plans that can unknowingly limit your category results. These obstacles exist for many retailers because their category analytics and plan development haven’t kept pace with some of the biggest disruptors in the industry – including data, the changing shopper and the changing marketplace. If you don't change your strategies, processes and thinking to consider these changes, and don’t open up to new perspectives and ideas, your biggest growth opportunities can be completely overlooked. Below I’ve captured some examples of potential barriers that may be limiting your growth:

Data investments can be in the millions of dollars for organizations. ROI requires using it wisely — here’s how: If you’re like most organizations, you are purchasing more data than ever before, sometimes making decisions on what to purchase without creating necessary standards on when or how to use it to your advantage, but proudly adding it to the portfolio of data that your organization now has access to. Are you maximizing big data? Read on to discover the 4 requirements for Retailers and Suppliers / Manufacturers to maximize data investments.

In this week’s podcast blog, the focus is Collaboration (also known as joint business planning). Today, we’ll define collaboration and why it’s so important to be successful as the future of category management unfolds. Plus, you’ll take away some key considerations to prepare for collaboration. So why does strategic collaboration in category management matter and what’s your status?

My last podcast/blog identified areas in category management that need to change, driven by developing trends in the retail industry, the Shopper, their path to purchase, and more complex data and technology. This week I talk more about how Shopper influence and the Omni-Channel are changing, and the implications that each has on category management.

Collaboration is on many organization’s strategic plans, with effective Joint Business Planning (JBP) being the outcome. Retailers’ and Vendors’ have the opportunity to determine mutual areas of interest and build their businesses in a collaborative way — namely by taking steps to improve Shopper satisfaction with a better experience. However, effective Collaboration and JBP require more than a desire or written strategic plan. Both require that your organization undertake 3 consecutive steps: Prepare your organization internally for collaboration; Align your internal approach across your multifunctional teams through common training; and Implement external Collaboration and Joint Business Planning. Collaboration and Joint Business Planning can help both Retailers and Vendors manage the change that continues to dominate, including: Changing partner needs and expectations between Retailers and Vendors Changing market and Shopper, Less resources available internally due to downsizing / consolidation, and Increased requirements due to more and bigger data and a more complex Shopper.

Collaboration + Shopper Marketing How can you be successful in both? This is what the Category Management Association (CMA) has to say, “Building a marketing plan ‘through the eyes of the Shopper’ to create value for both the Retailer and Vendor requires collaboration using the best practice methodologies, insights, data and tools available. Category Management can serve as the umbrella under which the collaborative process is facilitated” (Strategic Collaboration for Shopper Satisfaction, 2015). Here are some great resources from CMKG for you to get started: "Strategic Collaboration: Are you Really Prepared?" blog posting Understanding Shopper Trip Missions complimentary download

Fact-based skills are a requirement in today's world The combination of an increasingly complex world, the vast proliferation of data and the need to stay one step ahead of the competition has sharpened focus on using analytics within organizations. Here are some great downloads from Category Management Knowledge Group for you to get started on fact based sales: Turning Data Into Insights complimentary download 5 Requirements for Compeling, Fact-Based Presentations infographic complimentary download

Strategic collaboration is a buzzword in the industry. Many Retailers and Vendors have it embedded somewhere in their strategic plans for 2015. Do you have a plan on how to get there? Here are some great resources for you to get started on collaboration: Category Management Training video previews with accredited content on “Collaborative Business Planning” and “Retailer Strategy” (plus other previews) from Category Management Knowledge Group