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Consumer-goods companies have learned to capture significant value from revenue growth management. But the market is challenging them to improve their game again. Here’s a road map for success.
Key takeaways. In the current inflationary environment, revenue growth management (RGM) has emerged as a top priority for consumer leaders, and companies that do it well typically see a significant gain in annualized gross margins of 4 to 7 percent.
What is Revenue Growth Management (RGM)? Essentially, RGM refers to the method of analyzing customers’ buying patterns to determine what products, services, pricing, and promotions to offer customers to increase revenue.
Revenue growth management—also known as net revenue management—isn’t just another pricing program. Rather, it’s a savvy way to handle net revenue, which is essential for funding operations and production.
Input costs for many products have jumped, and consumer behavior has shifted significantly, intensifying the pressure to rethink revenue growth management (RGM). CPGs need a differentiated, three-step approach to become best-in-class. But their window for taking action is narrow.
Revenue Growth Management refers to the process of boosting revenue and margin using a combination of strategies related to assortment of products, pricing, and promotion. Revenue Growth Management (RGM) adopts an integrated approach brought about by different functions of an organization working in unison.
At its core, Revenue Growth Management is a holistic strategy aimed at maximizing revenue across an organization. It involves a systematic approach to pricing, promotions, and product availability. By leveraging data-driven insights, businesses can align their pricing strategies with consumer demand, ensuring both profitability and customer ...
To drive sustainable growth, companies need real-time insights that allow them to identify a problem or opportunity, address it and measure the impact immediately.
Based on our experience, the most immediate and impactful means of improving growth while protecting margins is through the approach known as Revenue Growth Management (RGM).
Revenue growth management (RGM) is no longer a once or twice a year process. The disruption in price and promotion by the pandemic serves as a reminder to those managing revenue of the importance of being able to review, remodel, or adjust strategies on an ongoing basis.