Crafting the Perfect RFP for a Trade Promotion Management Tool

So, you've decided it's time to take your trade promotion management strategy to the next level by finding a TPM vendor who gets you.

But before you start swiping right on every shiny solution out there, you have to make sure you're attracting the right fit. Enter the RFP (Request for Proposal) – your trusty tool for finding your TPM soulmate.

The RFP is your chance to lay out your needs, wants, and non-negotiables, and see which vendors are ready to sweep you off your feet.

But how do you craft the perfect RFP? Let’s find out.

What should my RFP include?

• Define Your Goals: First things first: what do you want to achieve with a TPM solution? Increased efficiency? Better ROI? Seamless integration? Jot down your top objectives so you can find a vendor who shares your vision.
• List Your Requirements: Now, get specific. What features and capabilities are must-haves for your brand?
  • Data integration and analytics
  • Planning and budgeting tools
  • Post-event analysis and reporting
  • ERP and CRM integration
  • Mobile Accessibility
• Outline Your Evaluation Criteria: How will you know when you've found "the one"? Establish clear criteria for evaluating vendors, such as:
  • Cost and ROI
  • User experience and adoption
  • Customer support and training
  • Data security and compliance
  • Scalability and growth potential

What questions should I ask in my RFP?

Don't be afraid to ask tough questions! Your RFP should include prompts like:

• How does your solution drive growth and efficiency?
• What does your implementation process look like?
• Can you share customer success stories and references?
• What's your product roadmap and vision for the future?

Set Clear Submission Guidelines Make sure vendors know exactly what you expect from their proposals, including:

• Deadline for submissions
• Proposal format and length requirements
• Contact information for questions and clarification

RFP requirements by company size

Just like every CPG brand is unique, so are their RFP requirements. The size and specific needs of your company can significantly impact what you should include in your RFP.

Let's break it down:

Smaller Startups

If you're a lean CPG brand just starting out, your RFP might focus on:

• Affordable pricing and flexible contract terms
• Easy implementation and onboarding
• All-in-one, straightforward features (basic trade planning, budgeting, and analysis)
• Scalability as your brand grows and evolves

Example requirements:

• Cloud-based solution with per-user pricing
• Intuitive interface with minimal training needed
• Rapid implementation and data migration
• Ability to accommodate increasing SKUs, promotions, and data volumes over time

Midsized Contenders

As your brand gains traction, your RFP should start to prioritize:

• Robust functionality across planning, execution, and evaluation
• Seamless integration with your existing tech stack (ERP, CRM, etc.)
• Advanced analytics and reporting for data-driven decisions
• Role-based access control and collaboration features

Example requirements could include:

• Comprehensive trade promotion lifecycle management
• Real-time data syncing with SAP or Oracle ERP
• Customizable dashboards and ad hoc reporting
• Ability to handle complex promotional mechanics and overlapping events

Enterprise Powerhouses

For large, established brands, your RFP should cover:

• Global capabilities and support for multiple markets, currencies, languages
• Extensive customization and configuration options
• Proven track record of successful enterprise deployments
• Stringent security, compliance, and data governance protocols

Example requirements could include:

• Ability to manage promotions across 50+ countries and 100+ retailers
• Custom KPI tracking and alerting for brand-specific metrics
• SOC 2 Type II certification and role-based data access controls
• Dedicated customer success manager and 24/7 global support
• Of course, these are just general guidelines – your specific RFP should be tailored to your brand's unique goals, challenges, and growth trajectory. The key is to be clear, comprehensive, and forward-thinking in your requirements gathering.

Remember – a great RFP not only helps you find the right TPM partner but also sets the stage for a successful, long-term relationship. So don't be afraid to get specific!

RFP Template

Now, let's put it all together with an example RFP template.

[Your Company Name] Request for Proposal: Trade Promotion Management Solution

1. Introduction: A brief overview of your company and why you're seeking a TPM solution
2. Goals and Objectives: List your top 3-5 goals for implementing a TPM solution
3. Requirements: Outline your must-have features and capabilities, broken down by category (e.g., data integration, planning, analytics)
4. Evaluation Criteria: Explain how you will evaluate proposals based on factors like cost, user experience, customer support, security, and scalability
5. Questions for Vendors: List 5-10 specific questions you want vendors to address in their proposals
6. Submission Guidelines: Provide clear instructions for submitting proposals, including deadlines, formats, and contact information

Remember – finding your perfect TPM match can take time and effort. But with a well-crafted RFP, you'll be one step closer to finding the perfect trade promotion management solution for you.

Need some expert guidance on your TPM journey? Give us a shout – we're always happy to answer questions, share best practices, and make recommendations.