CPG 101: Creating CPG Insights with Marketing Data
The consumer packed goods (CPG) experience is going digital in 2023, which means brands most likely need to revisit their online strategies. Conversions depend on four key CPG insights: customer expectations, the omnichannel shopping experience, a competitive landscape, and strong data and technology. At DEFINITION 6, we find creative solutions to improve these insights based on existing marketing data.
Before diving into the four CPG insights, it helps to understand why they are important. When the pandemic hit, CPG companies sought ways to engage their digital audiences. The brands that survived accomplished this through value-driven technology: predictive growth models using AI and cloud-powered analytics to understand consumer behavior, a seamless shopping journey connecting brick-and-mortar establishments to their online stores, personalized customer services like coupons and rewards, and immersive shopping opportunities. These brands tailored their strategies to create a new, better-suited experience, making themselves marketable to their digital audiences. They not only survived, but thrived.
We help CPG brands build on their four insights with the data drawn from the tactics above, keeping them current and competitive. Consumers have become accustomed to fast and convenient delivery on purchases and expect it to continue. To continue to grow and keep up with these new expectations, CPG brands need to lean into their digital services. An omnichannel shopping experience can support this. Recent data shows 75% of CPG shoppers use digital channels to get inspired, conduct research, or choose a brand to shop with. Setting up omnichannel shopping allows for a seamless shopping experience, making it easy for customers to purchase and less likely to abandon their shopping cart. Competitive expansion and data/technology are other key CPG insights worth leveraging. Our creative solutions help companies expand their digital channels to accelerate growth, using existing data to identify and deepen customer touchpoints with engaging technology. More specifically, our analytics team conducts channel analyses, conversion optimizations, and lifecycle segmentations, to best suit those needs and solutions. Contact us to learn more about how we’re helping CPG brands expand in 2023.