Are your CPGs making you have a VSF (very sad face)? It’s time for a bit of spring cleaning.
Let’s break out the old notebook and focus on what your CPG company needs to soar: effective and innovating marketing strategies.
But with all this new-age technology, it sometimes seems as though you’re marketing to groups who speak completely different languages — literally and figuratively. Just Google “texting acronyms” to see what we mean.
So what’s working? We’ve made the answer easy with these seven strategies that will give your company the wings it needs.
As much as we long to go back several decades to an era when consumers walked into stores and talked to clerks about purchases (and when bacon was much, much cheaper), our technology hasn’t quite gotten to time-machine levels yet.
At present, CPG companies face one of the greatest hurdles history has presented them with: the age of the internet.
Where companies could once count on returning, loyal customers, now they are about as stationary as the frog in the old arcade game Frogger.
When the consumers’ penchant for switching brands is added to new start-ups backed by VCs and endless purchasing options, it’s no wonder CPG company owners feel a tad dust-covered.
But there’s good news. With some work and new additions, any CPG company has the ability to make it to the top.
7 Marketing Strategies for a CPG Company in This Century
If you feel like your CPG sails are slack, these seven marketing strategies are all the rage in 2019. They may give you the burst of wind you need.
1. Sell Across Platforms
As reluctant as many CPG owners are to work with third-party retailers, the times require it. Amazon currently has over 130 million active customers, and it’s integral companies take advantage of this new dynamic.
Fewer and fewer of the individuals from upcoming generations go to stores to make purchases; everything is done online.
Attending to these new needs doesn’t only require stores to sell at physical locations and put together online websites where consumers can shop; it also requires they work with large online retailers, such as Amazon.
By addressing this desire in multiple channels, companies don’t have to choose between selling only through e-tailers or through their stores.
If you feel behind in this area, you’re not alone. A 2018 survey found only 34 percent of influential CPG companies were fully prepared for direct-to-consumer strategies.
2. Create Relationships
Social media is still huge, and it’s a tool every company should continue using.
The key, however, is to wield your social media card with integrity; use the sites to build relationships and to tout your company’s values.
Gen Z prefers Instagram and Snapchat while Millenials prefer Facebook. Have campaigns that use each source for different purposes.
Through the different channels, humanize your company. Tell stories about your day-to-day activities or share behind-the-scenes video footage of what occurs at the store. Push visuals here because, let’s face it, fewer and fewer individuals read.
Most importantly, use social media to interact with your target audience. Speak to consumers, always reply to questions or comments and give followers a voice.
3. Make It Interactive
Encourage interactivity throughout the store and online. Think videos, contests, surveys, referral programs and more to get your audience engaging with the items they bought and your brand.
Interactivity is good for business. It increases brand awareness, forges positive emotions associated with your company and makes consumers feel valued. With social media, encouraging customer interaction is easier than ever.
Don’t forget the hashtag.
If you ever happen to have free time, take a few minutes to spy on your customers as they walk about the store. You’ll notice many of them — in fact, about 60 percent if you’re watching Millenials — take photos of items they purchase.
That’s why it’s important you don’t forget about presentation in-store. Have fun, colorful pop-ups or opportunities for customers to give that fancy new item a whirl.
And think about visual distinctions. If it’s good for a photo, it’s good for advertising.
Read more here to find out what else Millenials look for.
5. Use Data to Increase Revenue
The truth is out there. But it’s not in the form of aliens (Mulder and Scully might disagree).
Instead, it’s through big data. A CPG company has incredible amounts of information at its disposal through data gathering, but if it’s not assessed, it all goes to waste.
Use your store’s data and past studies on other stores to predict what changes are on the horizon. Specifically, use the information to address the four Ps: price, product, promotion, and place.
6. Work With Other Retailers
You don’t have to be in this alone. Use nearby stores to your advantage or even online retailers.
Find a store that complements your services rather than competes with them. Place ads for a specialty tool store in your hardware section. Have business cards for a trusted HVAC company in the home repair aisles.
Buddy up with businesses so that they return the favor. It’s an easy tactic to encourage new customers to come your way.
Don’t forget to make your splash in the community. Not only does it increase brand awareness and demonstrate company values, but it also helps sales.
Younger generations are more likely to purchase from you (even at higher prices) and recommend your business to a friend. You give to society; it gives back to you.
So social responsibility marketing is in, especially for Millenials. If your company has something to say, now is the time to do it.
Three, Two, One . . . Liftoff
Do you feel that? It’s a high wind filling those sails and a gust of air pushing your wings into flight.
But we do offer one last piece of sage advice: know your reputation and continue building upon it.
That’s where our free reputation audit tool comes into handy. Find out where your store stands.
Every CPG company faces the hurdles of today, but keep in mind with change comes opportunity. Although marketing and customer needs might transform, innovative ways of reaching audiences are always on the horizon.
Let’s embrace the winds of change.