Using data and analytics, CPG brands can project and respond to changing buyer demographics and resist rapid market changes. The entire CPG industry works on data demonstrating where the products are sold, the remaining items on in-store shelves, the units being moved, and more.
CPG data analytics includes data collection and analyzing it before turning it into useful information to identify trends. Here’s how CPG marketers can get this data.
Direct-to-consumer programs allow CPG brands and manufacturers to sell and promote their products to consumers without retailers directly. These brands generally market and sell their goods through online platforms. Moreover, they can rapidly respond to customer feedback and gather first-party consumer data that helps CPG marketers make new business decisions.
Working With Data Vendors
The advertising industry involves several data companies determined to sell to marketers. Though buying and selling information on consumers can get pricey sometimes, this is a quick way to resolve data problems for CPG marketers.
CPG marketers often consider partnering with data vendors working on panel data, retail analytics, point of sale and loyalty card data, and audience targeting.
Digital Advertising Data
CPG brands invested approximately $12.8 billion in online advertisements in 2020 in the US. This represents 8.5% of the total amount invested in digital advertising this year. If mined accurately, the data from this advertisement can be used by CPG marketers to understand consumer behavior.
Search advertising helps reach interested consumers, while social advertising allows granular targeting of customers based on factors such as behaviors, interests, geography, and demographics.
Partnering with Online Retailers
Offline retailers develop relationships with end consumers, while online retailers interact with consumers in the digital world. A consumer visiting the e-commerce store allows CPG marketers to improve their product marketing strategies. Each search shows consumer preferences while helping CPG marketers understand what’s trending.
Working with the right CPG & Natural Products Sales outsourcing agency can easily ensure successful outcomes for your CPG brand. Schedule a consultation with our team to learn more about our CPG Business Sales Management Services to generate optimal sales.