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  • admin 9:56 am on July 6, 2015 Permalink
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    The Consumer Products SEAMLESS Consumer Experience 

    CPG CRMWhen a consumer isn’t happy with the product she just bought, where does she go to complain or ask for help? She might go back to the store, or call the manufacturer or the retailer, and she might go to the manufacturer’s web site. But more than likely, she’ll hop on Facebook or Twitter to vent her frustration, where all of her friends and followers will hear about her problem and perhaps share their own experiences with the same or similar products.

    In the best-case scenario, the manufacturer will know about this conversation and use the opportunity to weigh-in with the appropriate customer support and marketing responses. But too often, these kinds of conversations end up defining the brand for consumers without the manufacturer participating or even knowing that it’s happening.

    This situation illustrates a central dilemma facing manufacturers as they attempt to move toward data-driven marketing: How can they capture data from a wide variety of online and offline sources (including the web, email, social media, and mobile and text), analyze it, and then create highly personalized messages to targeted consumers — and deliver those messages at the right time and at the right touch point?

    Making it even more challenging for manufacturers, this process involves product lines across the company supported by departments and systems ranging from marketing and technology to customer service and product development – all of which are standalone and not integrated.

    Trends and Pain Points

    Traditionally, CG manufacturers focused their brand marketing and consumer interaction on mass media. In the age of the connected consumer, however, that’s no longer enough. To fully engage consumers in the age of connected shopping, manufacturers must capture and analyze data across a variety of sources and optimize interactions across a multitude of communications channels.

    It’s critical to recognize that consumers now research and discuss brands among themselves with or without manufacturer participation, establishing brand meaning and value independent of ad agencies, campaigns, and mass media.

    This creates a vastly more complex consumer path-to-purchase. Historically, the process centered on three simple steps:

    1) See an advertisement
    2) Visit the nearest store
    3) Buy the product if it is in stock

    In the digital world where shopping begins on a smartphone or connected device:
    1) See an advertisement
    2) Check out online reviews
    3) Poll friends through social media
    4) Compare features among similar products at brand Web sites
    5) Check prices online at retailer Web sites
    6) Search for coupons or promotions
    7) Buy a product online or in store

    Fortunately, emerging big data tools and techniques make it possible to collect, track, analyze, and optimize the huge amount of structured and unstructured information created by these new relationships. Access to detailed consumer data can be a huge asset for manufacturing companies, but understanding and optimizing the data and the complex communications remains challenging.

    Consumer communication now occurs simultaneously in multiple media channels, including social, mobile, email, and text, which generate a variety of data that must be managed in real time, while relevant. Record levels of media saturation — experts estimate that consumers now see thousands of marketing messages every day — mean manufacturers must deliver tailored messages in the right format at the right time to consumers.

    These communications can affect an entire manufacturing company, from marketing to customer service. Traditional consumer-insight tools (panels, surveys, syndicated data, and one-time promotions) can’t keep up, and most manufacturers don’t have the technical capabilities to efficiently capture, integrate, and use these integrated consumer insights to gain a complete view of their consumers.

    That’s why manufacturers are struggling to establish scalable and personal connections with consumers based on accrued insights from all relevant data sources. And it’s why a leading analyst firm estimates that by 2017, marketing executives will spend more on technology than will technology executives.

    Three-Step Solution

    By 2016, according to a leading analyst firm, companies that develop an integrated marketing management strategy to meet customers’ expectations will deliver a 50 percent higher return on marketing investment than those that don’t. Because their social media and digital marketing efforts are not fully integrated and optimized, it should be no surprise that many brands are not yet seeing the sales gains they might expect. Developing an integrated approach consists of three important steps:

    1. Be aware of all the myriad data sources, offline and online, that affect a manufacturer’s brands and products. That includes individual identity data, behavioral data (location, purchase history, call-center transcripts, etc.), derived data (credit scores, personas, influence scores, etc.), and self-identified data (purchase intent, social media likes, user-generated content, etc.).
    2. Analyze gathered information with big data techniques and tools. Forrester Research says more than 45 percent of current big data deployments are for marketing, and marketers are expected to spend 60 percent more on analytics solutions in the next three years. The goal is to understand how the different channels interact and then put it all together to build an accurate and complete picture of current consumer behavior.
    3. Drive action from the data analysis. With data-driven marketing, manufacturers can join the conversation when consumers talk about their brands, their products, and industries. These kinds of personalized dialogs can help capture consumer mindshare, spurring them to action and converting them into loyal shoppers and brand champions. More broadly, it enables making coordinated business decisions to boost marketing effectiveness, customer satisfaction, and, ultimately, sales.

    The New World of Consumer Packaged Goods

    In an industry plagued by slow growth, private-label competition, increased commodity costs, and a lack of innovation, CG manufacturers must rethink the definition of successful marketing. In the old days, 80 percent of purchase decisions could be influenced in-store—but not anymore. Despite a huge increase in trade promotion expenses, consumers are now an estimated 80 percent confident in their shopping list before they enter the store.

    Getting on that list starts well before the first moment of truth–the instant when a shopper traditionally makes his or her purchase while standing in the store aisle. Savvy manufacturers who want to get on those lists need to own what Google calls the zero moment of truth, when consumers make their choices online before venturing out to the store. So they’re adding email campaigns, brand Web sites, text-message promotions, mobile applications, and social media to marketing mainstays such as coupons, packaging, shelf position, endcaps, freestanding inserts, and television and print advertising.

    But making all that work at scale requires a unified, consumer-centric approach to creating and nurturing individual relationships. That means executing dialog strategies, not just sending out isolated mailings. Optimizing a dialog strategy requires coordinating all the touch points, as follows, to create and send personalized messaging that accounts for multiple consumer situations and responses:

    1. Consumers entering the campaign at different times
    2. Consumers progressing through the dialog at their own pace via different routes, based on their particular needs and preferences
    3. Consumers responding to each step, not in waves determined by pre-programming

    By capturing and analyzing the millions of consumer interactions that would not otherwise become part of the manufacturer’s institutional knowledge, manufacturers now have the opportunity to take advantage of game-changing integrated consumer insights to affect individual consumer outcomes.

    The post The Consumer Products SEAMLESS Consumer Experience appeared first on Industry Experts.

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