Consumer products companies pioneered traditional advertising with
the creation of radio, TV, print and out-of-home ads. These companies
invested in all the right places, focused on consumer insights and
became experts at building brands that consumers love.
However, digital marketing—and mobile and social channels—has
altered the playing field for consumer products brands. Understanding
what drives consumption and shopping behavior is now key to
maintaining and growing market share. Most consumer products
companies have historically relied on consumer data from their trade
partners—retailers and other third parties. However, this relationship is
changing with the shift to multichannel sales, which produces data
about today’s always-connected, heavily informed consumer.
To drive loyalty and brand enthusiasm in this environment, consumer
products companies need the ability to foster one-to-one engagement
through more personalized communications and timely, relevant offers.
It is difficult to accurately measure the return on investment (ROI) of
campaigns and overall marketing spend without integrating data from
many sources, and then applying the appropriate analytics tools and
skills to make sense of it. These challenges have made it tough for some
consumer products brands to invest sufficiently in digital marketing.