Consumer packaged goods (CPG) brands have learned a hard lesson in recent years—you can’t just look at your own industry to benchmark your customer experience anymore. Digital disruptors like Netflix and Amazon have trained consumers to expect individualized and relevant recommendations at every turn.
While CPGs have not focused heavily on consumer engagement, instead leaving it to the retailers they work with, rising consumer expectations for personalized experiences with their everyday brands pose a challenge for CPG brands who have historically relied on mass-reach media to grow their brands.
Consumers want to have an engaging relationship with the brands they trust—they don’t want to be blanketed with the same message their mothers get. CPGs need to activate their own wealth of data and look at the direct-to-consumer approach. For consumers, experience with the brand is an important selling point. Forbes reports, “if your experience is more meaningful and emotionally impactful than your competitors’, it will win over customers regardless of price—PWC found that buyers will actually pay up to 16% more for a better customer experience.”
Competing with relevant and personalized digital experiences, CPGs now struggle to break through and maintain relevance with consumers. Many CPGs have focused their digital ad spend on walled gardens, only to be left with ambiguous metrics that don’t clearly articulate the value of their ad spend or prove whether or not their target audience is actually listening. P&G’s Marc Prichard spotlighted the enormity of the problem by cutting $200M in digital ad spend from their media in 2018, once they realized their ads were not reaching their target audience effectively.
Today’s consumer expects experiences to be seamless across any media or platform with which they engage. Learn more on how CPGs can harness the power of data connectivity to deliver personalized experiences at scale, including some quick steps to break through the complexity of omnichannel reality for an immediate impact.