Every CPG brand today is looking for growth. The good news? It’s within reach – especially when brands find the right partners that can give them a complete view of their consumer.
Retailers have a direct line to today’s shoppers. And when brands and retailers collaborate through data insights, everyone wins: categories grow, campaigns perform, and connections with consumers deepen. As Kevin Dunn, Head of Retail CPG at LiveRamp, puts it: “The sooner you start that journey, the faster you’ll see growth.”
Watch this episode of Here’s the Deal to hear more from Kevin about how tapping into retailer data can set your brand up for smarter, faster success.
There’s no brand today that has the data they need to fuel the growth that’s expected of them. My name is Kevin Dunn. I lead Retail CPG at LiveRamp. Here’s the deal.
In most cases, brands don’t have direct access to consumers like their retail partners do.
And they need to change that equation so they can provide their consumers with the right messages at the right time. They need to work with their retail partners to gain those insights – to understand how they drove category growth. How’d they bring new shoppers to their brand? And how do they continue to engage them to become repeat shoppers? So, what you need to do is work with your retail partners.
Get them to set up data in a manner that lets you ask questions about that data. Why is that data important to you? What sort of insights are you looking for from that data? And you want to be able to do it in a way that’s easy for your data scientists and easy for your marketers to leverage.
You want to be able to make reports that show you what’s next, what was the best way, and how the customer bought that product at the retailer. What’s amazing about this dynamic is that retailers know they have this data. They know how to leverage it, and they know how to share it with you. And it drives this mutually beneficial relationship where they’re able to bring more shoppers into their store and provide you with the insights to bring more people to your brand.
This sort of partnership can exist across not one, not two, but three, four, five, six retailers. It can really ensure that you understand your consumer and that you’re bringing them to the right place at the right time.
So, when you’re entering into your partnership conversations, ensure that you’re not just thinking about shelf space or the digital interactions you’re going to have with consumers, but how am I going to get the data I need to ensure that the in-store and digital experiences are seamless? How am I going to continue to enrich that retailer dataset?
And, maybe, I do have some of my own data. How am I going to bring that to the table to then start interacting with my consumer directly? Selling them adjacent products, bringing them back for multiple sales within a year, or selling them other premium products throughout their journey with your brand. The opportunity to have this direct relationship with your consumer creates enormous potential not only for today, but for years to come.
The time to start that journey is now. The sooner you do it, the faster you’ll see growth.
