Here are top plays that must be included in an FMCG marketing strategy for improved sales flow.
Fast Moving Consumer Goods (FMCG) enterprises today have a boatload of shares for digital marketing. However, most of them lack the resources and strategy to ride this wave. As a result, they fail to get the ROI they anticipate. Experts believe that their FMCG marketing strategy lacks execution, data quality, and efficiency. Digital Marketing for the FMCG sector requires a fundamental shift.
FMCG Digital marketing enables FMCG brands to connect with buyers through online platforms like websites, social media platforms, mobile apps, etc. It includes several online marketing techniques to build brand awareness and position the business at the forefront. Unlike conventional forms of marketing, online marketing cannot be put on the shelf – It needs dedicated and continued efforts. FMCG brands need to create content that resonates with the customer-centric needs, creates the emotional response for buyer allegiance, and urges them to make purchase decisions. Success with modern-day marketing comes from innovation and the ability of the FMCG brands to take down formidable new challenges. Marketing in the era of high-tech customer relationships requires tact.
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For several decades, FMCG enterprises have leaned on traditional marketing methods. However, the legacy perspective saw changes when the world took a digital turn. Digital marketing is now an essential need to drive business ahead. In addition, the global pandemic has further changed the equation by further accelerating this trend. However, many FMCG enterprises are still struggling to factor digital in their sales and marketing processes. Here are some top challenges that FMCG enterprises face on the path to digital marketing:
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Dwindling Customer Loyalty:
Today’s customers are more empowered customers. They have more information and options. Because of this, they don’t hesitate to shift their brand allegiance. The behavioral shift is seriously jeopardising the marketing and sales tactics of the FMCG brands. Behavioral experts believe that the global pandemic has further accelerated changes in customer preferences.
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Stifling Competition:
There is stifling competition in the FMCG sector, and customers have more options before them. There are not only big technology behemoths but also direct-to-customer competitors. As a result, the shelf space in stores is also decreasing in retail stores. FMCG brands have to continuously prove their value and profitability to customers.
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Shrinking Marketing Budgets:
Another relevant problem before FMCG players is that their budgets are shrinking. FMCG players need to market their brand smartly and by measuring the ROI of spend at every turn. They now have to prove the ROI of every singe click and view of their digital marketing campaigns. Moreover, the budgets are typically lean, and scaling the reach is always a big struggle.
The key to a productive FMCG digital marketing program is comprehensive planning. FMCG players should create a detailed game plan to understand processes and improve them over time. Here are some innovative ways that FMCG players can adopt to stay on top of the game:
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Reinforcing brand values:
According to behavioral experts, brands now have the important task of surprising and delighting customers. FMCG brands should create new experiences and spark intense consumer reactions. For example, Beyond Meat, a plant-based meat manufacturer, started delivering professionally prepared food to hospitals and other communities for free. By doing this, the organisation demonstrated ease and safety and improved its consumers’ first time experience. Others can replicate the strategy. A small ‘Thank You Note’ or free sample can really help brands in developing a positive experience with customers.
Similarly, brands can add a contextual cue in their brand messaging to shape the habits of their customers. A contextual cue can be a particular task, or object placement that can be sustained as a habit. New sustainable habits can align marketing messages with the consumer mindset and strike the right tone of communication.
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Creating Stellar Social Media Presence:
FMCG organisations need to take social media interactions really seriously. Social listening & Social media marketing can help FMCG enterprises in building sustainable connections with the audience. The key is identifying the relevant social channel which can take them closer to the target audience. Brands like Pepsi and Coke are doing this successfully, they are using quirky marketing messages to foster connections with the young audience.
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Creating ROI-driven Campaigns:
Successful marketing is a teamwork, and it needs to be measured and optimised at every turn. Enterprises should have the ability to keep a continuous tab on marketing campaigns and avoid marketing waste. Smarter FMCG organizations use an integrated marketing strategy to get a 360-degree view of their outreach initiatives on all channels and prevent unnecessary expenses before they grow big and snowball. Integrated marketing campaigns breakdown silos, deliver a single & unified customer experience at all channels, optimize marketing cost, and orchestrate outreach for the maximum yield.
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Leveraging Data
Enterprises should base their marketing on sales intelligence covering consumer beliefs and emotional needs. A comprehensive database can allow enterprises to simplify this part by delivering a clear picture of the consumer decision journey. The right b2b database illuminates insights and lets organisations identify and analyse different factors affecting consumer behaviour. Enterprises can take cues from this and personalise & refine marketing messages.
Conclusion
FMCG companies now have a pressing need to position products before buyers, and FMCG digital marketing is a primary means of doing this. However, digital marketing is a very noisy space. From a Digital marketing expert’s point of view, understanding the underlying trends is helpful and valuable. Most successful FMCG enterprises spend their time in optimization, execution, and compliance. Others who stay behind lack an overall strategy to set up a digital marketing team and win in the marketplace.
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