Consumer packaged goods (CPG) industry paper
This paper focuses on consumer packaged goods (CPG) industry insights and best practices.
- Existing customers are 4X more likely to purchase than prospects.
- Loyalty program can improve customer satisfaction by 25%
- Behavior-based triggered segmentation drive 2x/3x higher response rates
- Campaign optimization can lead to double digit increase in campaign ROI
- Campaign personalization can lead to 6X increase in campaign performance
Industry Best Practices
- Focus on CX – how consumers engage with you, their buying journey and touchpoints
- Targeted, personalized experiences are created based on a deep understanding of customer personas
- Omni-channel, integrated experiences provide double digit increase in responses
- Engagement plan needs to be “Mobile-first”
- Short videos have the highest engagement rates across all content types
- Loyalty programs and retention activities drive 20-30% uplift in revenue
- Respect customer privacy, and comply with privacy rules in different markets
Customer Experience Management
- Awareness & Consideration: Persona development, search optimization, social media engagement, media targeting & optimization.
- Engage & Influence: Influencer marketing, peer review, remarketing, search optimization, social media engagement & trial promotions.
- Purchase & Transaction: Online merchandising, in-store digital display/promotion, location based promotion, promotion personalization & chatbot.
- Nurture & Re-engage: Welcome/onboarding campaign, NPS campaign, customer delight experiences.
- Loyalty & Advocacy: Churn management, loyalty programs, upsell and cross-sell promotions.
Key Marketing Initiatives
- SEARCH: Search strategy should align with the stages in the customer journey. Search retargeting can provide a substantial uplift to campaign response rates.
- WEBSITE/MICROSITE: Sites play an important role as the hub of customer engagements. Web traffic analysis can provide deep insights while LP optimization can provide significant uplifts to campaigns numbers.
- SOCIAL: Integrated organic and paidsocial media marketing, including social retargetingneeds to be included in a campaign, especially for prospect acquisition.
- ECOMMERCE: Optimization of ecommerce sites and use of triggered, personalized remarketing campaigns based on behaviour on these sites are hugely important in effective customer engagement.
- DISPLAY: Display Ads, powered by DMP, allow marketers to deliver powerful experiences by combining personalized messages through their preferred channels.
- IN-STORE: Cross-channel purchase tracking and engagement using in-store options and location based targeting are important.
- MOBILE: Mobile has become the default channel of internet access, so our digital strategy needs to be mobile first.
- EMAIL: Email can be used as a powerful real-time personalized channel of communication.
- AI: AI can be used to power various facets, including targeting, content, campaign optimization and engagement channels like chatbot.