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Marketing Strategies to Increase CPG Sales

CPG brands need to leverage their customer databases and other owned marketing assets to deliver targeted, relevant experiences and ultimately increase sales and ROI.

Brands often think that the best way to drive sales is to create and distribute a number of coupons for customers and non-customers alike. Although free standing inserts, or coupons, can drive engagement short-term, it does not generate any meaningful data of a customer’s path to purchase, or gather any intelligence or insights into consumer preferences. If marketers focused on understanding what customers buy, what they won’t buy, and how they want to be reached, marketers can expose customers to special offers and merchandise at the right time for that customer and drive sales in a more effective and efficient way.

  • 47% of U.S. and European consumers will abandon a brand if it repeatedly provides “poor, impersonal or frustrating” customer experiences (CMO Council)
  • 21% of shoppers are more likely to purchase again from brands that do more to personalize their digital experience than those that do not, and 17% are more loyal (Episerver)

Consumer-marketing solutions is a very big category that includes technology agency services and other forms of capabilities to help big consumer marketing companies engage their consumers as well as their potential customers more effectively, and thus, increase CPG sales.

Optimizing Promotional Offers with Behavioral Testing to Drive Sales

Another example of consumer behavior marketing would be advanced testing of the components of a message or promotional offer, such to determine which combinations of variables lead to a higher response among customer segments. For example, a typical promotional offer has at least 5 components that can be tested simultaneously. With hundreds of permutations, digital multi-variate testing can ascertain which combinations of variables resonate best with specific customers. With that insight available, marketers can execute targeted marketing, advertising or promotional campaigns with the optimal message, creative and offer that will drive the best conversion rates and increase sales for CPG brands.

Example of Multivariate Testing:

cpg sales

Testable Hypotheses:

cpg sales

Interested in more ways to execute effective continuity marketing programs?

RevTrax’s suite of tools for coupon creation, optimization, and analysis can help CPG brands gain meaningful analytics from marketing campaigns and measure ROI efficiently.

Unlike a traditional couponing service, RevTrax’s serialized barcodes connect your consumer’s online behaviors to offline purchases, allow you to optimize your brand’s investments, and build customer loyalty by providing:

  • Online-to-Offline Analytics - Connect online behaviors to sales at any retailer.
  • Personalized Offers - The right offer, right consumer, right time.
  • Offer Testing - Learn which creative and price works best.
  • Robust Security - Minimize fraud and ensure campaign security.
  • Expertise & Service - Flawless execution and industry experience.

Using a solution like RevTrax, brands can begin to connect digital behaviors to actual purchase. When activated, RevTrax smart offers are coded with key elements of each consumer’s journey, like which campaign or site they are coming from, their DMP audience segment, and which creative they were served. When a customer completes the purchase, retailer transaction data is captured via the manufacturer clearing process, and the marketing team can gather insights that are specific to both the consumer and to the promotion.

If you are interested in discussing how consumer behavior marketing and testing strategies can be leveraged to improve promotional and media ROI performance, please contact us today. Our teams partner with forward-thinking marketers like you to bring strategic thinking and digital innovation that build the type of customer relationships that empower meaningful growth.

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Source: https://blog.accessdevelopment.com/customer-loyalty-statistics-2017-edition

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