2 Tips for Data-Driven CPG Customer Satisfaction
Over the years, Precisely has had the honor of partnering with some of the largest, most prestigious consumer packaged goods (CPG) brands in the world.
A common need that our teams help these businesses tackle, is the early challenge of rallying executive support for investments in data – followed by an initial sprint of establishing a data operating model to demonstrate that value.
Why is this demand for data so critical? In more recent years, we’ve watched CPG customers become savvier and increasingly invested in the processes behind the products that they consider spending their hard-earned dollars on.
Data opens the door to new opportunities and levels of consumer satisfaction and trust – but only when utilized properly. Achieving transformation like this may seem like an overwhelming undertaking, but today I want to boil it down to the two biggest takeaways I’ve learned through working with companies in this sector:
1. Don’t stop innovating
Our world is changing at an exponential pace and in today’s digital economy, data has quickly become one of the most important assets to an organization. And while I’m far from the first person to point out the need to treat your data as an asset, I want to advance that mantra a bit further.
In CPG, data isn’t just an asset – it’s literally become one of the most important competitive advantages for strongly performing enterprises. That’s why winning organizations don’t remain stagnant – they consistently innovate to maximize the value of their data. Continued innovation means stronger brand reputation among your peers as well as the consumers you rely on to keep your business afloat.
Read our Whitepaper
This whitepaper explores five steps for consumer packaged goods organizations that can be taken toward development of optimized real-time systems, each of which will deliver real business impact along the way.
2. Win over CPG customers with transparency
CPG and food & beverage organizations are particularly impacted by consumers’ growing standards and transparency demands for both the products themselves, and the sourcing and manufacturing practices behind them.
And thanks to countless social media channels and outlets to post product reviews, CPG customers are increasingly informed and influential to the broader market – more than they ever have been before. As a result, it’s no longer enough to simply have good product manufacturing principles, practices, and reputation – it’s also about connections.
Consumers expect a higher degree of digital relationships with brands, where they can consistently see data-driven proof of responsible ingredient sourcing, manufacturing, and packaging processes.
With this real-time feedback loop across the globe, some might argue that consumers themselves have become the largest “outsourced marketing” behemoth there is! So, be sure to effectively harness that data at your disposal and show CPG customers what your products, and your brand, are made of.
Have you or your organization made great strides or learned important lessons on how to harness this trend of digital consumer power? What are the specific victories achieved and challenges faced along the way?
Read our whitepaper 5 Steps to Prepare for Digital Transformation which explores five steps for consumer packaged goods organizations that can be taken toward development of optimized real-time systems, each of which will deliver real business impact along the way.