Why an understanding of consumer’s behaviour is crucial for FMCGs
The FMCG industry is a very competitive field pressured by the internet and now a pandemic era which speeded up the distribution and lowered the price. It is often hard for FMCGs to track behavioural data of their consumers.
CDP offers detailed tracking of either a single consumer or household as a unit. It is crucial for FMCGs to analyze data about their own consumers to determine business progression and create a better CX to ensure the loyalty of consumers.
This is how Single Customer View feels like for FMCGs
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Complexity of distribution channels
Traditionally FMCG brands were dominantly sold in brick-and-mortar retail stores ranging from supermarkets to convenience stores. This space is going through dramatic digitalization in recent years and the number of distribution channels is increasing – online market space, D2C (direct to consumer), brand directly branching to e-commerce.
Non-existing customer data
FMCG is usually missing the information about the distribution and purchase, then lacking the foundation data other industries have. Then they have to rely on third-party data acquisitions, which brings other quality, security, ethics and other difficulties – CDP solves this problem.
Brands who live in silos
Most FMCGs manage a range of products and brands which can cover a consumer from the crib to the old age – yet, these brands are usually managed individually, which create silos, inability to share data or leverage any customer insights. CDP safely allows multiple internal and external teams to distribute the data to understand its customers.
You don’t need external marketing research to understand
your customers
Once you have your own first-party data, you don’t need external help to understand what your customers need. Save your budget for the right marketing actions.
Business Problem
Launching a new brand is a carefully prepared plan often based on guesses and predictive skills of the internal team. With all the relevant data from other brands, planning of launching is easy. Your team can operate with insights of your consumers and use them to create a bullet-proof marketing strategy.
Solution
Meiro CDP offers different account access to your teams or external partners. FCMGs have absolute control of their data and campaigns. The data is safe and can be used by other parties while complying with strict safety policy.
Benefit
Meiro increases the match rate of the customer data by 20 %. FMCGs are more successful at launching new brands and save money using their own valuable data. The results bring better campaign performance, top customer experience and build up customer loyalty.
