As the business world crawls back to normalcy, it’s time for CPG companies to revamp their social media listening strategy. The crisis undoubtedly has opened up new, untapped opportunities to proactively innovate and find new ways to add value to your customers. Additionally, the rapid changes in market dynamics driven by technological improvements and socio-economic changes have prompted CPG companies to rethink their marketing strategies and devise better strategies to connect with customers. Changes in buyer demographics, increasing online product research, and uncertainties about product shelf space have all impacted the relationship between businesses and their customer base.
Today, we witness many CPG companies upping the game as far as a digital strategy creation is considered. In line with these developments, one of the most commendable implementations made by companies encompasses the use of this tool to best practices. It has empowered businesses to closely monitor and track customer behavior and leverage data to extract insights they wouldn’t have access to otherwise.
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Request a free demo7 Best Practices Checklist for CPG Brands
With modern CPG brands making massive headway in terms of growth from their analytics investments, we’ve curated a best practices checklist that have helped these reputable brands to stay ahead of the curve when it comes to acquiring and retaining customers.
1 Start from Square One by Analyzing the Customer Purchase Funnel
We hear time and again that listening to customers is crucial to driving higher returns from your products, it could not be truer when it comes to CPG. Notably, leading CPG brands are analytics-focused and use social media platforms to create true brand value and not just promote products. They go a step ahead of their peers by leveraging this tool to analyze customer intent, purchase behavior, and brand sentiment to ensure they target potential customers. Using best practices has helped many such leading brands to capture customer sentiments and build predictive attrition models that are aligned with customer requirements.
2 Use Social Media Platforms to Set New Trends and Connect with Customers
It isn’t surprising that most CPG brands have more of a marketing-oriented, pragmatic vision when it comes to using social listening. However, true market leaders understand that social media is more than just a channel to generate sales and drive margins. This has prompted more CPG brands to leverage social media listening to set new trends and connect with customers on a more personal level. Real-world use cases of this tool have helped us gain insights into how CPG market leaders are using social listening platforms to start new campaigns and launch new products that align with customer needs.
3 Leverage Social Listening to Understand the ‘New Normal’
Categorizing customers based on their behavior and purchase intent is a common application of this tool, but unless you have a baseline social listening framework to work from, it can be challenging. Amid the crisis, leading CPG brands have been using social media listening to understand the ‘new normal’ from a customer’s perspective. This had paved the way for new opportunities and developments within CPG. Mainly because a detailed understanding of customer perceptions has helped CPG brands to benchmark performance by establishing what represents the new normal for the organization as a whole.
4 Utilize Advanced Social Listening Tools:
Invest in sophisticated social listening tools that can analyze vast amounts of data across multiple platforms. These tools can provide valuable insights into consumer sentiment, emerging trends, and competitor activities. Platforms like Brandwatch, Hootsuite, and Sprout Social offer robust analytics capabilities that go beyond basic metrics.
5 Implement Data-Driven Content Strategy:
Base content creation on data-driven insights obtained through social listening. Identify trending topics, understand consumer preferences, and tailor content to address specific needs and concerns. A data-driven approach ensures that CPG brands stay relevant and resonate with their target audience.
6 Engage in Collaborative Campaigns:
Foster partnerships not only with influencers but also with other brands in related industries. Collaborative campaigns create a synergy that benefits all parties involved, expanding reach and engagement. For instance, partnering with a health and beauty brand for a joint campaign can attract a diverse audience, enhancing overall brand visibility.
7 Capitalize on User-Generated Content (UGC):
Encourage customers to share their experiences and opinions through user-generated content. UGC not only provides authentic testimonials but also serves as a valuable resource for understanding consumer behavior. Create campaigns, contests, or challenges that prompt followers to generate content related to your products, fostering a sense of community and brand loyalty.
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Request a free pilotWhy social media is Important for CPG Brands?
Social media has become an indispensable tool for Consumer-Packaged Goods (CPG) brands like Proctor & Gamble and others in the industry. The dynamic landscape of social media provides a platform for CPG brands to engage with their audience, build brand awareness, and ultimately acquire customers. Here are three key reasons why it is crucial for CPG brands:
1. Direct Consumer Engagement:
Social media platforms offer CPG brands a direct channel to engage with their target audience. Proactive engagement through comments, messages, and interactive content helps in fostering a sense of community around the brand. This direct interaction allows brands to understand consumer preferences, gather feedback, and address concerns promptly. For example, responding to customer inquiries or feedback on social media humanizes the brand and establishes a connection that goes beyond a transactional relationship.
2. Brand Storytelling and Awareness:
CPG brands leverage social media to tell their unique stories and build a distinctive brand identity. Through creative content and strategic messaging, brands can communicate their values, sustainability efforts, and product innovation, resonating with potential consumers. Platforms like Instagram, TikTok, and Facebook enable visual storytelling, helping brands showcase their products in real-life scenarios and engage followers through captivating visuals and narratives. This storytelling approach not only builds brand awareness but also creates a lasting impression in the minds of consumers.
3. Influencer Marketing and Brand Endorsements:
Influencers play a pivotal role in shaping consumer opinions, and CPG brands are harnessing this influence through strategic partnerships. Collaborating with influencers in the household supplies, food delivery, personal care, and grocery industries amplifies brand visibility. Authentic endorsements and product placements by influencers build trust among their followers, driving potential customers towards CPG brands. This influencer marketing strategy is particularly effective when influencers align with the brand’s values, enhancing the credibility and relatability of the product.
It is vital for CPG brands because it facilitates direct consumer engagement, enables brand storytelling, and provides a platform for influencer marketing. These elements collectively contribute to brand awareness, customer acquisition, and sustained growth in the competitive consumer goods market.
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Start your free trialConclusion
Based on our interaction with CPG market leaders and key decision-makers, it’s quite clear that when it comes to using social media platforms to acquire and retain customers in the CPG industry, innovation, strategic placement, and analytical thinking are key. Hence, CPG companies must up their game by leveraging this tool to carefully monitor current events, set new trends, and analyze customer behavior, which, in turn, can help identify potential customers if implemented into a sound marketing strategy.
