Until recent years, brick-and-mortar businesses in the U.S and beyond could count on consistent revenue from steady sales of consumer-packaged goods (CPGs) at their stores. Consumers would happily walk into these physical stores and shop for their everyday consumable products.
However, with the growth of online shopping and increased competition in the marketplace, retailers have had to pivot and adapt their strategies to stay relevant during the modern retail apocalypse. In today’s ever-changing digital world and crowded marketplace, CPG manufacturers, retail chains, and online merchants can no longer only compete on price.
Any digital marketing agency that specializes in food industry ecommerce sites, understands consumers have become omnichannel shoppers and are increasingly looking for convenient service options and a seamless shopping experience. As such, if you are to succeed, you must not only be where your customers are but also effectively engage them to increase sales. Here are the top five strategies you can utilize to set yourself apart in the CPG industry and boost sales:
Embrace the Omnichannel Experience
You can’t succeed in the consumer-packaged goods market if you aren’t providing your customers with a fully unified experience across every touchpoint. This is what it means to operate an omnichannel strategy. A consumer interacts with your brand both offline in your physical store and digitally on your e-commerce site. And regardless of their location, they expect consistency in their shopping experience. In other words, there shouldn’t be any difference between a customer’s online and in-store shopping experience.
As a retailer, you want to capture traditional shoppers who want to come to shop from your physical store and the rising population of consumers who prefer ordering all their products online. Make sure your consumers can view your products online and have real-time options for shipping items to their location or picking them up in-store.
Offer a Subscription Model to Increase Conversions and Sales
Online retailers are increasingly adopting subscription models to not only enrich and streamline their consumers’ purchase process but also keep a consistent and steady form of revenue from online sales. Offering a subscription model can help your customers save time and money. Furthermore, it reduces the effort consumers need to put in to remember to purchase CPG products. They need to rest assured they’ll receive their goods in a convenient and timely manner without any complications.
Subscription models are a powerful tool that can help you reduce the cost of sale while increasing conversions and sales. However, you must commit to offering high-quality consumable goods and a seamless end-to-end experience if you want to connect with your customers and keep them aboard.
Build Loyal Relationships with Your Customers
With the rise of social media platforms, store-based and online retailers have a direct line to consumers and vise versa. You’ve probably already come across customers who use their social media pages to promote products they love or even share their hate for a brand.
Genuinely connect with your target audience by establishing direct consumer relationships on social media sites and creating content around what they want. By doing so, you’ll get insights into individual consumer preferences and needs and gain a strategic advantage of businesses and brands that do not.
Harness the Power of Data
The power of data in online shopping is enormous. Gone are the days when retailers could make business decisions based on their gut feeling. As consumers increasingly move to digital and social platforms, retailers and CPG companies have to harness the power of data to gain insights that can inform their decision-making process.
As an online retailer, you can offer incentives and rewards that help capture customer data and information to promote a product later in the pipeline. Customer data can also help you regenerate shopper personas in all your major locations within a specified period to understand changes in consumer preferences, how different products were sold, and if there’s a need to adjust prices.
Focus on Promoting Your Best Brands
The average online retailer may have dozens of CPG products under their business. And while it’s possible to equally promote and market each and every brand in your business, you may not have enough time and resources to achieve that. Furthermore, there will be nothing that gives your brand relevancy and recognition in the market.
Instead, choose your strongest brands and focus all your efforts on promoting them. Your goal should be to establish a strong digital presence and develop marketing campaigns that will help boost your brand recognition. You should also take time to create high-quality content that your consumers want to promote these brands. Establish a consistent brand identity by sharing authentic stories and company values in all the different aspects of your CPG products. This will not only increase brand awareness but also boost customer loyalty and grow your business.