Consumers have so many options in every category, and very little brand loyalty when it comes to CPGs. So what can brands do to increase consideration and motivate in-store purchases?
Tried and true strategies rely upon three key components:
1. Promotion: From the Sunday paper’s coupon-filled circulars to online rewards programs, promotions have always been successful in moving the needle. Shopper data can reveal to marketers the promotions that are most meaningful to a brand’s consumers. Some may respond best to gifts with purchase, others to instant rebates. Recent studies have found that many consumers actively search for offers and compare prices while they’re in the store, so location-based mobile offers may be a smart move for brands who experience this phenomenon. Ultimately, brands must decide which promotions are going to both drive sales and drive the behavior they desire most.
2. Content: You’ve heard it before – brands are publishers today. Content marketing is an effective way for brands to differentiate, and to keep consumers informed of new products and innovations. Brands like L’Oreal do a wonderful job via sites like Makeup.com, which is popular on its owned site, as well as on both Pinterest and Facebook. Dove has famously earned worldwide love with its “Real Beauty” campaign; “Real Beauty Sketches” has been viewed over 56 million times since its launch in April of 2013. And Dawn dish soap is gaining greater consideration from animal lovers everywhere with its Dawn Saves Wildlife site, featuring content about how Dawn saves animals affected by oil.
3. Partnerships: Strategic partnerships can also play a role in gaining consideration. Pairing a CPG with another beloved brand can be very effective. Brands like Eucerin have had great success partnering with dermatologists and pediatricians, offering free samples of their gentle skin care products in waiting rooms. Pampers has wisely partnered with hospitals for years to ensure that theirs was the first diaper new parents put on their infants. (Formula manufacturers have taken similar advantage.) Other brands could benefit from this kind of creative thinking to raise both revenue and loyalty.
With a balanced and data-driven approach to promotions, content marketing and partnerships, brands can stay at the top of consumer’s minds. And in today’s hyper-competitive CPG market, that’s exactly where they need to be.
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