When a mother of four runs into her local supermarket to buy paper towels, Lunchables and a package of baby wipes, she’s not just there for a leisurely stroll around the store. She’s on a mission. She has intent. This is not your mother’s weekly shopping trip – and it will probably be over in under 10 minutes.
Consumer trends could tell you a little about this shopper – that she carries a smartphone, uses the self-checkout, that she drives an SUV, which stores she frequents, how old she is, etc. But it can’t give you specific data regarding why she goes to the store, how strong her purchase intent is, and the drivers behind her specific purchase decisions.
That’s all information that can be revealed by shopper insights.
Brands like Coca-Cola live and die by these insights. Their shopper marketing strategy relies entirely on shopping occasion and “trip missions,” particularly since research found that nearly six of ten shopping trips (57%) are occasion-based, and shoppers are solution-oriented. Coca-Cola therefore seeks to unlock what those missions are, and provide appropriate solutions. According to Andrew McMillin, Vice President, Shopper Marketing, Large Stores, Coca-Cola Co., “Occasion-based marketing is how we go to market today. In reality, it is our heritage.”
But while giants like Coke rely on shopper insights around mission and occasion, they’re in the minority: per a GMA and Deloitte study, only 36% of CPG marketers regularly collect this kind of data, compared to 75% who leverage more general consumer research. If we know that these deep shopper insights are driving growth for industry leaders, why aren’t the rest of us following suit?
The simple answer is that we don’t do it because it seems like a lot of work. There’s an overwhelming amount of data, and it can appear hard to collect and parse – and harder still to glean actionable insights. There’s also a perception that processing all that data will be costly. That doesn’t mean it shouldn’t be done. “All that data” can seem daunting, but it’s critical to success in an increasingly competitive market.
In truth, with the right partners and technology in place, collecting shopper data and putting it to good use doesn’t have to be difficult or expensive. And it can produce exactly the insight CPG marketers need to drive effective shopper marketing strategies.
To learn more about the MediaMath solution, click here.