7 Tips for Achieving Omnichannel Capabilities in the CPG Sector
To take on this challenge, CPG companies will need to ensure their digital channels operate on par with or better than their competitors. The key is to achieve an omnichannel strategy supported by the ability to activate, measure, and execute campaigns and rapidly show ROI. That strategy must also be centered on consumers, ensuring they can easily navigate between touchpoints on their way to making purchasing decisions.
To help your business build an omnichannel strategy, here are seven key aspects to consider:
1) Cater to customer preferences—While digital preference was already widespread among consumers, the events of 2020 served as a catalyst for shifting behaviors. This led to CPG businesses prioritizing digital channels more than ever before. This shift in consumer behavior is likely to continue throughout 2021 and beyond: 75 percent of people using digital channels for the first time this past year indicate they will continue to use those same channels when things return to “normal.”
2) Unify consumer experiences across each touchpoint—Consumers use an average of almost six touch-points, with nearly 50% regularly using more than four.
3) Adopt an agile culture mentality—Organizations also need to realize digital transformation takes more than new technologies. It requires organizational support and a reinvented operating model structured to support seamless consumer experiences across channels.
4) Integrate technologies—Connecting data from multiple systems enables the automation of administrative tasks. It also optimizes processes to allow for marketing resources to be more meaningfully invested in activities such as customer lifecycle management for retention, versus a sales-driven approach to acquisition. Tight integration between marketing and sales—based on the collective touchpoint data—can improve account profiles, increase conversions from anonymous to known, determine the timing of touchpoint communications, provide relevant responses, and measure true attribution.
5) Improve eCommerce—Utilize cloud-based supply management to more accurately forecast needs and to achieve the data flows required to proactively deploy inventory as needed. And by launching or growing your direct-to-consumer eCommerce platform, you can establish stronger relationships with customers and drive sales by generating deeper insights into their needs. You also maintain greater control over your brand experience and can refine your value proposition.
6) Leveraging data and analytics—Personalization is only as effective as the underlying data driving it. It requires CPG marketing teams to deeply understand customers and effectively manage data. By scaling your digital analytics capabilities, you can ensure every decision—from marketing to the supply chain—is grounded in an understanding of consumer behaviors.
7) Optimize content—Research indicates only 15 percent of CPG firms have fully implemented personalization strategies, and more than 80 percent are still defining their strategy or have begun pilot initiatives. That means there’s an opportunity in the CPG industry, but to achieve personalization at scale, you need to meet each consumer’s content demands, channel-by-channel. Brands must evolve their approach and use technology to automatically and dynamically assemble content. By using a digital asset management system, you can maintain brand standards and reduce human error while gaining and inefficiencies across your organization.
Automating Your Marketing Decisions
A centralized decisioning engine—powered by predictive models and algorithms—will automatically curate which experiences to present to individual consumers across all of your communication channels. You can also ensure experiences through one channel will sync with all the experiences of other channels. And that’s the essence of achieving an omnichannel presence!
To learn more about achieving omnichannel capabilities in the CPG sector, check out this R2i white paper. And for help in implementing an omnichannel strategy for your company, contact R2i today.
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