The success of a company heavily relies on its ability to connect with its consumers. Especially today, it is absolutely essential for CPG brands to create growth strategies centered around the consumer, adopting a "consumer over everything" mindset. By prioritizing the consumer in every aspect of their business, CPG brands open many doors for themselves when it comes to driving sustainable growth. With that being said, we think there are 4 main reasons for why every CPG brand should be adopting this mindset. Let’s discuss it:
1. To Better Understand the Consumer
To build a consumer-centric growth strategy, CPG brands must first develop a deep understanding of their target consumers. This involves capturing first-party data through analyzing consumer behaviors, preferences, and purchasing patterns.
When it comes to how you can better understand your customers, the options are endless. You could encourage your audience to engage in conversations through ending your captions in a question, hosting Q&A’s and through social media polls or ask your customers to fill out feedback forms about your brand/product. If you use WeStock, you can also deploy personalized request forms on your channels to better understand where your customers like to shop. Check out the Táche request form to the right!
By leveraging this kind of data, you can feel confident in knowing your strategies are based on those who know best in this scenario: the consumers. These are the people who love your brand most and will be able to tell you exactly what they want. It’s your job to capture this information and effectively use it for optimal growth.
2. Improved Marketing and Communication
By leading with a consumer-centric growth strategy, CPG brands are able craft personalized and relevant marketing messages to their audience. By utilizing data-driven marketing techniques, like targeted content, brands can ensure their messaging reaches the right audience at the right time. Implementing omnichannel strategies is also crucial for engaging consumers across multiple touchpoints and creating a seamless brand experience.
Through WeStock’s tools, brands can capture unique customer feedback and preferences which can then be used to shape a more personalized marketing approach and drive their customers in store, hitting that physical touchpoint. For instance, a brand that uses WeStock can set up a promotional SMS campaign to actively engage their online customer base and drive results in-store.
3. Product Development and Innovation
Embracing the "consumer over everything" mindset extends beyond the way you just market your product. It's a philosophy that should completely drive product development and innovation. By seeking consumer insights, brands gain a more valuable understanding of unmet needs and pain points. These insights then become the fuel for product enhancements or even entirely new offerings. Placing consumers' desires and preferences at the forefront of product development ensures that the end result truly serves their needs. After all, the product exists for them!
4. Consumers Provide the Foundation
Consumers are the ultimate decision-makers who drive demand and shape market trends. They act as guiding forces for both brands and retailers. Additionally, retailers play a crucial role in bridging the gap between brands and consumers, providing the physical and digital touchpoints at which the connection is made. When all three pieces - consumers, brands, and retailers - are aligned and connected, a powerful synergy is created, fueling growth, driving sales, and ensuring long-term success for all involved parties.
In today's day in age, CPG brands cannot afford to overlook the importance of a consumer-led approach to their growth strategies. By embracing a "consumer over everything" mindset, CPG brands can truly stay ahead in this ever-evolving industry.
Remember, in the realm of consumer packaged goods, it is the consumer who ultimately determines success. By prioritizing their needs, desires, and preferences, CPG brands can create meaningful connections and drive growth that withstands the test of time. Adopting a consumer-led mindset is not just a strategy; it is a commitment to understanding and serving the people who make their business possible.