Do you have the ammunition needed to take back control and maintain market share?
In recent times, changes in consumer behavior and the retail landscape have put increasing pressure on CPG companies. Today’s customers have veered from the traditional linear path-to-purchase that CPG companies controlled. Brand loyalty is also waning now that customers interact with multiple channels along the purchasing journey and price plays a more critical role in buying decisions, as customers can compare prices easily. All these factors mean that CPGs are facing more uncertainty than ever on the rate of consumer spending on their products.
Retailers are also increasingly focusing on white-label products as they try to increase their bargaining power with popular FMCGs. They are changing their product ranges and adding more products to their shelves to differentiate themselves from other retailers. These factors, combined with varying input prices, means manufacturers are now faced with the challenges of growing their margins, winning the price war for consumers, and getting their products on the retailer’s shelves.
All these trends make one thing clear; power is shifting from CPG companies to retailers and consumers, and pressure is mounting on marketing teams to figure out innovative strategies to retain their market share and drive month-on-month growth. CPG’s need to engage more with their customers, for them to engage directly with their buyers they need more robust analytics capabilities that will make it easier to define buyer specific campaigns.
For marketing teams to increase the ROI and meet their monthly and yearly targets, they need access to first-class data analytics tools and processes. In many cases, marketing teams are limited to manual methods of tracking their success and have almost no visibility at the point-of-sale, one of the most critical points on the distribution chain. While some brands have made some efforts to adopt digital tools to increase their visibility, these tools are usually limited in scope.
Increase data analytics capabilities with RedCloud
This is why there is RedCloud. RedCloud is the CPG industry’s first digital ecosystem that connects brands, distributors, and retailers on a single platform, unlocking the full value of the traditional distribution chain. With RedCloud, brands have visibility across the entire distribution chain and can derive insights at point-of-sale. Marketers can make smarter decisions on their trade marketing campaigns based on real-time data, while also identifying new opportunities for up-selling and cross-selling their products.
RedCloud is helping the CPG industry sell smarter, buy better, and pay simpler.