The NOW Gen

Mes: noviembre 2021

CPG

CPGs and the Importance of Being Flexible

Have you heard of the “New Resignation,» or «Big Quit?” Well, it’s happening now. According to the Bureau of Labor Statistics, approximately 4.4 million people walked away from their jobs in September.

COVID-19 gave people time to rethink what they want in life, to test what works for them, and even to change careers. One of the main reasons is because they are in search of flexibility. The days where it was normal to work 40+ hours in the office are disappearing. Now, 63% of college-educated employees are working remotely. This trend also gives companies, especially CPGs, a chance to integrate work methods based on diverse thinking, insightful strategies, collaboration, and flexibility.

These recent changes have driven the need for companies to provide a flexible, hybrid alternative, and to offer a more enriching environment and support system. Companies are being pushed toward valuing more than just the work. Bill Beck, CMO of health insurance company Anthem, redesigned a creative platform that reminded people of the importance of being together since face-to-face collaboration is a critical part of the creative process. His team came together to think through the execution of the forum as a turning point in the project’s development, where markets work towards a common goal to unlock creative potential.

The new hiring

As data is becoming the central pillar of customer strategy, marketers are demanding more analytical profiles that take the data available and turn it into opportunities to deliver brand messages at the right moment in a user’s life.

Data even helps brands to push their purpose forward. Data scientists show marketers that they too can be a source of creativity because they can create connections between the vast amount of data available, and create a solution that will work for users and brands.

This change of behavior does not mean that creatives are no longer needed. In fact, CPGs are creating collaborative models where different talents, from technical to analytical, come together for creative and strategic purposes. CPGs know and value what each talent can bring to the table working together and creating solutions for the greater good of their brands.

More platforms, more partners

The adoption of digital platforms, the surge of e-commerce, and the latest consumer trends are encouraging companies to lean on a vast network of cost-efficient talent and providers. Companies are also looking for innovative solutions and fresher ideas using contests and crowdsourcing, which help marketers and C-suites reach their commercial objectives.

A global and agile hub

It can be challenging and frustrating to find the proper talent structure, especially if a company is not fulfilling its commercial objectives. Instead of redesigning an entire organization, CPGs are going smaller, First, they work to understand what is happening inside the customer journey. Then, flaws are identified, which reveal opportunities in each touchpoint. Finally, they make suitable acquisitions and find the right partner who will work toward fulfilling an objective.

Marketers are also working to increase coherence across markets. One example is setting up a global design hub that allows different needs to share[A1], upload, and download the same design elements and assets required. This ensures that the brand has consistency in the same communication and goals.

Discover more strategies and what CPGs are doing to win 2022 in our latest white paper, where we share our expertise from working with our CPG clients for more than 18 years. Put your brand on top of its game. Download it for free here: https://121corp.com/white-paper

CPG

CPGs are going micro, and here’s why

Influencers are proving throughout all platforms that they are becoming necessary for brands that want to connect in a more authentic and more profound level with their audiences; this is why just recently released figures show that the value of the industry has more than doubled since 2019, growing from $6.5 billion to $13.8 billion in only three years.

In the following years, marketers are reporting to use almost 20% of their budget for influencer marketing, an ever-increasing number never seen before; this might be related to the fact that during the pandemics, people stay more time at home, connected to their devices, and discovering more content that relates to them. This behavior hasn’t changed; in fact, it’s stronger than ever, only this time, many are turning to micro-influencers rather than the big huge celebrities we see on the internet.

When it comes to marketing and brand managers, micro-influencers are becoming the spotlight on their strategies, but before showing you the many benefits of hiring them in your next campaign, let’s know a bit about them.

  • A micro-influencer has a follower count from 5k to 50k.
  • Their focus of the content is to create a mega loyal, relatable, influential niche audience. 
  • They have the flexibility to manage their content and connect with their followers more directly.
  • They are experts in making creative, unique content that generates higher engagement rates than macro-influencers and celebrities.
  • Their message is peer-to-peer, not peer to an admirer, and this is because a micro-influencer also lives the life of their followers; they try new food, go to new places, work a typical job, and are more transparent.

So how can they be beneficial for your brand?

Consistent communication

Brand loyalty is facing an all-time low for many brands, and one-off campaigns cannot raise numbers alone, so establishing always-on influencer marketing with micro-influencers can help ensure that your brand stays on top of mind. The idea here is to let influencers create constant content that will appear in consumers’ feeds and stories during their moments of need (but without sounding too promo or organic storytelling).

Higher ROI.

Micro-influencers are a low-cost solution for brands and show a higher ROI and reach of business because of the trust they build with their followers. It’s better to hire a couple of micro-influencers that will help connect to loyal audiences and will help deliver the right message for different segmentations, rather than a big celebrity that will mostly speak to everyone but will not create any strong bond.

More Top-of-funnel Traffic and sales.

Micro-influencers are becoming effective partners for any type of business. Their originality and relatability have helped drive top-of-funnel traffic and sales, so having a close relationship with them, sharing your brand story, listening to what they offer, and trusting in their content ideas will only make your revenue grow.

Brand advocacy and audience insights.

As we mentioned before, micro-influencers are skilled to reach users with the same share of values and personal points of view linked to their followers’ passions. Therefore, aligning your goals while leaving a space that will allow the micro-influencer to create a strategy to maximize your results and ask for feedback from their audience will enrich you with real insights for your future campaigns.

How can you find the right Micro-influencer for you?

Brands need to look through their followers on social media and find if there’s a micro-influencer that could be potential. If their content aligns with your brand objectives and it’s interested in sharing their lifestyle with your brand.

Once you find them, appreciate their content, follow them, and engage them through direct messages, they will likely respond quickly and be available for you, even if they are an ongoing campaign.

You can find more insights and strategies that CPGs apply to win the market in 2022 in our latest white paper. You can download it for free here: https://121corp.com/white-paper

Blog

Invest in online data-driven experiences and win your market 

According to the 2021 Gartner CIO Survey, 63% of retailers (including CPGs) expect to spend more of their marketing budget on business intelligence solutions and data analytics, as well as  35% more on artificial intelligence solutions. This number is predicted to continue growing in the near and distant future. The cause for this uptick is due to the recognition by company owners of strong data strategies having a positive impact on customer relationships. 

CPGs use these key factors to achieve a positive data-driven marketing impact. 

1 – Utilize predictions and prescriptive insights for a 360-degree view of consumers and opportunities for growth.

2 – Measure the impact of message delivery in moments that matter to consumers. 

3 – Have access to custom data and technology that enables a customer-centric strategy. 

4 – Have access to flexible and agile operating models for faster and efficient deliveries. 

5 – Build capabilities through infrastructure and talent to scale impact. 

We live in an age of precision. Companies need pertinent information relating to the time their customers are interacting with their company, such as when they are exploring, clicking, and purchasing. Company owners are able to utilize behavioral and demographic data to uncover their ideal audience and target their intended demographic with relevant messaging. Categories like baby and beauty use loyalty sites where they offer tips, coupons, or try-ons. These efforts pay off. Successful brands that apply a data-driven strategy acquire users that will 7x more likely to stay with the brand and 8x will spend their money with them, as well as  recommend it. 

Approaching a data-driven strategy with the help of creativity and storytelling will help crack the codes for a more targeted and engaging interaction, enabling companies to allocate their online budgets smartly. Here are some examples of how a data-driven mindset helps companies invest in relevant experiences and platforms for their customers. 

Integrate new and engaging touchpoints – On International Friendship Day, Coca-Cola boosted its presence with its first-ever NFT (Non-Fungible Token) collectibles, auctioned as a single «loot box» through the OpenSea online marketplace. This is an example of how studying the culture, working collectively with AI, and being there in real-time helps brands create engaging and new experiences that customers will value. 

Relevant content for the right time – Having a deep knowledge of the trends that everybody knows and the moments where consumers search for solutions for their everyday lives helps you create relevant content that will help build a more solid relationship with users. A great example is Unilever’s cleanipedia.com, a site that provides customers with tips, tricks, and advice for cleaning homes and keeping families safe. At the same time, users can access exclusive benefits and discounts from their favorite brands. This action had attracted more than 28 million visitors to date and was relevant during Covid-19. 

Having a new Ecomm platform– We all know Amazon is the king of online retailing. Nonetheless, Covid-19 has boosted online sales up to 70%. This is an opportunity for brands to play across different channels where potential consumers will be, like marketplaces, and create new DTC sites. One example of this is Pepsico’s PantryShop.com, offering exclusive bundles and snacks according to the user’s daily moments at home. 

Product innovations – A data-driven strategy also leads to product innovations or rethinking packaging that delights the online shopper and remains cost-effective across the supply chain. For example, P&G’s Tide created the Eco-Box, an ultra-concentrated formula is delivered in a compact cardboard box. Once peeled, there’s a dosing cup, a no-drip twist cap, and even pull-out legs for flat surfaces! 

Nowadays, there’s so much data available that it’s not about how much data a company has, but how they will use it to create a deeper relationship with their customers. It’s constant learning and updating of processes that require agility, new collaborative, and flexible work methods.  But, most importantly, a company owner needs to have an open mindset that embraces technology and uses it for the benefit of its users, their company, and their purpose. Discover in our newest White Paper the latest work models that CPGs are adapting and what tools they are applying for the 2022 marketing challenges. Read for FREE here: https://121corp.com/white-paper

Brands

Turn your Brand’s Experience into Revenue

Remember Cat Stevens’s «Wild World» song? A “wild world” describes the industry today as capturing consumers’ attention becomes more challenging than ever.

You only have seconds to win against the scrolling. 

Competitors are everywhere. It’s a battlefield.

What’s your game plan? 

According to Salesforce’s «State of the Connected Customer» report, 63 percent  of consumers will pay more for a great experience, and 72 percent will share those good experiences with their friends. In other words, companies with a customer-centric experience incorporated into their sales journey have greater revenue than the ones who don’t. 

If you want to get started with immersive experiences for your brand, it is essential to know your product or service’s purpose and integrate it holistically into your target customer’s daily life.  

The way customers see technology is changing dramatically. They are ready to embrace new tech products and services in their daily lives, not because they are considered «cool,» but because they can creatively solve challenges faced every day at work, in school, and at home.

But how? 

AI, 3D, and immersive experiences are excellent tools for improving eCommerce KPIs. It’s why every day we see CPGs and the biggest brands in the industry investing in immersive innovations. For example, IKEA’s implementation of Augmented Reality in its App IKEA Place, allows users to virtually test their products and furnishings at home and buy the products in the App. This experience had led to an eCommerce sales boost of 43 percent this year. 

If you want to increase your company’s conversion, try using AI to educate and demonstrate to your customer the product which suits their needs. For example, Nike developed «The Nike Maker Experience,» which, with the help of AI, lets users customize and create a pair of Nikes and have them ready in only a few hours! Exceeding customers’ expectations in innovative ways leads to better engagement rates and shareability. 

AI also helps reduce bounce rates. Social media and over-exposition have decreased human attention spans to as little as eight seconds; a short time for your brand to highlight your products, and even worse if there are unlimited amounts of information and content that can overshadow your brand. Still, when it comes to AR experiences, 50 percent of users spend more than two minutes of interaction. Using AR in rich media or on your website will win you time to show more about your brand and product, and if your experience is engaging, you can get potential customers from existing customers through “word of mouth,” turning more leads into even greater sales. 

Immersive technologies are now considered new interfaces and are the perfect tools for brands to deliver one-of-a-kind experiences that resonate with customers. Discover the latest information in our White Paper, «How Giant CPGs Will Handle Marketing Challenges in 2022» Inside, you will discover a variety of experiences and ideas CPGs are applying to their marketing strategies to win in 2022. Read it for FREE here: (https://121corp.com/white-paper ).