Personalization is like the golden ticket for marketers, everyone wants it but is it really that easy? With artificial intelligence (AI) expanding, such as voice text features, smart personal assistants like Siri, and Amazon Alexa, marketers may just be receiving their golden tickets sooner than they thought.
With that being said, Fortune 500 consumer-packaged good brands (CPG) are discussing ways to broaden their AI opportunities according to heyday.ai. Chief Marketing Officers are gearing up to find better ways to connect to mobile consumers.
When we speak about AI, data is the backbone, and the issue CPGs will face is the topic of data ownership. If you’re familiar with the industry most CPGs don’t have rights to the customer data, the retailers do. We live in a world where data is what is keeping personalized shopping experiences moving, and CPGs will need to find ways to stay on top of this issue and not get left behind. Ultimately, they need customer insights to move forward.
In a recent post from Mayur Gupta, Global Head of Marketing Technology and Innovation at Kimberly-Clark mentions, “that the CPG manufacturers must rethink their relationships with consumers and retailers before they get left behind from the age of the empowered customer”.
The CPG industry needs to use data to their advantage to connect with consumers on a personal level to help drive business decisions. It won’t be easy, there are challenges that the industry will have to face in order to get around retailers owning the data.
3 obstacles the CPG industry needs to overcome:
Proper Data Users
In order to use data to make important business decisions requires the right team who has the expertise to properly manage the data. Especially for CPG manufacturers that need the proper insights from professionals who aren’t only good with data, but can handle the data in a business setting and CPG industry.
2. Understanding what customers want with data
Like almost all marketers, the CPG industry needs to understand customer behaviors. For instance, what do customers want? And what drives the decisions they make? In order to do this, CPG manufacturers must look past big data sets, it’s great to be knowledgeable about what people are doing, but they must reveal why people are doing it. This means digging deeper into understanding your customers wants, needs, attitudes, purchase history, motivations - behavior data. With this, you can then enrich your CRM with personalizable data to help better your messaging.
3. Privacy Issues
When it comes with customer data, privacy is always something we tiptoe around. It’s a big concern. Laws being enforced due to people being sensitive to what kind of information is out about them and who has it. A stat from Columbia Business school states, “75% of those surveyed said they’re more likely to want to share pieces of personal data with a brand they trust. This type of data includes sensitive data like name, address, cell phone number, and date of birth”.
Like all companies that handle data, CPG's should always respect the privacy of the customer and strive to use good data management. Implement policies in place to protect the organization.
Webbula to the Rescue
CPG industry, do not panic, Webbula is here to help. We understand the pain of not being able to have any ownership of your customer data.
The data that you do receive, you can append it which can freshen up your lists with updated and accurate information like name, number, email address, mailing address, as well as information such as - interests, hobbies, financials, mortgage, political, and other specific data points.
By appending your data it can help you communicate with your audience more smoothly and:
- Add missing information ranging from names, phone numbers, email addresses, to interests and hobbies
- Give you a better understanding of your customers and prospects with more complete information at your fingertips.
- Boots your response rate by eliminating emails to invalid or outdated addresses
- Keep your data clean which can help increase deliverability and avoid landing in spam folders
- Give you options for segmented and personalized marketing and communications based on enhanced data.
It’s great to see that CPG companies are now beginning to adopt a data-driven strategy, but first, there are a few obstacles that they need to face. Webbula can help provide the CPG industry more data to help you create audiences. Our data begins with a multitude of sources, including publisher partners, surveys, transactional events, social media, and other data providers. Webbula receives the data and then applies our hygiene to mitigate fraud.
If you’re in need of more customer data, contact Webbula today.
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