Article | August 11, 2020
More often than not, your customers’ experience begins with a local search: Where can I find this product or service to meet my needs? From there, searchers consider the additional information they are offered as they decide which branch or office to visit. The attributes available to you inside Google My Business are a key element of that first interaction you have with a financial services customer.
Article | December 11, 2020
The Coronavirus pandemic brought an old realization back to businesses – The devil is in the detail. As stores shut and opened tentatively, Amazon’s delivery cycles stretched and returned, and brands reconfigured production-supply chain combinations several times in a span of months, one thing was clear – staying strong and emerging through the current chaos would require close attention to details on a real-time basis:
Where is the demand moving?
What’s my inventory?
What are my operating costs and profit margins on one channel vs. another?
What are my buyers’ other options right now?
How do I optimize digital assortments?
What are the new and emerging customer needs?
And amid the chaos, another thing became apparent to brands – they needed a robust digital strategy to not just drive through this crisis but to thrive in the emerging world. Driven by lockdown restrictions and the desire for safety, more consumers have moved online.
According to research by Adobe Analytics, the total U.S. online sales reached $73.2 billion in June 2020, year over year up 76.2% (from $41.5 billion the previous year).
Consumer research by various teams at Course5 Intelligence has shown that the pandemic has created a large population of first-timers on eCommerce, with a massive increase in online spending by those who were already shopping online earlier. Most research respondents said that their shopping would continue to be omnichannel in the future, with an increased share of online.
And yet that’s only part of the reason why brands need an effective digital strategy. Even before consumers buy their products, they are looking online for information on what they want, availability, meeting the safety standards, and aligning with their preferences and needs. Google and Amazon have become the first point of research when users when to buy something, so digital lies at the very start of their purchase journey. And this is also where digital has distinctive strength over offline channels – the space and scope for a brand to define their brand, highlight distinguishing characteristics from competitor products, share user reviews to gain credibility, and deliver highly customized price-product offers, optimizing gain for buyers and the business.
However, many CPG companies do not have their direct-to-consumer platforms; many are still focused on partnering with a variety of e-marketplaces that exist globally or regionally.
How do you optimize your brand parameters for eCommerce platforms?
Even though many brands have set up their own D2C sites (for instance, PepsiCo’s snacks.com and pantryshop.com), there is no comparison in reach with major eCommerce platforms such as Amazon, Walmart, Flipkart, Shopify, Tesco, Target, Alibaba, Costco among others; your brand needs to be here. Each of these platforms has different engagement parameters for brands. While Amazon has 1P (1st party – Amazon is the wholesale buyer and markets and sells to consumers) and 3P (3rd party – Brand sells direct to consumer via Amazon) options, with Fulfilment by Amazon (FBA) and FBM (Fulfilment by Merchant) options within 3P, others have a variety of other arrangements brands must choose. Making more significant decisions such as choosing the platform/s you want your brand on, the right selling/fulfillment strategy and base pricing to fine-tuning the advertising, product messaging, price, optimizing the supply value chain and product assortment on a day-to-day or week-to-week basis requires a combination of real-time contextual insight and the digital capabilities to be responsive.
Course5 Intelligence has been helping CPG, Retail, and Technology brands use AI-driven insight mechanisms and digital capabilities to define their eCommerce strategy and improve revenues in three broad ways —
WIN THE DIGITAL SHELF BATTLE
Price — How do I optimize my pricing strategy based on various trends?
Product portfolio — How do I optimize my product portfolio and packaging initiatives?
Catalog — Which categories do I overplay?
Market Share — How do I drive sales and gain market share faster than my competitors?
Brand Hygiene — How do I optimize search, product discovery, and reach for all my SKUs?
OPTIMIZE MARKETING SPEND
Ad-spend Attribution — What marketplaces are delivering the maximum ‘clicks to revenue’?
Purchase Signals — Are my ads targeted on purchase signals or on guesstimates?
DEMYSTIFY DATA COMPLEXITIES
Enable Quick Decisions — Do I have visibility on all dimensions and objectives?
Expedite Data Semantics — How quickly can I glean insights from new data sources?
Solve the ‘Alt-Tab’ Environment — Does my analysis exist in an ‘alt-tab’ environment? Or within a single product?
These are just a few data points that drive action within an effective and profitable eCommerce strategy. CPG brands that would like to make lasting inroads to consumers’ online shopping habits will need to deliver compelling value to buyers continuously. To do this, they will need to expertly navigate a complex and dynamic set of parameters to shine through at every level of the buyer’s journey – from the first appearance on the buyer’s horizon to becoming their first and last choice, always ensuring that the numbers match across buying price to experienced value.
Optimizing your digital marketplace strategy for the end-to-end buyer journey in an amorphous market landscape is the only way to stay ahead of the competition, establish category leadership, and increase revenue on a sustained basis.
Article | February 17, 2021
In today’s world, brand marketing goes much further than marketing campaigns and advertising.
When it comes to brand advocates, we typically think of social media influencers and the more traditional brand ambassador. However, what better brand advocate than your very own employees?
Matthew Hayes, managing director of brand agency Champions (UK) plc, explains the importance of using employees as brand advocates and the benefits to both the brand or business and its staff.
What is a brand advocate?
A brand advocate is somebody that shares the same values and ethos as a brand, representing them in a positive light, often helping to increase brand awareness and even sales.
Typically speaking, a brand advocate is often a social media influencer, a brand ambassador or there is some sort of mutual, or contractual agreement in place.
However, who are the most powerful spokespeople for a brand or business? The people who work there, of course. These people are often the living embodiment of the brand and front-line representatives that can make or break that brand interaction.
It may not be the most traditional concept or the one we necessarily think of first, but it definitely makes the most sense. Particularly in a time where employee retention and communication are so important.
Brand advocates are a way to drive organic and authentic traffic to a brand or business. Whilst the Internet and social media are incredibly powerful tools for raising brand awareness, nothing quite beats word-of-mouth marketing.
In 2016, a global study found that 50% of employees share something on their own social media channels about their employer. And given that social media has upped the ante over the last few years, I expect this figure to be significantly higher in today’s climate.
So, with that in mind, brands should be working towards improving their internal communications to create a better relationship with employees, promote their vision and mission, and raise brand awareness through organic brand advocacy.
Brand advocacy builds brand love
When done correctly, brand advocacy can build brand love and there are a number of ways to do that.
Whilst many brands focusing their attentions to external communications, however, many neglect or overlook the importance of internal communications and training.
Internal communications are a phenomenal way for brands and businesses to collectively communicate with their employees. Whether this is done via training courses or conferences, internal Intranet or even an email newsletter, this can help improve employees’ knowledge of the business, the brand and the products or services.
Not only that, but internal communications help boost staff morale, providing them with motivation and detailed information ensuring they are involved and up to date with all aspects of the business.
They also provide a sense of togetherness, connecting employees through a series of shared visions, missions, goals and objectives.
Here, is where consumer and employee sentiment is key. Consumer sentiment has always been an important variable in businesses, allowing owners to forecast production, plan ahead or adjust their output depending on popular opinion – and the same goes for employees, too.
And if brands aren’t entirely sure how to turn their attention to employee sentiment, the first step to make is investing in a brand audit or brand value proposition. These can help to educate and ensure stakeholder and employee perceptions are aligned, as well as making sure people are communicating the same messages, vision, mission and values of the brand.
A brand vision is simply intent. The vision should support and reflect the long-term business strategy and help guide the future. And a brand mission, is a statement that communicates the purpose and objectives of a brand.
And with the vision and mission of the brand in mind, it is important for brands and businesses to consider both employees and consumers to ensure values are shared across the board.
Employees are key
Employees are a pivotal part of any business. And quite simply, without them, businesses wouldn’t be able to function. It is the employee’s business just as much as the employers, so it is only right for them to play a part and get involved.
We are beginning to see more well-known brands implementing this strategy and using their employees as a face of the brand, rather than just working their magic behind the scenes. Disney are a great example of this as its employees have been the embodiment of the brand and its ethos for years.
The likes of Sass and Belle, Lindex and Zoella are all putting staff at the forefront of their brands, getting them just as involved as main stakeholders.
Sass and Belle, for example, have a website filled with images of their employees and often share quotes and content from them, too. This in turn, creates a more personal and emotional bond between the brand and the consumer, as the brand is no longer faceless.
Similarly, in 2015, Lindex launched an underwear campaign and instead of tapping into their network of professional models, they used their own employees and have continued to do so. Again, this improves their position in the market by appearing more relatable and creating that all-important emotional connection.
And Zoella often shares content, crediting employees for their ideas, allowing them to take part in social media takeovers and truly getting them involved. By doing so, they are adding personal and humanistic elements to their branding – and it’s paying off, too.
In doing this, the brand achieves an even wider reach as employees share the brand’s content across their personal channels, get to know their online connections and create organic relationships with potential consumers themselves.
Not only that, but this creates reputation, making brands come across as a desirable employer and recruiter, as well as helping to retain current staff and employees.
Listening to new ideas, accepting criticism and being transparent is also paramount. Your employees may well be your consumers too, and as they say, the customer is always right.
After all, employees are the ultimate representative of a brand, and Amelia Neate, Senior Manager at Influencer Matchmaker says, “It’s important to remember we’re living in a social age where employees are becoming micro-influencers in their very own right.
“For example, Emily Rose Moloney started out as an employee for ASOS and now, working as a fashion influencer, is promoting them on her social media channels, with her Instagram account gaining almost 80k followers.”
What employees think of a brand or business they work for speaks volumes. And employees help to drive brand awareness, so empowering them through a plan of brand advocacy is a sure-fire way to achieve great results.
So, next time you are seeking to boost stats and see results, consider the power of your employees and come together to create your very own culture.
Lead by example, work together and invest in your employees.
Article | February 18, 2020
Learn how SaaS marketing strategies including, email marketing, content marketing, online quizzes, referrals, influencers and free premiums can boost lead generation. Modern SaaS businesses are facing a real challenge when it comes to generating more leads. It’s more affordable to reach new audiences than to invest in retaining old ones. While this may be so for well-organized businesses, startups have little to no benefit to gain from this strategy.
Startups have to make things work in a fiercely competitive SaaS environment.
Improving lead generation becomes a top priority, especially if your consumer pool includes only your closest collaborators, partners, and friends.