Even as the consumer packaged goods category experiences a windfall from pandemic-driven buying habits, CPG marketers face a steep challenge in balancing the priorities of traditional retail marketing and ecommerce. Thankfully, success in both endeavors depends on more effectively understanding and reaching consumers.
While many CPG brands now account for these major shifts in consumer shopping habits, the most successful CPG marketers seek to better understand and respond to these trends within the context of their own product mix. Enter a new type of competitive intelligence for many CPG marketers: A channel-agnostic approach to interpreting the consumer market signals most relevant to their own product mix to fuel smarter marketing decisions.
While a wide array of market intelligence signals could be useful, three categories of datasets have already proven to be particularly helpful for CPG marketers:
- Retail analytics
- Marketing data
- Customer insights
CPG marketers use this type of data to track and monitor online retailers selling their brands and those of competitors. It empowers them to nimbly react to the rapidly changing market. With the right retail analytics in place, marketers can predict trends before they happen and act on those insights to make successful and profitable decisions.
Reviewing online sales and traffic data, for example, can uncover powerful insights. Marketers increasingly monitor for sales spikes and dips in near real time,…