While traditional television, radio and print ads still have value, even in today's market, it is clear that their impact has been vastly diminished. Advertising spending is instead being driven by online growth – specifically in targeted mobile ads. These messages are speedier and more personalized than ever.
The problem that many CPG companies face, according to CIO Magazine, is a "consumer gap." Simply put, these companies sell their products to major retailers, which then turn around and find audiences for them. There is a tremendous amount of data that can be gleaned from daily sales and customer interactions, but all too often retailers and CPGs are not sharing what they know.
This makes it difficult for CPG companies to fully take advantage of the opportunities that new technology and advertising trends present. To remain competitive, it's important for them to form partnerships with physical and online retailers and make use of the vast amount of consumer information that is being generated. For instance, CIO Magazine notes that home cleaning brand Clorox is working with data collected from Facebook and Google to determine which websites shoppers visit and which videos they watch before purchasing products.
If your business is seeking to improve its understanding of the customer, Interactive Edge offers a number of creative ways to get the most out of your data. Our solutions help CPG companies and retailers analyze impactful data from multiple sources and put it to good use – improving sales, revenue and ultimately strengthening their businesses. Check out the rest of our website to learn more about the services we offer to our clients.