You’ve probably noticed how CPG marketing strategies are having to adjust to suit new economic facts. The shifting marketplace is putting an end to any previous assumptions!
During 2022, pre-pandemic consumer behaviors have slowly returned, and these are now forcing a rethink for 2023.
Inflation and the need to offer maximum value on all product lines is also adding new demands on your marketing team. And customers are comparing different brands in both digital and physical spaces, whatever their previous preference.
So – how can you plan for successful CPG marketing in 2023?
Here are five priorities.
1 Take into Account Customers’ Needs and Context
Context is king! Meeting consumers at their point of need should be top priority now. Use your data to understand and quickly act on new opportunities for
- creating value beyond the functional,
- sizing products and packaging to suit,
- improving the online shopping experience you offer, and
- maximizing use of loyalty cards or reward programs.
Overall, make sure your CPG marketing strategies remain relevant to your demographic. Agility is key here!
2 Increase Your CPG Marketing Channels and Add Video
Consumers are using new-to-them channels to find best value.
So – discover where the ideal consumers of your CPG product are and add in any channels that will effectively reach them. Then engage them with video.
Why? According to Forbes, “video has become the cornerstone of all marketing campaigns.”
That’s because video
- increases traffic,
- generates leads,
- gives a good ROI,
- increases user understanding, and
- improves sales.
In particular, short sales videos, recipe videos, and branding videos work well for omnichannel marketing in the CPG world. Many firms are using TikTok!
3 Monitor Shelf Placement and Stock
Placement and stock available in store will be even more important for CPG marketing success in 2023!
However, supply chains are still fragile and stores are stocking less up front and replacing more often. So track your product inventory carefully to avoid empty shelves.
Also, partner with your retailer to ensure your products are performing optimally for both of you in terms of visibility. No retailer wants empty shelves or over-full backroom storage.
4 Introduce Key Account Management in 2023
Understand which your key accounts are – i.e. your most valuable retailers. Analyze data from retailers to help you focus your marketing efforts on those that
- meet your customers’ expectations and
- deliver most ROI.
You can give extra value to your key accounts and receive helpful CPG marketing information in return. It’s a win-win situation you’ll both need in 2023!
5 Consider Your Sales Enablement
Sales enablement means arming your sales and marketing people with resources they need to operate well during all aspects of selling your CPG product into stores or marketing your brand online.
In 2023 this will be crucial as stores limit their lines and consumers become less adventurous but more choosy. Your materials need to be specific and targeted!
So – differentiate yourself from other CPG brands by making effective use of
- centralized actionable data from both leading and lagging indicators, and
- appropriate material your reps can use at each stage of the store buyer’s or partner’s journey with you.
Momentum CPG Can Help!
No matter how effective your CPG marketing today, you can probably always use some outside help to make improved marketing decisions in a swiftly changing marketplace!
At Momentum CPG, we can help you develop effective marketing strategies to drive value and convenience for your CPG customers in 2023 and bring you sales success! Contact us today!