Every movement begins with a moment.
While “big data” has taken much of the consumer goods (CG) industry buzz limelight in the last 18 months, consumer insights and related programs and initiatives have quietly moved up the priority list for CG execs. Why? Because consumer insights offer CG manufacturers the opportunity to develop individual connections with consumers globally.
By connecting with consumers and their households across multiple channels, CG suppliers are able to capture significant data and insights previously unavailable (or only available via a retailer). They can then use these insights to fuel direct, personalized and actionable interactions with shoppers — and to power retail-CG collaborative shopper engagement activities.
The key to fully exploiting the value of consumer insights is to leverage interactive campaign management capabilities that allow marketers to establish virtual conversations with individual consumers based on their behaviors in a completely automated and analytically driven fashion. The campaigns and promotions that resonate most are those that engage consumers in personalized, two-way dialogs at the right time, through the right channel. Event triggers are a key enabler to personalized campaign execution and are defined as consumer behaviors that indicate a potential consumer “need” and therefore, trigger a personalized response.
“Done right, cross-channel, event-triggered marketing can improve campaign effectiveness, and doesn't have to put a strain on your budget. According to Gartner, event-triggered marketing can potentially save 80% of your marketing budget.” – Direct Marketing News
Powered by the capture and tracking of consumer actions and traits across multiple touch points into a single repository of corporate consumer information, CG suppliers can now use event-triggered marketing to take personalization and consumer dialog to a whole new level. This is the next step toward achieving the vision of moving to direct-to-consumer relationships (e.g., 1-to-1 relationships between consumer and brand owner).
Achieving the best return on digital engagement is a function of both timely response and the degree of data-driven personalization. But an event for an event’s sake isn’t the point. There must be rationale behind event-triggered communications, and it all starts with the consumer — the consumer’s need. Event triggers can automatically initiate an offer or communication to those consumers who exhibit specific behaviors or combinations of actions.
For example, fully automated campaigns can be executed daily for birthday greetings. Or consumers with specific traits (e.g., family size, age of children, pets) who also have downloaded a coupon could be automatically presented with a customized offer. Event triggers are totally automated communications that execute at any frequency and for any consumer who meets all of the criteria defined by the marketer.
Any consumer action can be combined with any number of consumer traits to represent an event trigger. And because these communications are automated, they can target any number of consumers at minimal cost — making personalized (and more effective) communications with small numbers or segments of consumers cost-effective.
This capability takes consumer personalization and brand relevance to a new level for CG firms. Other industries have long had direct access and direct connections to their customers (e.g., retail, travel, gaming), and now consumer packaged goods (CPG) brand marketing teams are investing heavily in the space. It starts with a platform for consolidated consumer data, which is then exploited using data-driven (and big data-enabled) marketing collaboration tools. Event analytics are identified and pushed back into algorithms that generate future campaigns, offers and messages to consumers.
Expect an increased investment in this space in 2016 from CPG manufacturers.
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