CURIOUS AS TO WHAT SHOPPER MARKETING NEEDS TO DO NOW?
The COVID-19 pandemic caused more than a year’s worth of disruption for every retailer, brand, and shopper marketer. From stay-at-home orders to supply chain disruptions to massive shifts in omnichannel buying, the retail world has never seen such rapid and far-reaching changes. Given all of this, “What Shopper Marketing Needs to Do Now” is a question we hear from many of our peers.
So, we’ll take a shot at answering just that question. To do so, we’ll dive into the key changes and drivers of today’s Shopper Marketing environment…
WALK THE OMNICHANNEL TIGHTROPE
The trend toward increased online commerce was already underway before the pandemic push of 2020. Last year, three out of four Americans tried a new shopping behavior. Today, shoppers rely more on digital today than ever before.
Capitalizing on the increase in online shopping is an unprecedented opportunity for brands. It is also a massive challenge.
Continued growth, for most, means serving online and offline masters. Simultaneously appealing to both digital and traditional in-store shoppers is a tricky game.
Brands with solid omnichannel strategies can navigate this tightrope nimbly and increase sales and market share. But, in doing so, be careful not to look down!
DATA DRIVEN MARKETING IS NO LONGER “NICE TO HAVE”
“There is no alternative to digital transformation. Visionary companies will carve out new strategic options for themselves—those that don’t adapt will fail.” – Jeff Bezos.
Today’s most successful CPG brands use data on the front and back end of marketing activities. Data-driven insights better inform marketing choices upfront. Data-driven measurement helps better analyze initiatives and predict the success of future activities.
Yet, advanced analytics and artificial intelligence remain untapped opportunities for brands. While there are numerous reasons for this, it is a more significant issue in today’s economic environment.
Shopper Marketers must analyze data to better understand shopper targets (online and offline). Based on Google and BCG research, the value of advanced analytics and AI can drive more than 10% of sales growth.
DON’T SKIMP ON STRONG CREATIVE AND CLEAR MESSAGING
Understanding shopping and consumption habits are critical to effective Shopper Marketing. Multiple factors impact shopping decisions. Understanding motivators and barriers are necessary, regardless of being inside or outside the store.
Today its never been more critical for Shopper Marketers to leverage the key influences of human behavior to create effective messaging. Getting straight to the point with your benefit proposition and asking for the sale (i.e., “Closing”) has always been important. What Shopper Marketing needs to do today is double down. Optimized creative can increase conversion by as much as 30%.
WHAT SHOPPER MARKETING NEEDS TO DO NOW: BRINGING IT ALL HOME
While “What Shopper Marketing Needs To Do Now” is a complicated question, our take is to boil it down to three simple strategies:
1) Effectively Manage the Omnichannel Opportunity. While e-commerce has accelerated, it’s only part of the pie. Focus on the omnichannel opportunity rather than only in-store or only digital.
2) Become Data Driven Shopper Marketers. Beyond an understanding of the shopper, brands must lean into first-party data acquisition and deeper analytics. This is a MUST DO.
3) It’s All About the Message, Stupid. It’s not about “creative” messaging, it’s about optimizing messaging for conversion. Ensure there are no dead ends and you are clear and direct in your communications.
