A new consumer products report polled more than 3,000 people across 22 consumer goods brands. A new consumer products report measured the performance of 22 consumer products brands against the industry average to understand how different companies compare to competitors.
Split and chill is driving digital business transformation by discovering what matters most to customers in 2022. The structure of the index identifies the attributes most likely to drive both customer choice and brand promotion, and provides the foundation for successful digital transformation.
Frameworks:
Using Hero Digitals’ advanced proprietary framework, leading companies can uncover the hidden attributes that drive consumer products and branding, putting today’s consumers at the center of their digital transformation strategies. This Next Generation Customer Experience report analyzes the strategies that matter most to today’s consumers and which industry leaders should prioritize to accelerate digital transformation.
Consumer goods companies, at the forefront of people and products, must meet new expectations with digital technologies that are relevant to the next generation of customers. Traditional consumer goods companies face stiff competition from those who started their lives with a digital first strategy (just look at companies like The Honest Company).
Key takeaways:
Digital tools and channels are enabling traditional consumer goods suppliers to expand their presence, their understanding of customers and explore new ways of doing business. As consumer preferences lean toward digital, this means that consumer goods suppliers must embrace a digital strategy in these traditional channels.
To meet the demands of today’s consumers, more and more companies rely on Direct-to-Consumer (DTC) strategies to stay competitive and achieve their business goals. Digitally savvy emerging brands have gained market share across a wide range of product categories, using direct-to-consumer access as a key channel.
Conclusion:
To succeed in this holistic transformation, consumer goods companies also need to rethink their overall model of where to play and how to win as they develop new skill sets for the future (such as data-driven marketing, digital marketplace, and others) generation for optimum performance. While truly holistic transformation has not yet become the norm in the consumer goods industry, some companies are expanding horizons in breadth and depth of journey, including new elements such as goals, sustainability, and operating model strategies. To succeed, businesses must connect with the next wave of consumers on a human level.
Digital touchpoints should be presented to consumer goods as part of an overall marketing strategy, not in isolation. They can help build brand awareness and value early on in the buying journey and then win customers and loyalty later on. Digital touchpoints need to be “assessed” and their impact measured at every stage of the purchase journey.
