Opportunities of digital marketing for FMCG brands
Digital media is transforming the scenery of global market and FMCG sector is not out of this revolution. Usually, marketing strategy for every FMCG product depends on 4P’s (Product, Price, Place and Promotion) theory, which influence the specific customers buying decisions. In these days, customers are taking decision differently to buy a product. Due to changing of customer behavior on buying product, product marketing strategy required the modifications.
People are now spending their times on Smart Phone or Computers more than traditional media like Television, Radio and Newspapers. The number of online shoppers are growing and the interest of visiting physical store is going down. About $11 billion of total sales in beauty and hygiene products are influenced through Digital Marketing. For reaching targeted audience efficient digital marketing strategy for FMCG brands is hardly required.
Adapting the 4 P’s for Digital Marketing
Digital marketing for FMCG companies doesn’t mean retiring the tried and tested 4 P’s which formed the holy grail of marketing for years. Instead, it involves tweaking the marketing mix for FMCG products to bring them into the current era. Digital marketing trends in FMCG allow marketers to not just capture the consumer at the final buying stage, but also to establish a relationship with them from the start, something that was not possible before. This requires marketers to formulate a holistic FMCG digital strategy to not just influence their consumers, but also to personally engage with them.
Digital Marketing can benefit FMCG brands
Efficient digital marketing strategy scarcely need for FMCG sector to reach the consumers.
1. It helps distinguish your brand
The FMCG sector is marked by a large variety of similar products, which offer consumers a wide range to choose from. One of the biggest advantages of having an effective digital marketing strategy in place is that it helps brands create a unique brand identity. This helps consumers form a strong opinion of the brand, which will ultimately influence their purchase decision.
2. It provides an innovative way to display your brand
In traditional marketing for FMCG, the product display was considered one of the most important factors which influenced purchase decisions. Consumers are visual creatures, so the more attractive your packaging, the higher the chance of it being noticed by them. In much the same way, digital marketing for FMCG companies can be approached as a virtual shelf display. It is even more effective than a physical display because it helps you reach your specific target audience, making your overall marketing strategy more cost-effective. This enables top-of-mind awareness, which can influence purchase decisions. Like physical shelves, digital marketing also allows you to position your products contextually. Through tools like AdWords Smart Display, you can showcase your products while consumers browse through similar categories. For example, if you are a skincare brand, you can display your ads next to beauty blogs your consumers are browsing through.
3. It Allows You to Gain Consumer Insights and Increase ROI
One of the biggest advantages digital marketing has over traditional marketing is that it helps you track every facet of your marketing efforts. FMCG brands spend large sums on hoardings, TV commercials, print ads, radio ads and more. However, the results of these campaigns are very difficult to measure effectively. While speculative figures can be produced, there is no way to arrive at a definite conclusion.
Digital marketing, on the other hand, helps you track and measure every aspect of your campaign. With the help of analytic tools, brands can recover information about number of impressions, clicks, conversions and more. It also lets them find out exactly which ad prompted the consumer to make the purchase. Advanced analytics can even let you gain deep consumer insights. This can help you Create Campaigns And Content That Your Target Audience Will Actually Find Engaging. With the ease of tracking digital marketing offers, FMCG brands can refine their strategies and make it more cost-effective.
4. Mobile usage is only going to grow from here
Offline purchases might still form the bulk of FMCG sales but the future belongs to mobile phones. Mobile phones and high speed, affordable internet have penetrated almost every section of the Indian audience. A significant portion of Indian consumers are shopping for FMCG products online through various apps and this number is only going to grow. Digital marketing trends in FMCG need to keep up with the increasing volume of customers who prefer to shop online.