The economy is changing, and shoppers are changing their behavior as a result. They are spending more time researching, and 70% of them say they are more thoughtful about how they spend their money. This is particularly visible in the consumer packaged goods ( CPG ) category, where 56% of consumers say a brand’s website influences their purchasing decision.
However, since most sales are made offline, CPG marketers often struggle to measure bottom-of-funnel tactics and are not considered performance marketers.
Therefore, it is more important than ever to measure
The full customer journey and determine which campaigns maximize profitability. Leading CPG brands have already begun to evolve their strategies to fantuan database track the end-to-end customer journey, from discovery and consideration to offline conversions. These adjustments can help drive long-term growth, even in uncertain times.
Now, don’t worry if your measurement approach isn’t holistic yet. Here are two principles that can help guide your evolution, as shown by the stories of two companies, Reckitt Benckiser and Campbell Soup Company, who implemented these strategies and achieved successful bottom-of-funnel marketing results.
►I measured long-term benefit, not just efficiency
CPG brands tend to look at sales as the sole indicator of how they should spend their advertising dollars. While sales are important, limiting the
in what situations might focus to just sales can lead to overlooking the underlying factors that drive performance, such as ad creativity, audience targeting, and sufficient investment. Sacrificing effectiveness for efficiency risks reducing overall profitability.
In fact, leading brands have moved away from a sales-only measurement strategy to instead track multiple KPIs across the customer journey, both online and offline. Doing so allows them to link the discovery and consideration stages to actual sales.
Brands start by tracking a variety of metrics to understand cyprus business directory how they relate to each other. Then, they identify which outcomes are most important to them. For some companies, customer acquisition and growth may be profitable; for others, it’s increasing consumer loyalty. The point is to identify the most important outcomes and make them the focus of measurement, particularly in performance marketing.
One company that has done this particularly well is Reckitt Benckiser, which produces the Enfamil brand of infant formula. While the vast majority of Enfamil’s sales occur offline and in third-party retail stores, the brand’s search campaign KPI focuses only on online conversions.
