Have you noticed that simply “buying a new tool” is never as simple as simply buying a new tool?
Digital savvy consumers demand personalization across multiple touch points. Companies that fail to engage risk losing consumers or even worse falling behind the competition. Gone are the days of mass marketing, mass messaging, mass distribution of the same message to everyone.
Technology has infiltrated every aspect of our lives and today’s consumers possess more internet-connected devices than ever before. Laptops, tablets, phones and smart watches have made our lives easier and our connections more seamless, and this includes the shopping experience.
CPG companies are increasingly harnessing growing volumes of consumer data through online marketing and direct-to-consumer sales platforms. These companies can enhance their trade promotion activities through artificial intelligence and machine learning, but they must collaborate with retailers to do so. Together, the two can better identify ineffective promotions, forecast more accurately and optimize promotions to generate an optimal sales fit.