How CPG Brands Can Increase Advocacy to Drive Sales
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The Consumer Packaged Goods industry is facing a daunting challenge of finding ways to differentiate their products among competitors. Today’s customers have more options than ever, and the CPG brands who best understand what their consumer wants and where they want it will be the ones who come out on top. In this webinar presentation, learn how CPG companies can leverage their current customers to drive not just advocacy for their brand, but also increased sales. Find out: - The new customer landscape CPG companies are facing - Ways to drive customer advocacy through incentives and rewards - How to increase revenue and decrease cost Recording of the webinar is here: https://www.youtube.com/watch?v=OFOtCcF1VSM&feature=youtu.be
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How CPG Brands Can Increase Advocacy to Drive Sales
- 1. How CPG Brands Can Increase Advocacy to Drive Sales
- 2. #CPGadvocacy Spendsetter is a Advocate Marketing Platform that allows brands to identify and reward their most influential customers. About Spendsetter Cuff Supply Co. Product Title Redeem 4,000 pts Product Title Redeem 4,000 pts Product Title Redeem 4,000 pts Product Title Redeem 4,000 pts All Products Marketplace 42%Sketch 9:41 AM You have a total of 12,000pts Filter MarketplaceLocations InvitationsPromotions Promotions 25 60% Profile Complete 500pts + 4,000pts20 days This is a Campaign Title to see. 500pts + 4,000pts20 days This is a Campaign Title to see. 500pts + 4,000pts20 days This is a Campaign Title to see. 500pts + 4,000pts20 days This is a Campaign Title to see. Promotions Locations Invitations Marketplace Profile Activity Messages Bryan Kemp 11,450 pts Bryan Kemp Cuff Supply Co. Product Title Redeem 4,000 pts Product Title Redeem 4,000 pts Product Title Redeem 4,000 pts Product Title Redeem 4,000 pts All Products Marketplace 42%Sketch 9:41 AM You have a total of 12,000pts Filter MarketplaceLocations InvitationsPromotions Cuff Supply Co. Product Title Redeem 4,000 pts Product Title Redeem 4,000 pts Product Title Redeem 4,000 pts Product Title Redeem 4,000 pts All Products Marketplace 42%Sketch 9:41 AM You have a total of 12,000pts Filter MarketplaceLocations InvitationsPromotions Cuff Supply Co. Product Title Redeem 4,000 pts Product Title Redeem 4,000 pts Product Title Redeem 4,000 pts Product Title Redeem 4,000 pts All Products Marketplace 42%Sketch 9:41 AM You have a total of 12,000pts Filter MarketplaceLocations InvitationsPromotions
- 3. #CPGadvocacy facebook.com/spendsetter @spendsetterapp gplus.to/spendsetter pinterest.com/spendsetter linkedin.com/company/spendsetter
- 4. #CPGadvocacy
- 5. #CPGadvocacy The CPG Industry CPG industry generates revenues of more than $2 trillion annually in the US alone (Source: Forrester Research) $2T
- 6. The Changing CPG Landscape
- 7. Social Media Source: EdgeRank Checker / Internet Retailer Facebook Cuts Brands’ Reach Once Again “Facebook said it made the decision to cut the reach of brands’ promotional posts following a user survey” “Facebook is becoming even more pay-to-play” Facebook Organic Reach Decline
- 8. #CPGadvocacy Social Media 83% of people say they like - or even love - when a company responds to them on social. (Source: ExactTarget) It is critical for brands to engage with customers who reach out on social. 83%
- 9. #CPGadvocacy Mobile - Reinventing Communication Americans have an average of 3.1 connected devices (Source: Statista) 3.1
- 10. #CPGadvocacy Mobile YoY Growth Of E-Commerce Sales By Purchase Device US, 2014/2013 122% 15% 97% 12% Consumer Packaged Goods Digital Content Source: comScore
- 11. #CPGadvocacy Online Reviews 72% of consumers say that positive reviews make them trust a local business more. (Source: Search Engine Land) 72% 88% of consumers trust online reviews as much as personal recommendations. (Source: Search Engine Land) 88%
- 12. #CPGadvocacy Millennials vs Baby Boomers Millennials Baby Boomer • Quality • Corporate Responsibility • Transparency • Quality • Convenience • Price Point vs.
- 13. CPG & Loyalty
- 14. #CPGadvocacy Challenges to Customer Acquisition Traditionally, CPG brands have had to rely on coupons & brand awareness CPG Retailer Consumer
- 15. #CPGadvocacy New Ways Brands Acquire Customers • Pick Strategic Distributors • On April 6th Kind Bars Partnered with Starbucks to give away a free bar with the purchase of a coffee. • They strive to make their employees super fans of the brand.
- 16. #CPGadvocacy New Ways Brands Acquire Customers • Loyalty: My Coke Rewards • Personalization: Share a Coke • UGC: Don’t underestimate the selfie.
- 17. Loyalty VS Advocacy Advocacy (reach new customers through your fans) Loyalty (retain existing customers)
- 18. #CPGadvocacy Who Can Be An Advocate? Employee Customer Influencer Endorser
- 19. Ways to Increase Advocacy
- 20. #CPGadvocacy Be Responsive Acknowledge followers on social – Respond to Tweets, Mentions, Posts, etc. 71% of those who experience positive social care are likely to recommend that brand to others. (Source: NM Incite Social Care Survey) 71%1 2 3 4 Be Responsive Get Advocates Involved Get Advocate Feedback Turn Employees into Advocates 5 Turn Employees into Advocates Additional Option
- 21. #CPGadvocacy Get Advocates Involved Run promotions that get fans involved 1 2 3 4 Be Responsive Get Advocates Involved Get Advocate Feedback Turn Employees into Advocates 5 Turn Employees into Advocates Additional Option
- 22. #CPGadvocacy Get Advocate Feedback Generate direct feedback from advocates by letting them give their opinion and cast votes 1 2 3 4 Be Responsive Get Advocates Involved Get Advocate Feedback 5 Turn Employees into Advocates Additional Option Turn Employees into Advocates
- 23. #CPGadvocacy Turn Employees Into Advocates CPG companies have large employee bases – Turn them into advocates! 1 2 3 4 Be Responsive Get Advocates Involved Get Advocate Feedback Turn Employees into Advocates 5 Turn Employees into Advocates Additional Option
- 24. #CPGadvocacy Turn a Negative Into a Positive If someone reaches out with a poor experience, go over and beyond to make it up to them. US brands are losing approximately $41 Billion each year due to poor customer service. (Source: NewVoiceMedia Study) 1 2 3 4 Be Responsive Get Advocates Involved Get Advocate Feedback Turn Employees into Advocates 5 Turn Employees into Advocates Additional Option
- 25. #CPGadvocacy Additional Option: Advocacy Program Create an actual program around your advocates Cuff Supply Co. Product Title Redeem 4,000 pts Product Title Redeem 4,000 pts Product Title Redeem 4,000 pts Product Title Redeem 4,000 pts All Products Marketplace 42%Sketch 9:41 AM You have a total of 12,000pts Filter MarketplaceLocations InvitationsPromotions Cuff Supply Co. Product Title Redeem 4,000 pts Product Title Redeem 4,000 pts Product Title Redeem 4,000 pts Product Title Redeem 4,000 pts All Products Marketplace 42%Sketch 9:41 AM You have a total of 12,000pts Filter MarketplaceLocations InvitationsPromotions 1 2 3 4 Be Responsive Get Advocates Involved Get Advocate Feedback Turn Employees into Advocates 5 Turn Employees into Advocates Additional Option