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Opening Remarks

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Steve Smith opens the Brand Insider Summit - CPG

Published in: Marketing
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Opening Remarks

  1. 1. Most Challenging Change in the Customer Journey for Your Marketing Plan? ● It’s nothing new, but the continued fragmentation of media consumption makes it harder to choose where to place limited budgets. Traditional media planning tools are less relevant by the day and the measurement of each channel/platform is different ● The most challenging aspect is that there are now so many disparate channels that is hard to drive relatively efficient awareness
  2. 2. Most Challenging Change in the Customer Journey for Your Marketing Plan? ● Historically, we could run a national TV campaign to launch a brand, product or update and we could deliver awareness that would eventually lead to efficient conversion. Now, we have a wide array of awareness tactics and our overall efficiency has suffered, particularly when we measure long term conversion ● Mobile…More sessions. Generally crappy experience (regardless of retailer or platform). Lower conversion. It’s both dictating and harming business goals all at the same time
  3. 3. Most Challenging Change in the Customer Journey for Your Marketing Plan? ● Discovering the proper audiences to target and what platforms are engaging the most ● Attribution and connectivity across all the touch-points ● The continued shift of power (both in terms of choice and information accessibility) toward the consumer. There are more potential journeys and opportunities for a brand to add meaningful value than there is time and $$ to build those positive experiences.
  4. 4. New Marketing Channel That Has Proven Most Successful for Breaking Through the Brand Clutter? ● I believe Instagram. Very interested in Pinterest and outside social. ● I think out of home is very cool ● People that are engaging with our website ● We’re probably not going to be at the bleeding edge of ‘new channels’, but we’ve seen some decent traction from YouTube. We’ve seen a few ‘boosts’ of viralness beyond our spends.
  5. 5. New Marketing Channel That Has Proven Most Successful for Breaking Through the Brand Clutter? ● Paid Search, particularly Retail Paid Search has been effective at breaking through the clutter ● Compare online search to shelving in-store, being on the first page of results is the equivalent to getting placement on shelf. Being in the first three spots of search would be the equivalent of premium placement on shelf plus feature and display like an end cap. Anything outside of that you might as well be shelved in the back warehouse because no one is going to see it
  6. 6. New Marketing Channel That Has Proven Most Successful for Breaking Through the Brand Clutter? ● Influencer Marketing (with many caveats) helps deliver a message in a more direct and authentic way. However, it is often the least measurable for CPG ● It isn’t new, but it seems to be turning over a new leaf and experiencing a resurgence: Affiliates
  7. 7. ● Social Advocacy programs may not generate the most data, but it is perhaps the best quality because the participants are highly engaged with the brand. While their reach may not be massive, it makes for an excellent source of lookalike modeling ● People that are engaging with our website ● Social media and search Most Successful Effort/Channel for Gathering 1st Party Data on Your Customers?
  8. 8. ● Members only sales that force customers to login/sign up to see the deals (and by default…authenticate their ID) ● A trial program has been pretty successful. There’s quite a risk in our category to switching, and we’ve been able to find new customer by offering a classic trial. ● We typically tie it to a coupon or a sale. We have made some efforts in going after quality 1st party data or quality leads vs. just any old data set or lead. Most Successful Effort/Channel for Gathering 1st Party Data on Your Customers?
  9. 9. ● All of the above! Our business is growing on Amazon but still is less profitable than a lot of other retailers. In some aspects they are a threat with things like private label. They are also a threat that they are growing faster than some of our more profitable retailers. They are a frenemy in that they are less profitable but they are also a great partner for growth, long term bets and innovation so certainly a necessary evil. Amazon – Threat? Frenemy? Helpful Marketing Partner?
  10. 10. ● Amazon is a great source of sales growth, but it also creates an easy opportunity for competitors – especially upstarts – to erode consumer confidence and market share. ● Helpful marketing partner ● Currently very bad but we believe we know what we need to do and see the opportunity with Amazon. Amazon must become a priority Amazon – Threat? Frenemy? Helpful Marketing Partner?
  11. 11. ● Amazon Advertising is sucking budget away from other channels due to a need for “defense” rather than confidently profitable growth. Managing Amazon content is also important, but consumes time and resources. ● They have been a helpful marketing partner with solid targeting options, Amazon DSP and a strong retail search offer (especially when considering their large audience and large search volumes). Amazon – Threat? Frenemy? Helpful Marketing Partner?
  12. 12. Most Overhyped or Disappointing Channel or Platform You Have Tried Recently? ● That’s a toss-up. Without solid measurement, Native Advertising is hard to declare successful. In many cases it simply drives cheap, but low quality web traffic. ● I’d also say Shoppable Ads are not delivering much, but that may be a category thing.
  13. 13. Most Overhyped or Disappointing Channel or Platform You Have Tried Recently? ● I have been disappointed with Walmart Media Group, particularly in their transition away from Triad. There have been major hiccups along the road, customer service has declined, the offer hasn’t improved but the expectations are significantly higher. All in all not a great combination.
  14. 14. Most Overhyped or Disappointing Channel or Platform You Have Tried Recently? ● Twitter ● Programmatic ● I don’t think this answer has changed in the past 10 year: Display. I say this thru the DTC lens, but unless you’re a large, Brand-forward company…it’s just hard to prove that it works.
  15. 15. Most Overhyped or Disappointing Channel or Platform You Have Tried Recently? ● Voice search. As should have probably been expected, suffers from the same problem as mobile apps. Very hard to get and sustain adoption.
  16. 16. Most Overhyped or Disappointing Channel or Platform You Have Tried Recently? ● Voice in general has been a bit overhyped. There are limited advertising opportunities, even less reporting and, in general, consumers are mainly using the devices to listen to music and set timers. There has been a lot invested to build skills and other rich consumer experiences but really, the consumer hasn’t changed habits (yet). This may change as we have seen Amazon start to open up advertising through audio on Alexa devices and this could continue to grow over time. Particularly as the ads come through music which has been the most used aspect of the voice enabled devices.

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