Curtailing Marketing Spend and Enhancing Sales Revenue for a CPG Company – Infiniti’s Marketing and Sales Strategy Engagement
Marketing and Sales Strategy for a CPG Company The digital landscape has reshaped the way consumer packaged goods (CPG) companies market their products. Also, the accelerated growth of digital technologies and market advancements have brought about major shifts in marketing approaches of CPG companies. Today, CPG companies are focusing more on selling directly to customers. [...]READ MORE >>
Marketing and Sales Strategy for a CPG Company
The digital landscape has reshaped the way consumer packaged goods (CPG) companies market their products. Also, the accelerated growth of digital technologies and market advancements have brought about major shifts in marketing approaches of CPG companies. Today, CPG companies are focusing more on selling directly to customers. Therefore, formulating a marketing and sales strategy to promote product offerings is becoming vital to stand out in today’s CPG market.
The client is a well-known CPG company based out of the Central United States. As major CPG giants in the United States were shifting their focus from direct store delivery (DSD) model to direct to consumer (D2C) model, the client was facing difficulties in reaching out to their customer base. Also, this resulted in a huge dip in their sales rate and the client was losing market share to competitors. The client, therefore, realized that their traditional marketing and sales strategy can no longer help them in today’s competitive marketplace. Therefore, they approached Infiniti Research to leverage their expertise in formulating a marketing and sales strategy.
With Infiniti’s marketing and sales strategy, the client wanted to:
Increase visibility – The client wanted to identify the platforms that their customer segments were actively using for product purchases. With this, they wanted to focus more on those platforms to reach a large pool of prospective customers.
Reduce marketing spend – Without thorough knowledge about the target market and customers, the client spent a huge budget in advertising on press and media. However, this did not generate a huge sale. Therefore, the company encountered a huge loss in their marketing budget. With Infiniti’s marketing and sales strategy, the client wanted to cut down on their marketing spend and optimally utilize their resources.
Cater to the customer needs – The client wanted to understand their customers’ needs and diversify their sales channel to effectively reach them.
Formulate targeted approach – By formulating a targeted marketing and sales strategy, the CPG company wanted to develop a consistent level of brand recognition amongst the target segments.
Solutions Offered and Results Obtained
To help the client formulate an efficient marketing and sales strategy, the experts at Infiniti Research followed a four-phased approach. Firstly, the experts analyzed the needs and purchasing platforms of the client’s target customers and segmented them into various groups based upon their characteristics and needs. In the next phase of the engagement, the experts conducted an optimized multi-channel campaign and monitored the incremental sales lift in comparison to a single channel campaign. The third phase involved tracking and analyzing channels that brought maximum engagement and sales. In the last phase of the engagement, the experts formulated an effective marketing and sales strategy for the client based on the insights obtained from the engagement.
With Infiniti’s marketing strategy, the experts at Infiniti Research helped the client to formulate an efficient marketing and sales strategy to promote their consumer packaged goods. Based on the insights obtained, the experts at Infiniti Research recommended the client to focus on developing multi-channel campaigns to reach their customer base. This improvised the sales and further helped the client to align their business strategies to the expectations of their customer segments. In addition, with Infiniti’s marketing strategy, the client was able to curtail the marketing spend and reach a large pool of prospective customers.
Also, the formulated marketing and sales strategy helped the client to:
- Cater to the needs of the customer base
- Improve operational efficiency and enhance sales
- Boost customer experience by focusing on customers’ key priorities and needs
- Improve sales revenue by 12% within one year
How to Develop a Marketing and Sales Strategy
Developing a marketing and sales strategy involves thorough market research and analysis. It also involves analyzing the target customers, monitoring their purchasing patterns and preferred channels, and understanding how your company fits in the marketplace. Let’s have a look at the steps involved in creating a marketing and sales strategy.