Digital Marketing for FMCG Companies is changing the image of promoting FMCG Industries all over the world. The world is teeming with people who work tirelessly for industries or businesses. However, if we refer to the entire mass marketing industry, it is the only one, i.e., FMCG Company (Fast Moving Consumer Goods). In terms of mass media marketing, no other companies can compete with the FMCG Industries. As a result, FMCG sales are reliant on marketing. If they require assistance, most people nowadays look for it online.
As a result, digital marketing for FMCG companies will increase engagement, expand their reach, and boost business growth. With the advancement of technology, the trend of doing things online has surpassed that of doing things offline. So, what steps should the FMCG sector take in this context? The concept is extremely simple because the industry sees online-medium as an additional medium to interact with customers in addition to offline sales.
Online media is altering the landscape for marketers everywhere, particularly in the FMCG sector. Campaigns for FMCG goods typically rely on determining the best marketing mix of the four Ps (Product, Price, Place, and Promotion) to influence the target audience’s purchase decisions. Today, however, consumers make different purchasing decisions, and as a result, strategies aimed at influencing this process must evolve as well.
Customers are now more exposed to their phone and laptop screens than to traditional media such as television, newspapers, and billboards. In addition, an increasing number of consumers prefer to buy FMCG products online rather than in a physical store. In line with a report by Google and Bain & Company Online marketing influences $11 billion, or two-thirds of total sales in beauty and hygiene products. A strong digital marketing strategy is essential for FMCG brands in today’s digital era.
Adapting the 4 P’s for Digital Marketing
Digital marketing for FMCG companies does not imply abandoning the tried-and-true four P’s that have long been considered the holy grail of marketing. Instead, it entails modifying the marketing mix for FMCG products in order to bring them into the modern era. Digital marketing trends in FMCG enable marketers to not only capture the buyer at the final buying stage but also to establish a relationship with them from the start, which was previously impossible. This necessitates marketers developing a comprehensive FMCG digital strategy in order to not only influence but also personally engage, their customers.
Digital Marketing Services are extremely beneficial. Some of the advantages are as follows:
- According to industry reports, online customers spend more on FMCG companies than offline customers. Digitalization will have a 65 percent impact on FMCG consumption by 2020. As a result, investing in digital marketing for FMCG companies may be a wise decision.
- Because people prefer to buy FMCG products from well-established companies, digital marketing is the most cost-effective way for new players in the FMCG industry to compete with well-established players.
- The FMCG industry has a plethora of similar products on the market. It is extremely difficult to sell a product unless it is innovative. As a result, marketing is critical in increasing sales. Notably, when compared to traditional marketing, digital marketing has the potential to reach the greatest number of the target market with the least amount of investment.
- Digital marketing is a platform that allows you to promote your brand 24 hours a day, seven days a week. Thus, with the help of digital marketing, it is possible to easily reach billions of FMCG customers worldwide.
- By having a strong presence on social media, digital marketing helps to raise brand awareness. Additionally, online conversations enable marketers to identify current FMCG trends, analyze consumer behavior, improve customer satisfaction, simplify performance tracking, and broaden the scope for future improvement.
- Digital marketing aids in identifying potential FMCG influencers on social media. You can easily choose the right influencer for your target market by recognizing influencers based on their qualifications, popularity, and social media followers.
- Instead of ‘selling’ a product, digital marketing ‘notifies’ it. It is extremely beneficial, particularly for FMCG consumers who dislike being “forced” to purchase a product.
- Digital marketing aids in the identification of FMCG competitors and their strategies for attracting consumers via social media activities.
How FMCG Brands Can Benefit from Digital Marketing?
Brands benefit greatly from incorporating a strong digital marketing strategy into their overall marketing mix.
It helps distinguish your brand
The FMCG sector is distinguished by a large number of similar products, providing consumers with a diverse selection from which to choose. One of the most important benefits of implementing a good digital marketing strategy is that it assists brands in developing a distinct brand identity. This assists consumers in developing a strong opinion of the brand, which can ultimately influence their purchasing decision.
It provides a new way to display your brand
Traditionally, the most important factor influencing purchase decisions in FMCG product marketing was product display. Consumers are visual creatures, so the more appealing your packaging, the more likely it will be noticed by them. Digital marketing for FMCG companies will be approached in a similar manner as a virtual shelf display. It’s more than just an effective physical display because it allows you to reach out to your specific targeted consumers, making your overall marketing strategy less expensive. This provides top-of-mind awareness, which may influence purchasing decisions. Digital marketing also enables you to contextualize the positioning of your products. You will showcase your products while consumers browse through similar categories using tools such as AdWords Smart Display and Social-Media. As an example, if you’re a skincare brand, you’ll place ads next to beauty blogs that your customers are reading.
It Allows You to achieve Consumer Insights and Increase ROI
One of the most significant advantages of digital marketing over traditional marketing is its ability to track every aspect of your marketing efforts. FMCG companies spend a lot of money on hoardings, TV commercials, print ads, radio ads, and other forms of advertising. However, the effectiveness of these campaigns is extremely difficult to assess.
While speculative figures are generated, there is no way to reach a firm conclusion. In contrast, internet marketing allows you to track and measure every aspect of your campaign. Brands can recover data on a variety of impressions, clicks, conversions, and other metrics with the help of analytic tools. It also allows them to determine which advertisement prompted the consumer to make the purchase. Advanced analytics can even provide you with in-depth consumer insights. This will assist you in developing campaigns and content that your target audience will find interesting. With the ease of tracking digital marketing offers, FMCG brands can refine and reduce the cost of their strategies.
Mobile usage is only getting to grow from here
Offline purchases may still account for the majority of FMCG sales, but mobile phones are here to stay in the long run. Almost every segment of the Indian population has access to mobile phones and high-speed, low-cost internet. A large portion of Indian consumers buy FMCG products online through various apps, and this number is only increasing. FMCG digital marketing trends must keep up with the growing number of consumers who prefer to buy online.
Here are five quick tips to get you started!
1) Set targets
As with any digital marketing campaign, you should know what you want to achieve and what you’re getting in return. Too often, brands spend money on campaigns without knowing what success looks like or what they’re getting for their money. Because many FMCG brands do not sell products directly on their websites, it is impossible to calculate an immediate ROI. Unfortunately, this will result in sloppy strategies with limited performance metrics.
Even if you don’t have the ability to track revenue, we recommend setting goals based on a variety of indicators (depending on the channels used), such as;
- Traffic Increases
- Time on Site
- Bounce Rate
- Social Engagement
- Organic Ranking
- Improvements
2) Research your audience
Any type of marketing requires audience research. From a digital standpoint, this is frequently especially important when developing content strategies. A common mistake we see is that brands take a “one size fits all” approach to content marketing, creating one piece of content in the hopes of engaging their entire audience.
We work with brands to create multiple audience profiles, dividing audiences into different target segments, at 8 Million Stories. From here, we will develop a better understanding of the following factors:
- What kinds of content do audience segments typically engage with?
- What topics are of interest?
- What keywords are they searching for?
- What social platforms do they use?
- When are they online and etc?
3) Own your own brand space
After you’ve determined who your target audience is and established your goals, the next step is to ensure that you own your brand space. This includes more than just purchasing the relevant URL, creating Facebook and Twitter accounts, and relying on your development agency to “take care of SEO.” Owning your brand space from an SEO standpoint will require some work from an organic standpoint, and if competitors are bidding on your brand in the paid realm of digital, it is very damaging.
Your own brand space, along with your content strategy and SEO, should be seamlessly linked to ensure that you consistently own that real estate and reach your customers with relevant and engaging messaging.
4) Don’t waste money on poorly targeted paid media campaigns
Would you want to spend money on a television commercial that ran on a channel that did not reach your target demographic? Although it appears obvious, FMCG brands are among the worst when it comes to poorly targeted paid media campaigns, in our experience.
Spending time lining up carefully targeted audience segments in Facebook advertising should go without saying – but make an effort to use Google’s various bid modifiers as well. If you recognize that your core audience segment is females aged 45-65, then adjust your bids to spend more on consumers who are more likely to engage with your brand as a group, rather than spending large percentages of your budget on 18-year-old males.
5) Don’t sell your product on-site? Integrate someone who does…
One of the reasons we see FMCG brands deprioritizing digital marketing is that they don’t sell their products directly online, so they can’t tie results back to an immediate ROI like travel or retail brands can. Consumers, on the other hand, are purchasing FMCG products online.
Digital Marketing’s Impact on FMCG Companies is Already Visible. And, in terms of digital marketing, BDigitally may be a premier service with proven results. Our services are extremely enthusiastic about utilizing the web’s capability to give rise to any business. If you’re looking for ways to increase brand awareness, BDigitally will assist you in bringing the right audience to your business.