Pushing traditional media through new media channels is no longer
enough to succeed in today’s Consumer Goods market. A new approach is
needed - one that puts brands wherever consumers are, in a way that
encourages consumer participation. CG manufacturers need to increase
their engagement with consumers and improve their direct-to-consumer
initiatives. They are now aggressively exploring ways to integrate new
channels and adopting strategies, processes, and technologies so they
can act more like retailers.
Sponsored by Oracle, The Economist published an Economist Intelligence Unit report titled New Directions: Consumer goods companies hone a cross-channel approach to consumer marketing. The study is the result of a global survey of 221 consumer goods (CG) executives.
Brandchannel, an online exchange dedicated to branding, wrote their perspective on the study:
Goods companies need to think and act more their retail partners as
their participation in social media and online storefronts increase.
The Economist Intelligence Unit report, New Directions, sponsored by
Oracle, reveals that 41% of respondents surveyed plan to sell products
directly to consumers in 2012, a 24% increase over those currently
offering direct sales.
“Consumer goods companies can no longer
merely push traditional campaigns through new media channels to reach
today's more product-savvy consumer. They need to integrate multiple
channels to put brands where consumers are, in a way that encourages a
more interactive relationship between consumer and producer, not passive
consumption of marketing messages.”
Key findings include:
- The social media opportunity is finally catching the attention of
senior management: 74% of CEO-level respondents say social media is a
priority for increasing loyalty over the next 12 months
- Nearly a quarter of CG executives envisage direct-to-consumer replacing retail.
- Nearly half of survey respondents and other CG executives see
their nascent e-commerce efforts as complementary to, rather than
alternatives to, existing retail channels
Another perspective on the same study can be found here