The past decade has brought upon technological advances beyond what society even thought possible. It’s no surprise that the next 10 years look to do the same. In 2020, the food industry will need to embrace consumer trends and make decisions based on available data. It is critical for brands to elevate their digital presence through social media and SEO. Above all, brands in any industry need to be customer-centric and focusing on things that matter most: being transparent, sustainable and health-conscious.
Elevate Your Digital Presence
Consumers are changing the way that they research and shop for products. “32% of people turn to social media when looking for more information about a product or brand,” according to Ignite Social Media, and Adaptly says “millennials are 1.6x more likely to learn about a new product on social media.” It is critical for any company to have a digital presence to make the brand more discoverable, boost brand sentiment, and provide customer service. Consumers are taking to social media with product reviews, questions, and complaints now more than ever.
Beyond social media, your website must be fast-loading and easy to navigate. When a user lands on your site, you want to keep them on it long enough to persuade a sale. Ensuring that your website is search engine optimized is critical so that web-users can find your page easier via search engines. Backlinkio has a helpful guide to get your website high in the search rankings.
“Only 7% of retailers surveyed believe they have the skill sets to succeed in digital compared to 22% of manufacturers,” according to FMI.org. Amplifying your digital efforts can give you an advantage over your competitors.
Offer a Subscription Service
“Subscription e-commerce has grown by 100% in the past five years and over one-third of Americans plan on subscribing to a CPG delivery service in the future,” says Intuiti.com. Consumers can discover your product in a number of ways but offering a subscription service is the easiest way to keep them coming back. “Accounting for roughly 32% of e-commerce subscriptions, product refill subscriptions replenish the same or a similar item on a recurring basis and a specified period of time,” according to Evokad.com.
Make Data-Driven Decisions
With trends moving more and more towards digital, it may seem like shoppers are avoiding stores. This is not the case. A study from Coresight “found that 41% of shoppers bought ‘a small amount’ and 31.4% purchased ‘almost none’ of their groceries online in the past year.” The survey shows food brands shouldn’t shy away from hosting demo events in grocery stores. Your sales and marketing strategy should include a mix of digital and traditional channels to reach a broader target audience.
However, one of the challenges holding food brands back is their lack of post-event analysis. Many organizations are still utilizing spreadsheets to monitor demo events and this data can be clunky or insufficient. There are multiple factors to consider when determining the success of a trade promotion and it’s important to analyze as much data as possible. The more data you have, the smarter your insights will be.
Analyzing data from demos, surveys, social media and online interactions, can help you to better understand your shoppers, where they are in the sales journey and the sentiments they have toward your brand. Your messaging and positioning should be tailored to each customer persona, allowing you to resonate better with your audience. Continue to put your efforts into channels that are the most successful and turn off anything that isn’t helping you reach your goals. Your data should be your guide in making business decisions.
In any industry, the customer is always top of mind and as consumer behaviors change, companies must adapt. Millennials make up the majority of today’s consumers and this generation believes in corporate responsibility. They trust brands that are honest about their food sources, the benefits of the product and sustainability efforts. These health-conscious consumers want to know exactly what they are putting into their bodies. Clearly labeling your products and promoting its’ benefits can help you resonate with customers and boost sales.
We wish you and look forward to a prosperous year! Click here to get started with your end-to-end demo management and advanced analytics today.