Consumer product goods
Better promotion strategy
Lify’s data can help CPG companies to create a stronger connection with individual customers, by giving them the ability to customize their message and offerings for different segments in new ways.
According to Harvard Business School professor Clayton Christensen, out of 30,000 new consumer products launched each year, 95% fail because of ineffective market segmentation1. This happens because the consumer base is becoming increasingly more diverse, therefore one (marketing approach) size does not fit all. CPG companies need to learn to adapt to more targeted marketing to reap the rewards of brand loyalty from different segments.
As simple as buying anything else online; sign up, log in to the marketplace and select the data you would like to purchase.
For example, a baby products company could target newborns’ moms and dads, crafting their communication style and the products offered based on their income, work, social media used, age and other information to obtain the most conversions.
CPG companies can also make it easier for customers to purchase their products by offering customized coupons to buy the product in the store where they usually shop or offer other personalized promotions.
Similar approaches could be applied for food and beverage, household items and other consumer goods.
Consumers today increasingly desire to have an intimate, personalized relationship with their favorite brands.
With Lify’s detailed and always-updated data, you can do exactly that, getting to know your individual customers at a deeper level and personalizing your offers and communications based on their preferences.
All this will lead to higher sales and an increased customer satisfaction towards your brand.