A research programme sponsored by Oracle
Consumer goods (CG) manufacturers are aggressively exploring ways to integrate new channels such as social media and mobile into the marketing mix to attract and engage consumers. At the same time, however, they are not ready to abandon traditional approaches to consumer marketing. CG marketers say they want to increase engagement with consumers – but are they really ready to do so?
“New directions: consumer goods companies hone a cross-channel approach to consumer marketing”, an Economist Intelligence Unit report sponsored by Oracle, draws on a survey of 221 CG executives as well as in-depth interviews with corporate leaders in the CG industry to explore the changing face of marketing and selling to end consumers. Key findings in our research include the following:
- Pushing traditional media through new media channels is not enough to reach today’s more plugged-in, product-savvy consumer.
- CG companies are experimenting with new ways to establish and enhance direct, two-way relationships with their target consumers across multiple channels.
- Vibrant online communities can serve as an entrée into e-commerce and other direct-to-consumer sales for CG manufacturers that have traditionally sold through third-party retail channels.
- Survey respondents and other CG executives see their nascent e-commerce efforts as complimentary to, not competing with, existing retail channels.
- An increasingly complex relationship between CG manufacturers and their retail partners is just one example of the evolving nature of CG makers’ direct-to-consumer marketing efforts.