3 Ways CPGs Can Grow Market Share, Meet Customer Needs and Share Their Story

I never thought 2020 would have me hoarding flour, but the pandemic has completely changed how people discover, shop and buy products. Trips to the store are now less about browsing and more akin to a tactical mission—run in, cross off your list with what’s available and get out. And that’s if you’re even going to the store.

Not only have people changed their shopping behaviors, but research shows that brand loyalty has taken a backseat to availability and price. A Facebook-commissioned study conducted between August and September 2020 also found that more than one in three CPG shoppers in the U.S. has tried new brands and products over the past six months.

Retaining your current consumers and attracting new ones is more important than ever. So, what’s a marketer to do? To answer this question, Facebook’s Creative Shop studied key factors to understand the relationship between creative and media associated with increasing share.

Based on these findings, here are three ways to keep consumer preference pointed in your direction:

1. Drive discovery and nail the trial

Among U.S. online shoppers surveyed, 84% say they discover new brands or products online. When asked which sites typically drive their discovery, the Facebook family of apps and services was at the top of the list, according to a Facebook-commissioned GFK study.

With people spending more time online, brands can meet people where they are and seamlessly drive product discovery. At Facebook, we call this “discovery commerce” and it’s all about helping the right products find the right people. For example, I used to lead a large manufacturer’s body wash category and knew that smelling the different variants was key to getting people to try new products. With Facebook, we created serendipitous shopping experiences by targeting people likely to switch and guiding them to the shelf.

According to research from Facebook’s Creative Shop, brands that found innovative ways to introduce limited-time offers or get people engaged through promotions and contests drove a higher household penetration lift than those who didn’t. In addition to enticing shoppers with deals, you can direct them to a preferred retailer or ecommerce website for an effortless purchase experience.

2. Boost relevance

From wellness to comfort and affordability, new needs influence what people buy. As these behaviors will likely last long after the pandemic, brands should be conscious of what their consumers’ needs are and how they can realign their products and messaging to boost relevance.

With the rise of creators, it’s easier than ever to have someone speak to your consumer in a relatable voice. Influencers intimately understand their audiences and can connect with them in authentic ways. And using branded content works. Brands that used influencer content or an endorsement in their creative in a way that differentiated their brand saw a higher household penetration lift, according to a Facebook analysis.

Whether it’s through an exciting recipe, a make-up tutorial or a day-in-the-life story, creators can help you build relevance for your product via compelling storytelling and visuals that resonate.

Speaking of storytelling, long-form content is an effective way to captivate consumers and share your brand’s story. Mars Wrigley has been at the forefront of understanding what video solutions work the hardest to drive household penetration. With Facebook’s In-Stream video solution featuring Extra Gum, Mars Wrigley drove a ROAS greater than $1 and generated 20% of sales from new buyers.

3. Make your campaigns work together

The power of Facebook’s platform allows marketers to run multiple messages at once to help connect with shoppers and stay at the top of their consideration set. With multiple campaigns, brands can share their story and values in one campaign and highlight new usage occasions in another.

Facebook’s video solutions can help you drive awareness and sales volume. To increase awareness, consider long-form video like In-Stream, where you can share longer branded stories. You can also leverage Feed Videos and Stories to share shorter, punchy messages that can help achieve TV-like sales volume.

By adopting these three tactics, you have a greater opportunity to meet customers’ evolving needs, share your story and grow share.

For more inspiration visit facebook.com/business/industries/consumer-goods/