4 Ways for Consumer Goods Brands to Win in the Age of Relevance

The global pandemic has placed an enormous amount of stress and uncertainty on the consumer products industry, already struggling to adapt to rapidly changing consumer behaviors, the emergence of new digital channels, and increasing market competition.   Successful companies have been the ones who have found opportunities to deliver something that is “just right” for each individual consumer at every key moment, creating relevance in ways that far exceed the direct value of the products they sell.  

As we approach the first-year anniversary of the coronavirus outbreak in the U.S., the time is now for consumer products companies to rethink their consumer and channel strategies in ways that will deliver maximum consumer impact and ensure competitive advantage now and in the future. Having a great product and strong retail partnerships is no longer enough to build and maintain consumer relationships given the abundance of product choice that consumers have today.

Consumer goods companies must gain control of the end-to-end consumer journey and deliver experiences that create meaningful value for consumers wherever, whenever and however they desire.

The events of the last 12 months left many people feeling vulnerable and uncertain, resulting in a propensity for consumers to turn to companies that demonstrate how well they understand them as an individual including their underlying needs, values and preferences. A global consumer survey conducted by Publicis Sapient several weeks into the pandemic revealed that 29% of consumers would be much more likely to purchase a product that was customized or personalized to their needs while one in three (33%) indicated a greater likelihood to buy products from a company or brand that was aligned to their values.

Today’s consumers expect brands to know them inside out — and use that knowledge to deliver authentic products and services that bring convenience along with experiences that embody the brand purpose they’ve bought into. As competition heats up across the sector and with a greater focus on direct-to-consumer (DTC) engagement models, CG companies can no longer rely on ad-hoc, campaign activity to establish and maintain meaningful connections to their consumers.

Instead, CG brands will need to think beyond the products they sell and drive consumer loyalty and advocacy by providing highly relevant, context-specific experiences at high demand moments across the consumer journey.

Successful CG companies achieve relevance in a variety of ways, each rooted in a deep understanding of the consumer, the ability to anticipate their needs, and an appreciation of what makes them act in key moments.  

1. Reducing decision complexity

Consumers are researching things they wouldn’t normally have researched in the past, considering more options across all products than they used to, and carrying that consideration with them into their planning. Helping consumers navigate their way through a complex purchase process is a compelling way for brands to build trust and relevance with the consumer.

Keurig’s product recommendation engine, which advises consumers on the right coffee or tea for them based on previous purchases and stated preferences and goals, is one example of how brands are increasing relevance in this manner.