CDP Use Cases: Unlock Your CPG’s Growth Potential with Customer Data
Empowered consumers are changing the consumer packaged goods (CPG) landscape.
Gone are the days when CPG companies could rely on retailers to bring in sales and mediate relationships between brands and customers. Now, consumers demand personalized experiences, as well as more opportunities to curate, co-create, and navigate their own customer journey. They’re also taking more control of their data by maintaining the ability to turn on and off ad blockers, location services, and other attempts to get their attention.
Consumers are also using their purchasing power to assert social influence, and choosing brands that align with their values. Nearly three-quarters of consumers say they are likely to buy products from brands that reflect their values, and 58% believe that calling out others on social media is more likely to hold people, and companies, accountable.
CPGs Face Challenges to Meet Consumer Demand
CPGs must transform how they market and interact with consumers to adapt to these new standards, while also facing significant business challenges. Whether it’s digital disruption to supply chain issues, labor shortages, more competitors in the marketplace, or rising inflation, CPGs have a lot they are trying to manage.
Organizational Readiness Impacts Growth
The biggest challenge facing CPGs is simply organizational readiness. Many CPGs are flying blind, with gaps in their customer data. Historically, CPGs have had limited access to customer data. However, as CPGs focus on building direct-to-consumer (DTC) models to stay competitive, they’ve found that the retailer data shared with them is often not enough. This makes it hard to create direct connections with consumers, or to understand the full customer journey.
As a result, CPG leaders are sometimes forced to make business-critical decisions without adequate data. Insufficient tools and legacy data infrastructure limit the ability to integrate new data sources into a centralized system. Decentralized organizational structures also make it difficult to gather and share data across different departments, while large and complex product portfolios make tracking customer behavior and preferences quite challenging.
The Power of Connected Customer Experiences
The CPG industry may be challenging given pressures it’s facing. To remain competitive, it’s important for CPGs to continue to scale and future-proof their businesses, so that regardless of what happens, they have an infrastructure that is solid and agile enough to quickly adapt to change.
There is an undisputed impact of having a strong data foundation that can be used to drive decisioning, customer experience, and loyalty. With Treasure Data’s Customer Data Cloud, you can go further faster by fueling customer-centric decisions across your entire brand portfolio, while driving more efficiency in your marketing efforts, and across the entire global enterprise.
We’ve put together a comprehensive guide that breaks down more than 20 unique ways CPG leaders are using Treasure Data to drive business value. Click on the link below to explore what’s possible.