The biggest challenge for CPG industry leaders currently is understanding how the economic volatility can impact consumer spending and their changing personal connections to brands. As brands continue to be conservative with their marketing budgets, we have outlined three ways to keep in mind for your CPG brand’s growth during these uncertain times: Building Brand Loyalty, Generating Product Inclusivity, and Versatility.
- Brand Loyalty: Building Trust
For a consumer, trusting a brand comes in many different forms. A trusted brand needs to be safe, work just as it is advertised, and be on the shelves when a consumer wants/needs it. Building trust with your target audience will benefit your brand in the long run. How? By establishing a brand loyalty relationship, your consumer will continue choosing your brand even when a competitor’s may be offered at a lower price, or in a greater quantity, or other factors.
As budgets become more conservative, we know that finding the right media to maximize your marketing dollars can be confusing and often risky. At Aletheia, we recommend tactics that do more than show results. Consider our efforts in influencer marketing, for example. We understand that a large majority of trust belongs with the smaller creators, as their audiences tend to see themselves as peers versus fans. Partnering with a trusted micro-influencer can be a first step in your brand loyalty being demonstrated, allowing others to follow.
- Generating Product Inclusivity: Expand Audience Reach
Traditionally, the saying goes “If it’s not broken, don’t fix it,” but this is becoming outdated for many consumers, who are looking for brands that stand for putting inclusivity front and center. As mentioned in our April email covering E-commerce trends, we know Generation Z owns a purchasing power of more than $140 billion and has different expectations compared to previous generations. We know they are looking for personalized experiences, transparency, and social awareness.
By working to bring your brand to a larger group of people who have historically been left out, you can expect Gen Z to embrace your brand and drive others to it if they feel included or inspired. This is now being seen among popular makeup brands, including a wider range of foundation shades, allowing consumers of all skin colors to find their match easier than before.
How do you reach Gen Z to help expand your audience reach? Work with us to begin embracing new forms of advertising, such as influencer marketing, social media/social commerce, and video content.
- Versatility: Designing your Product to be More
Are your brand and its products following a one-set mind? In other words, does your target audience only see your brand as useful for one solution? By rethinking the narrative of your product, we can help position your brand as the next great staple in a consumer’s shopping cart. A popular drinkable brand we partnered with in 2022 benefited from influencers going live on TikTok with innovative recipes that used the brand’s chocolate and strawberry drinkables in uncommon ways, including cocktails, cookies, and even mac and cheese.
At Aletheia, we believe in building trust among our clients, and we are committed to keeping your business ahead of the game. We excel in developing your brand’s strategy with the best tools and tactics. Please contact us to find out more!