Strength in (Our) Numbers
growth in channels not tracked by traditional POS or legacy panel sources. We call this the “blind spot.”
growth in traditional POS channels. This is the observable growth visible to legacy resources.
Your Blind Spots are Growing
As companies and brands continue to look for growth, drive market penetration and expand channel distribution, the areas to which they are largely blind continue to get larger.
We can show you how to develop and maintain committed customers
Your blind spots are growing.
The proliferation of not only new brands and products, but also new purchase channels have made it more difficult to understand what it takes to grow and maintain a loyal customer base. In 2017 alone, the top 25 CPG firms collectively lost more than $15 billion in market share to startups and midcap firms. The reality is every successful company has a strategy for workflow and innovations designed to deliver growth. The question is what do they need to do differently to combat the erosion of loyalty and market share?
Effectively assessing opportunities and threats means being the best at understanding consumers – what they do, how they think and how they are changing. While businesses often continue to think in terms of channel, consumers are more selfish, thinking in terms of need fulfillment and convenience. Consumers want the path of least resistance to address their needs, with the calculus of what “least resistance” means shifting constantly.
It used to be that larger companies were able to erect barriers to entry to keep out smaller competitors. But with the democratization of innovation and distribution, smaller competitors are taking market share and mind share from larger competitors. Traditional approaches to innovation must evolve to connect consumer attitudes and behaviors, expanding beyond the product definition itself to consider how those products will be sold, advertised, promoted and consumed.
In a shifting marketplace, the difference between success and failure is often the ability to see the whole consumer, with access to the tools to be agile in virtually real time. Because consumers are a moving target and companies must adapt to be successful.