Finding new customers during a pandemic is not for the faint of heart, just ask any CPG brand these past few months! But we have a market research primer to help brands sort out finding and engaging undiscovered segments. And cleaning products offer lots to learn from right now!
So, how does the consumer and market intelligence landscape look for brands right now? In a word, confusing. There’s both promise and chaos as COVID-19 continues to cause shifts in various markets from week to week. One category that has stayed strong are consumer product goods that are focused on keeping things clean. It may sound like a no-brainer, but ever these blessed brands benefit from a good bit of consumer insight.
We’ll explore how that looks for P&G specifically and the CPG category in general, including:
- Educational intel brands are focused on to keep consumers coming back for more
- Uncovering associated interests to find unique ways to approach various segments
- Why brands are winning with a powerful consumer and marketing intelligence combo
- Procter & Gamble’s net sales are up 4% for the quarter and 5% for the fiscal year.
- Home care sales increased more than 30%, driven by an increase in consumer demand for home cleaning and dishwashing products.
Finding New CPG Consumers through Education
CPG consumers are still making purchases, but they are cautious about spending money. And even though they’re certainly in the market for cleaning products right now, it’s still a challenge to compete for those dollars.
Procter & Gamble has a natural edge on the competition with many household names making up its brand profile, but nothing is guaranteed when it comes to consumer love. Yet its brands have experienced skyrocketing sales, thanks to its consumer and market intelligence.
Recognizing the fear and frustration – and even exhaustion – of many consumers:
P&G brands realized it needed to do more than merely create a variety of product offerings at various price points. They also needed to educate consumers around which products were the best for the purpose at hand.
P&G noted during the fourth quarter earnings call the importance of educational advertising in delivering an immediate sales lift, including both TV ads and in-store materials as effective ways of transmitting information about COVID-19 prevention in relation to the brand’s products.
A good number of their staple products – Tide, Mr. Clean and Comet, for example, have all experienced exceptional staying power during this pandemic. They’re credited with forming the bulk of the company’s exceptional earnings, even:
Procter & Gamble reported on Thursday that net sales were up 4% for the quarter and 5% for the fiscal year. The quarter results were driven by fabric and home care sales, which includes brands like Tide, Mr. Clean, Dawn and Febreze, increased more than 14%. Within that category, home care increased 30%, “driven by the increased consumer demand for home cleaning and dishwashing products,” according to the press release.
But, there’s only so much harsh reality around COVID that consumers have the stomach for at this point, no matter how beneficial it may be to them. So, how else can brands connect with equal parts worried and frustrated CPG consumers? Associated interests offer ideas . . .
Associated Interests Have It
Exploring related interests in NetBase to find other related ways to approach consumers is where you’ll find the savviest of brands these days. Recognizing the value of consumer and market intelligence to power their market research, they’ve explored the overarching CPG conversation and have found interesting trends:
With clear market research indicators around a push to an ecommerce-based, contactless experience. One this is direct-to-consumers and mindful of social justice concerns. And there’s also a good bit of worry – from both a consumer and brand standpoint. These new modes of purchase preferences remove the connection that consumers crave (with other people) and one that brands rely on to build loyalty. So, perhaps a little distraction is in order.
Filtering a search to include/exclude interests to uncover new consumers/influencers/or even a whole segment could be just what the brand – and consumer – ordered! For example, looking at interests in a CPG search, we see religion figuring prominently:
We can search for that interest as a filter to see if there’s relevant conversation happening. This could offer a way in to market a product to this undiscovered segment:
And, from there, we have so many ways to explore the data. One angle to follow, found in our Storyscope which shares significant positive and negative mentions, revolves around book purchases. This jibes with consumer desire to spend less time reading negative things online. Does your brand have a book? Maybe it should!
Combining Consumer & Market Intelligence for Market Research Mastery
When looking at both consumer and market intelligence around the CPG category, there’s so much opportunity available. For example, connecting back to above, brands armed with intel around the current (and ever evolving) market landscape have the ability to detect emerging trends ahead of competitors.
Are brands paying attention to their packaging during this trying time? Are they thinking ahead to a more AI-enabled supply chain? Does Cannabis play a role in their work somehow? And are they moving beyond talking points to incorporate diversity?
Tracking these concerns over time is how brands win. This is next-level market research in action. Much like how P&G was paying close attention to the online conversation and identified the missing educational component, brands have an opportunity to track relevant conversations happening in their space over time. And to act first, capturing consumer love and loyalty.
That market intelligence is super valuable by itself. And adding to it the consumer intelligence shared above – an in-depth, hyper-accurate understanding of associated consumer interests, helps them make smarter strategic decisions all around. One that touches every corner of the enterprise.
Reach out for a demo and we’ll show you have to track consumer and market concerns and extract meaningful, immediately actionable insight from your market research. It’s all there, waiting for you to discover it!