Market fragmentation is one of the biggest challenges in the consumer packaged goods sector, but it’s an issue that can be addressed through emerging digital channels such as social media. Consumers’ purchase paths are becoming increasingly complex, so it’s important to monitor social media impact on brands.
Creating products that customers love is the core path to generating value for CPG leaders. With social media, brands have direct access to customer sentiment data that can inform and direct new initiatives. “Brands put a lot of time and energy into the development of new products,” said CEO of marketing agency WebiMax Ken Wisnefski during a recent interview. “If a product out on the market isn’t doing so well, it can be a challenge to determine if you truly have a dud or simply have to invest more in a better-targeted marketing strategy.”