An effective Marketing Mix rests on statistical modeling, drill down analysis, prediction models on one
hand while the high maturity organization bake in AI and ML models. The results helps marketing and
sales strategists find the best mix of channels, campaigns, and medium. Optimizations are attained
through what if analysis ROI and causal relationships of various factors and activities on sales and
marketing performance. A holistic marketing mix modelling solution helps you:
- Create insightful data visualizations
- Stay updated on product KPIs
- Manage product portfolio
- Conduct what-if scenario analysis
- Determine sales opportunities
- Analyze market performance of industry peers
- Access real-time insights for ongoing marketing campaigns
Underpinned by data science and analytics, shoppers and CPG organizations make informed startegic
decisions around portfolio rationalization, supplier mix and optimum sourcing strategy, demand sensing,
stock allocation and dynamic responsive pricing in response to market forces. With data analytics, you
can perform what-if analysis across your supply chain by leveraging AI-driven preidctive modelling
tools.
We've listed below the key measures that CPG companies can consider in the immediate short run to deal
with supply chain challenges:
- Simplify product portfolio to reduce complexity
- Build a dynamic sourcing plan to minimize costs
- Adjust upcoming promotional plans to curb high volume demand
- Adopt automated alert system to stay updated on real inventory levels
- Build a smart allocation strategy using ML tools
Customer experience, being the most formidable growth factor, finds its way into how customer behavior
data can be best utilized to maneuver the value proposition, staying relevant and differentiated. CPG
companies can consider the following for enhanced customer experience.
- Build your new marketing operating model
- Become a data-powered CMO
- Map and acquire future skills now
Chief Marketing Officers at CPG organizations can leverage applied intelligence insights to enhance customer experience by adopting new ways their businesses give personalised value, such as innovative delivery models, pop-up stores, hyper-personalized items, and sustainable packaging reclamation. Capturing customer feedback in real time and identifying bottlenecks in customer journey offers new opportunities to create unmatched customer experience.
360-degree views leverage historical customer behaviour data to forecast what they are likely to do next. Building a 360-degree view of the customer provides the following benefits:
- Create more strategic marketing and sales campaigns
- Deliver hyper-personalized shopping experiences
- Understand customers and their shopping behaviors
- Increase customer retention & drive customer intelligence
Using predictive analysis and data, businesses are better positioned to take advantage of cross-selling, churn prevention, and up-selling opportunities. Machine learning offers valuable insights into predicting how customers are likely to react and preparing a strategy that minimizes negative experiences and prioritizes positive reactions. By integrating the departments of sales, marketing, and service, a 360-degree customer view can improve cross-department customer alignment.
CPG organizations should focus on making strategic decisions and layout an operations management infrastructure that drives business forward and empowers them to:
- Consolidate data from diversified business sources within a centralized database for cross-organizational visibility
- Enhance data value through the use of real-time reporting and advanced analytics
- Make demand forecasts that inform your planning, procurement, and production decisions
- Capitalize on emerging trends and predict changing customer behavior by analyzing customer data & monitoring market activity
- Automate customer service, transportation management, and warehouse management to combat labor shortages and increase operational efficiency
Our data analytics solutions provide real-time visibility into product data across categories and retail stores to help organizations modify assortment and maximize sales. We fully leverage data and analytics by:
- Gathering the right data and managing multiple data sources
- Translating the data into actionable insights
- Turning the insights into effective action
And Polestar's proven competency & decades of expertise in Data warehousing, Cloud management, Big data, Data Lake, Business Intelligence for CPG brands across the globe help partner companies from insights to strategy to execution. With its industry-proven ways and advanced technology, it helps businesses foster a culture of innovation and drive revenue.