Sunday, April 29, 2012

The Flight From Conversation.

Sherry Turkle, a psychologist and professor at M.I.T wrote this wonderful article in the NYT where she says that we’ve become accustomed to a new way of being “alone together.” Technology-enabled, we are able to be with one another, and also elsewhere, connected to wherever we want to be. We want to customize our lives. We want to move in and out of where we are because the thing we value most is control over where we focus our attention. We have gotten used to the idea of being in a tribe of one, loyal to our own party.

We live in a technological universe in which we are always communicating. And yet we have sacrificed conversation for mere connection. 

At home, families sit together, texting and reading e-mail. At work executives text during board meetings. We text (and shop and go on Facebook) during classes and when we’re on dates. My students tell me about an important new skill: it involves maintaining eye contact with someone while you text someone else; it’s hard, but it can be done.

Thursday, April 26, 2012

etail is retail is etail.

Wonderful as ever. The latest edition from trendwatching.com

Mobile and Social Steering Future for CPG.

"We see a merging between social and mobile as two really popular platforms coming together, not only for ecommerce, but also to drive multichannel behavior. It’s just incredibly dynamic, and we’ve really adopted an integrative planning framework that takes into account the consumer journey and how the consumer is using digital channels and platforms. That’s become the driver for how we plan our entire marketing strategy and budget."
It was good to read this interview of Jeff Jarrett, vice president for global digital marketing, as he spoke about the most effective ad formats for consumer packaged goods, and how online CPG sales have required the industry to establish a larger footprint in digital. Read the full interview here where-in he talks on strategies, RoI, impact of mobile & social media and the changing consumer behavior. 

A must read for all FMCG / CPG marketers on how the trends are shaping up.

Tuesday, April 24, 2012

The evolution of the "path of purchase".

Conventional wisdom has always been that most brand purchase decisions are made in the store. 

But with the new, digitally empowered consumer entering the store better prepared than ever before, is the new reality that most purchase decisions are made at home or on the way to the store?

This wonderful white paper by The Hub seems to suggest that the truth most likely lies somewhere in between.

The white paper goes on to list how can manufacturers ensure that their brands are included in the consideration set and make the final cut. They must identify shopper needs and behaviors at every phase along the path-to-purchase and deliver relevant experiences that shape purchase decisions, from pre-purchase to point-of-purchase, from consumption experience to post-experience reflection.

The consumer’s media consumption methods have changed and therefore the relevance of methods in which a brand can be relevant to them. The 24x7 access to socially connected devices is the single largest factor to change dynamics of marketing. The white paper reemphasizes what we are trying to create with AaramShop – an integration of the Zero Moment of Truth (ZMOT) with the First Moment of Truth (FMOT) of the brand. Read more about it here.

Monday, April 16, 2012

Real Paths of Purchase.

The importance of the shoppers' path of purchase is not lost on any brand marketer. If you can get your brand / product in the natural path of purchase of the shopper, more than half the battle is won.

The problem - while everyone understand the importance of the PtoP, establishing an exact path is a very tough exercise. It is made tougher as it would change as per variations in shopper demographic.   

This has often led folks to adopt a more "anecdotal" approach to establishing a path of purchase rather than looking at & relying on empirical data.

AaramShop has been able to accurately map the buying behavior of shoppers and their paths of purchase using the hybrid commerce platform. While what is presented here is an overall P2P of specific category-wide behavior, it is possible to establish this specific to shopper demographics, like age, gender, etc and also to brand specific behavior. 

As illustrated - if you are a brand in the "breakfast cereal category" you are more likely to be bought by buyers of "biscuits & cookies" than by the buyers of "rice, atta, lentils & dals". Make you wonder about brand placement, promos, and lot more.

This intelligence can assist brand marketers to better position / place their products in association to categories, thereby leveraging the consumers natural path of purchase.

You can view the various paths of purchase specific to category in the State of Online Grocery Shopping Report - which you can download from here. 

It is important to clarify that these depict "in-store" path of purchase and not the entire consumers shopping journey.