post

What Do Marketers Really Want in #DataAndTechnology?

Marketers get data – or at least they get the importance of data. Data answers questions such as:

  • Can you help me understand my customers?
  • Which customers are my best customers and why?
  • How can I find profitable new customers?
  • How can I sell more to existing customers?
  • How can I retain my existing share of each customer?
  • How can I increase the velocity of my sales?
  • How can I integrate my marketing through all available channels?
  • How can I maximize the impact of my marketing budget?

However, data is just data unless you have the marketing technology to “make the data talk.” Marketers are increasingly in charge of marketing technology spend to drive better data outcomes. In fact, technology has become the core of marketing. According to research by IBM, marketing executives are adopting technology in the following areas:

  • 88% Customer Relations

  • 83% Digital Marketing

  • 68% Customer Analytics

  • 49% Mobile Advertising

Read more. . .

Contact us today to discover how Vortisieze analytics can take you to the corner of Marketing and Technology.

Source:  What Do Marketers Really Want in Data and Technology?

#DataAndMarketing
#BigData
#CPG
#CPGMarketing

post

Retailers to increase IoT spend fourfold by 2020 to US$2.5bn | #BigData #TechnologyTrendsInRetail

Anticipating the winds of change, major retailers are expected to increase their investment in internet of things (IoT) technology fourfold to US$2.5bn by 2020.

In the commercial space, IoT in retail is one of the clearest examples where connected network technology could have a significant impact on customer interaction in stores.

In particular, retailers have already begun investing in IoT hardware, including Bluetooth beacons and radio frequency ID (RFID) tags that allow them to send information to them in-store and keep a tab on stock and price levels, respectively.
Read more . . .

How will your DSR handle all that new, differently structured data? (Hint – it won’t!)
Contact us today to discover how Vortisieze analytics can bring this, and many more, types of data to your analytics package.

Source: Retailers to increase IoT spend fourfold by 2020 to US$2.5bn

#BigData
#CPG
#CPGMarketing

#TechnologyInRetailIndustry

post

New #BusinessIntelligence skills in, BI developers out

Consultant Lee Feinberg says organizations need to build up their data storytelling and visualization capabilities — and details a competition for finding people with the right business intelligence skills.

You’re investing a lot of money in business intelligence tools and applications to keep up with your organization’s changing business needs — perhaps hundreds of thousands of dollars, if not more. But are you investing enough in the people who you expect to use those tools — or in the right kind of people to begin with? Probably not.
Read more . . .

Contact us today for your complimentary BI consultation.

Source: New business intelligence skills in, BI developers out

#BusinessIntelligence
#CategoryManagers
#CPG
#CPGMarketing

post

Here Are the #CPG Brands Men and Women Trust Most | What Can #CPGMarketers Learn?

Interesting read.

Results are based on a survey of nearly 89,000 U.S. consumers age 15 and older in June and July of this year. Each respondent rated 40 randomly selected brands, and each brand received about 1,000 ratings. (A few months ago, Harris Poll released research about non-CPG products and services. In that study, top brands included Subway—before the revelations about pitchman Jared Fogle—and Target, despite the company’s high-profile data breach in 2013.)
Overlaps on the CPG lists underscore a key societal insight: Some responsibilities and activities, and the products associated with them, are no longer viewed as mainly the domain of one gender or another.
“Family backyard barbecues [Reynolds] and family bumps and scrapes [Band-Aid, Neosporin] are becoming gender-neutral domains,” de Vere said. “If I were a brand manager or advertising executive, I would be really intrigued to understand whether or not men and women see different benefits in some of these overlapping brands.”
Marketers should keep in mind that “brand choice for both men and women is emotional and rational,” he said, and strive to understand consumer motivation on both levels as they construct campaigns.

Top-10 Most Trusted CPG Brands for Men

  1. Band-Aid Adhesive Bandages
  2. Heinz Ketchup
  3. Neosporin Antiseptic
  4. Reynolds Aluminum Foil
  5. Duracell Batteries
  6. Ticonderoga Pencils
  7. Glenlivet Single Malt Scotch Whisky
  8. Energizer Batteries
  9. Ghirardelli Chocolate
  10. Scotch Tape

Top-10 Most Trusted CPG Brands for Women

  1. Ziploc Food Storage Bags
  2. Band-Aid Adhesive Bandages
  3. Reynolds Aluminum Foil
  4. Neosporin Antiseptic
  5. Dawn Dish Soap
  6. Kleenex Facial Tissues
  7. Sharpie Markers
  8. Q-Tips
  9. Clorox Bleach
  10. Tide Laundry Detergent

What can CPG marketers learn from this?  This data could be useful overlaid with other data in a big data analytics tool.

Contact us today for a complimentary consultation.

 

Source:  Here Are the CPG Brands Men and Women Trust Most

#BigData
#BigDataAnalytics
#CategoryManagers
#CPG
#CPGMarketing

post

#CPG #CategoryManagers Take Note:  Smile, You’re on Consumer Camera

We’ve noted recently how beacon technology can track a consumer’s movement throughout the store and broadcast product specific marketing to the consumer using their smart phone.

Additionally, there is new technology that can use the existing security cameras and floor tiles to both watch movement and track traffic location throughout the store.

Of course this depends on the retailer investing in this technology, over which you as a CPG category manager or sales manager have no control.

But something you do control, or at least influence, is how, or if, you can analyze the resulting data once it becomes available.  Older DSR technologies, using database or data warehouse methods, are rigid and hard to change.  Adding new data streams takes months or years to incorporate – if attempted faster can break the data model making is difficult to load or extract data.  Difficult means time consuming.  Not what you need when your buyer’s meeting is 9am Monday and you are waiting on data loading (called ETL) and extraction (reporting) at 10pm Sunday night.

Big data is different – not just the buzz around it – but truly different from a technological point of view.

Big data allows you to add new, even unstructured data (think your latest spreadsheet creation), for analytics insights in hours or days.  So when this new consumer tracking data is made available to you analyzing and acting on it means you can take steps toward better promotions and product launches.

Big data technology is demonstrably faster in loading (literally minutes versus hours) and extraction and reporting.

Which would you rather do on Sunday night – sit at the office until midnight just waiting on your first peak at last week’s data – or home with your family watching Sunday Night Football?

Vortisieze is the first big data analytics package designed exclusively for the CPG community.

Contact us today and makes us prove just how fast Vortisieze can put you ahead of your competition.

 

 

Source:  Smile, You’re on Consumer Camera

 

#AnalyticsInRetail

#CPG

#CPGMarketing

post

ZuumSocial Releases Facebook Leaderboard – Most Engaged #CPG Brands on FB

Last month Zuum announced it will begin monthly ranking of the 25 most engaging brands on Facebook.  The rankings are limited to the top brands operating in the U.S.  This is how they summarized their criteria for selection:

The goal of this is to capture the Facebook content and community traits of the top brands operating in the US. So we’ve put several constraints on which brands are selected. Brands must be operating in the US, we’ll use the US page unless there’s only a global page, brands must be consumer products vs B2B, and we’re excluding technology and entertainment brands, as our goal is to better understand how typical consumer products work on social media, and both of those categories tend to skew towards extremely high engagement due to the product type.

For July and August Monster Energy Drinks captured the top.  This month Zuum has released the rankings for a specific category CPG Dips and Dressings.  Here is the lead-in to their rankings:

CPG is a very broad business category, with sub-categories like soft drinks having brands with some of the larger social media fan counts anywhere. In our July ranking of the 25 most engaging brands on Facebook, the three top brands are CPG.

Of course, the CPG umbrella includes many smaller brands, with more niche or regional appeal. One subcategory in particular is dips and dressings. Below is the Facebook Leaderboard for some of the top dips and spreads brands in the US for the month of July.

You can see that the fan counts, while not what you’ll see from Pepsi or Coke, are still substantial. Posting volume is a little light in this category, with even the top brand, Sabra, only posting about 1 time per day.

Once the novelty of these new rankings are gone what value does this have to a CPG category manager or sales analyst?  “Well – Nancy . . .” – if your analytics cannot lay this new, unstructured data alongside your retailer supplied POS and inventory data – there is no value outside of water cooler talk.

This is one of the major limitations of rigid, outdated, DSRs built using data warehouse technology.  Rigid in the sense that to add new data feeds takes months – sometimes years.  The loading of the data – including current feeds – is long and cumbersome.  From a technological point-of-view these simply will break under the weight of increasing amount and type of data.

If you want to use these new – and exciting – data points (social media, weather, and et. al.) to draw insights and correlations to sales – then the only technology that can pull this off – today – is Big Data.

That’s what the buzz is about.  Will your brand be buzzing going forward?

We are Vortisieze.

Contact us today for a complimentary consultation on your BI strategy.

 

Sources:

Facebook July Leaderboard for CPG Dips and Dressings

http://blogs.imediaconnection.com/blog/2015/08/17/facebook-july-leaderboard-for-cpg-dips-and-dressings/

 

Ranking 25 of the most engaging brands on Facebook

http://zuumsocial.com/ranking-25-of-the-most-engaging-brands-on-facebook/

 

July Ranking of 25 Most Engaging Brands on Facebook

http://zuumsocial.com/july-ranking-of-25-most-engaging-brands-on-facebook/

 

#CPG

#Business Intelligence

#BigData

#AnalyticsInRetail

NYC Shoppers (Still) Want Walmart

This very interesting article on Forbes.com yesterday reminds those of us who live and work in the shadow of the Walmart Home Office that there are areas where there is no Walmart store.

New York City is one such area – no Walmart exists within the five boroughs.  The mayor and most of the city council oppose Walmart entering NYC.

As the article points out – “25 percent of respondents go to the suburbs to shop Walmart stores. And it is obvious that many New Yorkers go to the burbs to shop other big box stores, discounters and outlet malls.”

The arguments against Walmart remain the same – and each one is Luddite in nature.

  • Walmart pays low wages. There is no denying that Walmart pay and benefits are modest by comparison, especially at the part-time and entry levels.  However, for people who just want jobs Walmart is the perfect place to start and learn retail.  And, Walmart hires from the communities around its stores.  Since the retailer appeals to middle to low income shoppers this means that those who need opportunity the most can find it – with the chance to move up the ladder in position and pay.  Additionally, those opposed to Walmart based on pay fail to look at the comparison of revenue per associate with other “high paying” companies – Walmart is at the low end of that scale.  And the margin of profit is much lower for Walmart, compared to other Fortune 500 companies, so there is a smaller pie to slice.  However, lower margins means lower prices – great for the consumers.
  • Walmart is anti-union. Walmart has worked actively against unionization of its workforce throughout its history.  Advocates of unions fail to demonstrate the benefit to their workforce.  By artificially raising the cost of labor unions in private industry have reduced available jobs so fewer people are working.  When the best hand-out is a hand-up through job opportunities how is limiting the number of jobs available helping the unemployed find skill training through work?
  • Walmart is hurting small, local businesses. On April 1, 1975 Walmart store #85 opened in my hometown.  Before then, only small, family-owned stores were available for items like hardware and clothing.  My mother drove my sister and I over 30 miles to the state capitol to shop at the large retail chains (primarily JCPenny for school clothes since her first job was as a clerk at JCP).  The local department store simply charged prices that were too high for my budget-minded parents.  Yes – after Walmart opened those businesses lost revenue and, over time, most eventually went out business.  What the critics fail to acknowledge is that Walmart has always offered lower prices for the budget minded.  As to the jobs lost through the shutdown of small, local business – Walmart more than made up for that by hiring more people than what was lost – and the part-timer had greater flexibility in the hours worked – the full-timer has opportunity for advancement that were not available through family-owned stores.  When was the last time a store owner promoted a talented, ambitious person over his son?

I have never understood the resistance to a retailer like Walmart, which achieved its success through competing for the hearts, minds and wallets of the consumer.  And it must still compete today or go the way of Sears.  The consumer is always the winner and should always foremost in the minds of the political elite.

Should these elitists have their way and force Walmart to change its model in any or all the points above then the inevitable result will be higher prices to the consumer.  Essentially – a hidden tax to protect constituent groups these politicians depend on for power.

Why is this important to category managers and sales analysts?  When the retailer you partner with is arbitrarily blocked from entering certain “political zones” you have fewer outlets through which to efficiently distribute your product.

The bottom line is – your brand loses – the retailer loses – and most importantly – the consumer loses through higher prices and fewer choices.

And that’s just my opinion.

 

Source:  NYC Shoppers (Still) Want Walmart

#Retailing

#Walmart

#CategoryManagement

post

#Retailing: Target Launches Beacon Test In 50 Stores – #TechnologyInRetailIndustry

 

Target, the second largest general merchandise retailer in the U.S., announced this morning that it will start testing beacon technology in 50 of its stores nationwide. With beacon technology, the company says it will be able to send information about deals as well as recommendations directly to consumers’ smartphones, provided they opt in to receive these alerts.

 

Initially, the beacon technology will work with those users who have the latest version of the Target iPhone app installed on their phones and have Bluetooth turned on.

Techcrunch.com is reporting this in an online article published on August 5, 2015.

Beacon technology is emerging as the newest way to technologically engage the consumer.  As you read the article you will probably begin thinking of new ways to promote your brand in partnership with the retailer.  Especially when the retailer begins to tie the recipient of the beacon to the POS at the cash register.

And – assuming retailers will make this data available to vendors and suppliers – this will provide a way to draw new insights into the consumer.  However, using an old-style data warehouse can slow the availability of these analytics because it requires a lot of planning and work to add a new data source to an existing DSR (demand sensing repository).

One of the benefits of the “big data” trend is the ability to bring in any data source – structured or unstructured – without impacting the existing data.  New data sources added within hours or days, not months or years.

Imagine designing a promotion that specially targets those who have demonstrated tendencies to purchase similar products (perhaps from your brand competitors) and pulling those consumers into your brand family.

It opens a new world in retailing and begins to level the playing field between brick-and-mortar and online retailers who have used similar techniques online through collecting the browsing and purchase history of consumers.

This is only useful when the data is available to the analytics engine to provide you meaningful insights to share with your buyer.  Big data technologies provide the ability to have new data & analytics delivered to you for insightful action.

Contact us today for a complimentary consultation.

 

Source:  Target Launches Beacon Test In 50 Stores

#TechnologyInRetailIndustry

 

post

Bigger Is Not Always Better – Why #Amazon Is Worth More Than #Walmart – #Retailing

Over the weekend a lot has been made about Amazon topping Walmart in market value.  This is the second time in two months an online based company has surpassed Walmart.  Last month Facebook moved above Walmart and pushed the retailer out of the Top 10 list of the Forbes 500.

While Walmart has a much larger revenue and profit than these online centric companies, the concern is the slowing revenue and profit growth with the large fixed cost of the huge scale infrastructure.

Below is an interesting article highlighting the shift in retailing by comparing Amazon to Walmart now that the Amazon market value exceeds that of Walmart.

Source:  Bigger Is Not Always Better – Why Amazon Is Worth More Than Walmart

#retailing

#Walmart

post

#Retailing News:  #Walmart Canada Chooses Ottawa For Online Grocery Shopping Launch

The retail giant announced Friday that it has launched its own e-commerce grocery shopping service at all its Ottawa locations and in some outlying stores as well.

 

“For us, when we talk to our customers, we realize that absolutely, people are time-starved today. An hour today is worth way more than it was 10 years ago,” said Simon Rodrigue, Wal-Mart Canada’s senior vice-president, e-commerce.

 

This is Wal-Mart’s first foray into grocery shopping online in Canada. Mr. Rodrigue said the retailer chose Ottawa because it has found the city to be very receptive to previous e-commerce initiatives.

 

“I think second, Ottawa is that perfect blend of education with the universities, it has a high-tech base and from a demographic perspective, there are a lot of families,” he added.

 

Mr. Rodrigue said online shopping is the future of grocery retailing.

 

“Our customers have been telling us they wanted it,” he said. “Wal-Mart is really targeting for our customers to buy what they want, when they want, where they want, and I think the grocery home shopping is a key part of that. It’s one of the key initiatives.”

 

 

#Retailing

#Walmart

#OnlineShopping

 

Source: Wal-Mart Canada chooses Ottawa for online grocery shopping launch