The CPG industry has grown exponentially in recent years and witnessed rapid changes and evolving market dynamics. However, challenges such as investment volatility, customer management issues, and competitive pricing have been plaguing the growth of industry players. This has led to a need for CPG companies to restructure their businesses and develop new approaches to targeted marketing, customer management strategies, and identifying profitable customers. Infiniti’s target market segmentation experts enable our clients to identify, segment, and prioritize profitable customer segments based on their value for the brand.
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Target Market Segmentation Analysis for a CPG Company: Our Approach (Graphic: Business Wire)
To leverage Infiniti’s target market segmentation engagement, enable efficient, targeted marketing initiatives, overcome industry challenges with data-driven insights, and champion the challenging CPG industry, request a free proposal.
"Owing to various challenges, new approaches to understanding the market, market niches, and target customers have become imperative for CPG companies to gain a competitive advantage and reinvent the way they engage with their customers," says a CPG industry expert at Infiniti Research.
The client, a CPG company based out of the United States, invested over 33% into targeted marketing for the wrong customer segments and focused on targeting individual customers. Consequently, the CPG market client witnessed a decline in their sales rate, and their customer attrition rate increased by 21%. Therefore, the client sought to identify the correct customer segments and target customers that provided more value for the brand, and in doing so, accurately direct their marketing budget into successful channels. The client chose to partner with Infiniti Research and leverage our expertise in offering target market segmentation analysis. During the seven-week engagement, the client sought to focus on profitable customer segments, utilize cost-effective targeted initiatives, and develop offerings to meet customers’ preferences.
Infiniti’s target market segmentation experts developed a comprehensive approach that included the following to help the CPG company:
Segmenting the client’s target customers according to factors including shopping patterns, and their demands
Understanding the customers’ satisfaction level towards their offerings, using customer satisfaction and loyalty assessment
Conducting a demo marketing campaign and identifying efficient channels for product promotion
Analyzing data for sales from clients and competitors and identifying frequent customers and products with a sales assessment study
Infiniti’s target market segmentation approach enabled the CPG company to identify profitable target customer segments and categorize their customers according to purchase patterns, value for the brand, and past purchases. The client also devised efficient, targeted marketing and promotional campaigns. Additionally, with the insights gained from our target market segmentation engagement, the CPG market client also engaged with their customers, reduced their attrition rate, and efficiently utilized their marketing budget. Lastly, the target market segmentation approach enhanced its customer retention rate by 17%.
Speak to industry experts to learn how our target market segmentation analysis helps CPG companies identify, engage, and retain the ideal and profitable customer segments to reduce customer attrition and enhance sales.
About Infiniti Research
Established in 2003, Infiniti Research is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to analyze competitive activity, see beyond market disruptions and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
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