Consumer Packaged Goods’ Post

TUESDAY TIP: How much should I spend on Marketing? We have long advised our clients to invest 20% of revenue back into marketing to keep the business growing. CPG is hyper-competitive, and if you reduce marketing, sales will trend downward. We've seen this play out in companies of all sizes. #CPG #CPG #Marketing If you're interested in more details, read on! A Statista report released in December 2023 states that CPG's spend 23% of their budget on Marketing. That means when a company is considering where to spend...for example on R&D, information technology, supply chain upgrades, etc -- Marketing is allocated 23% of the budget. This CPG figure was by far the largest percentage of the industries studied. The CMO Report for 2023 finds the overall average percentage of revenue that companies invest in marketing is 11%. While the report doesn't break out CPG specifically, a close proxy is termed B2C Product companies. B2C Product companies spend 18% of their revenue on marketing. The report also states that smaller companies with less than 50 employees or less than $10 million in sales spend more on marketing as a percent of revenue than their larger counterparts. CPG marketing isn't transactional in the sense that $X spent will return $Y. Not every promotion or marketing activity will be profitable. But, considered in aggregate over the course of the year, smart marketing will grow sales. Of course, the right strategies and tactics must be in place and adjusted over time as market conditions evolve.

Report: What is the #1 Thing that Leads to Successful Cross-Channel Marketing Campaigns? https://lnkd.in/gpgcFq4N #consumertrends #consumerbehavior #consumergoodsindustry #fmcg #fmcgindustry #salesinformation #digitization #fmcgnews #digitaltransformation #sellingsystems

🚀 To jumpstart your FMCG business' sales, start using these four digital marketing tips today: https://bit.ly/3TBpkPl

Here is a short summary of a piece I co-authored on marketing budgets that came out in Sloan Management Review today. #cmo #cmoinsights #marketing

#marketing is not just #advertising and #communications, and if were to be just that, it's a diminished role of little strategic importance. Marketing, done right, is an integral part of business strategy encompassing activities like pricing, channel strategy, new products, new markets, and more. Need proof? See below (from MIT Sloan Management Review and Nader Tavassoli). "Marketing budgets account for less than 6% of revenues when marketing’s control is restricted to branding and communications, they grow to nearly 8% when marketing is additionally responsible for at least one key operational activity — such as sales, distribution, customer service, CRM or ecommerce – and they exceed 13% when a strategic activity such as innovation, pricing, or market expansion falls under control of the marketing function." 

𝗝𝗢𝗕 𝗗𝗘𝗦𝗖𝗥𝗜𝗣𝗧𝗜𝗢𝗡 𝗗𝗨𝗧𝗜𝗘𝗦 & 𝗥𝗘𝗦𝗣𝗢𝗡𝗦𝗜𝗕𝗜𝗟𝗜𝗧𝗜𝗘𝗦 : 1. Build brand awareness /grow market share of assigned brand 1.1. Conduct semi-annual survey with target market c/o 3rd party survey company (Tangere) 1.2. Develop marketing plan 1.2.1. Create a SMART (specific, measurable, achievable, relevant, and time bound) marketing plan based on the brand market and consumer insight. Each campaign should be cost-efficient and have a good ROI. 1.3. Execute marketing campaign 1.3.1. coordinate with the creative team for the development of campaign materials (digital and print) and marketing coordinator for production. 1.3.2 coordinate with trade sales marketing for allocation and distribution of campaign materials 1.3.3. Monitor campaign implementation with trade sales marketing 1.4.Ensure Product Placement per area 1.4.1. Coordinate and plan with trade sales marketing on how to saturate and place products in all existing stores within the area 1.5 Strategically place product assortment per channel 1.5.1. Coordinate and plan with trade marketing on the possible products that will be strategically included inside the store. 1.5.2. Coordinate and plan with trade marketing regarding the campaign materials that can be place inside the store 1.5.3. Assess and coordinate with trade marketing on the stock level of each product and availability of campaign materials inside the store 2. New Product Development 2.1. Marketers should observe market trends and consumer needs in their specific product category to validate product concept/product technology trends. 2.2. Marketers should conduct product and consumer insight to measure market acceptance of the new product 2.3. Upon approval of the proposed product, coordinate with R&D for the development and Technical Marketing for product testing 2.4. Upon New product completion, Marketer should coordinated with the concerned departments (MKT, PRD, PPIC, TM, R&D, and PUR) for the development of labels/packaging design before the actual production 2.5. Marketer should collate results and guarantee that the outcome meets the expectation on the product for approval of CEO 2.6. Marketer should coordinate with technical marketing for the external test validation of the new product prior to mass production 2.7. Marketers should prepare a marketing plan of the new product before launching 3. Achieve Sales Target 3.1. Monitor monthly sales per BU, per brand/district 3.2. Closely work with sales team and trade marketing on how to achieve target sales base on running sales per month 4. Compliannce of report 4.1. submit sales report/product/BU/district area with analysis Job Types: Full-time, Permanent 𝗔𝗽𝗽𝗹𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗗𝗲𝗮𝗱𝗹𝗶𝗻𝗲: 06/10/2024 To apply, please send your updated Resume to: recruitment@magnaprime.com.ph / me.magnaprime@gmail.com using this subject format: 𝗡𝗔𝗠𝗘 - 𝗣𝗢𝗦𝗜𝗧𝗜𝗢𝗡 - 𝗟𝗢𝗖𝗔𝗧𝗜𝗢𝗡

With over 25 years of experience in marketing and more than 14 years in online marketing, I have shaped the digital world through a variety of exciting projects and management positions. Whether as Director for E-Commerce and Digital Marketing at Miele Professional or as Managing Director at renowned companies such as Reprise Digital, Metapeople and Goldbach Interactive - my expertise in SEO, SEA, performance marketing, CRM and global rollouts has always made the difference. In my career, I have achieved great success in the introduction of new e-commerce strategies and the implementation of international campaigns, which have significantly increased both the reach and efficiency of our measures. When I'm not researching the latest marketing & sales trends, I enjoy cooking, travelling and reading. Follow me to learn more about my journey in digital marketing, digital transformation and my passion for innovative technologies! Please join me in the coming months as I regularly report on my experiences. #DigitalMarketing #ECommerce #Leadership #Innovation #FassbenderConsulting #ECommerceExcellence #DataSecurity #CRMStrategies #ERPSolutions #PerformanceMarketing #LeadGeneration #LeadNurturing #DigitalTransformation #OnlineMarketing #DataDriven #MarketingAutomation #SecureData #BusinessGrowth #CustomerRetention #TechInnovation #AIGeneratedpic #DigitalMarketing #MarketingStrategies #SalesOptimization #B2BMarketing #MarketingExpert

Learn the possibilities that 2.0 marketing mix modeling can offer to the current generation of CMOs. https://lnkd.in/dEzEuPS4 #marketingmix #cmo #marketingperformance #riskmanagement #b2bmarketing #martechcube #datadrivenmarketing

Measuring the return on investment (ROI) of product promotions involves evaluating the financial impact of your promotional activities in relation to the costs incurred. Although the specific methods and metrics used to measure ROI can vary depending on the nature of your business and promotional strategies, here are some general steps to help you get started: 1- Set Clear Objectives: Clearly define the goals and objectives of your product promotions. For example, you might aim to increase sales, generate leads, enhance brand awareness, or drive website traffic. Having well-defined objectives will facilitate the process of measuring ROI. 2- Define Key Performance Indicators (KPIs): Identify the key metrics that align with your objectives. These can include sales revenue, conversion rates, website traffic, customer acquisition cost (CAC), customer lifetime value (CLV), or any other relevant performance indicators specific to your business. 3- Establish a Baseline: Before launching your product promotions, establish a baseline or benchmark against which you can compare the results. This baseline represents the expected performance without any promotional activities. 4- Track and Attribute Results: Implement robust tracking mechanisms to monitor the performance of your promotional efforts. Depending on the channels and tactics you use, this could involve tracking coupon codes, unique URLs, campaign-specific phone numbers, or other methods to attribute sales or conversions directly to your promotions. 5- Calculate Costs: Determine the total costs associated with your product promotions. Include expenses such as marketing campaign costs, advertising expenses, discounts or incentives provided, and any other relevant costs. 6- Calculate Revenue and Profit: Calculate the additional revenue generated as a result of your promotions. This can be done by subtracting the baseline revenue from the total revenue during the promotional period. Additionally, consider the profit margins associated with the additional sales to determine the net profit attributable to the promotions. 7- Calculate ROI: Once you have the additional profit generated and the total costs incurred, calculate the ROI using the following formula: ROI = (Net Profit - Promotion Costs) / Promotion Costs * 100 This will give you the ROI as a percentage. 8- Analyze and Refine: Analyze the ROI results and assess whether the promotional activities met your objectives. Identify areas of success and areas that need improvement. Use these insights to refine your future promotional strategies and optimize your ROI. Remember that measuring ROI is an ongoing process, and it's essential to track and evaluate the impact of your promotions over time to make informed decisions about resource allocation and future marketing efforts.

Measuring the return on investment (ROI) of product promotions involves evaluating the financial impact of your promotional activities in relation to the costs incurred. Although the specific methods and metrics used to measure ROI can vary depending on the nature of your business and promotional strategies, here are some general steps to help you get started: 1- Set Clear Objectives: Clearly define the goals and objectives of your product promotions. For example, you might aim to increase sales, generate leads, enhance brand awareness, or drive website traffic. Having well-defined objectives will facilitate the process of measuring ROI. 2- Define Key Performance Indicators (KPIs): Identify the key metrics that align with your objectives. These can include sales revenue, conversion rates, website traffic, customer acquisition cost (CAC), customer lifetime value (CLV), or any other relevant performance indicators specific to your business. 3- Establish a Baseline: Before launching your product promotions, establish a baseline or benchmark against which you can compare the results. This baseline represents the expected performance without any promotional activities. 4- Track and Attribute Results: Implement robust tracking mechanisms to monitor the performance of your promotional efforts. Depending on the channels and tactics you use, this could involve tracking coupon codes, unique URLs, campaign-specific phone numbers, or other methods to attribute sales or conversions directly to your promotions. 5- Calculate Costs: Determine the total costs associated with your product promotions. Include expenses such as marketing campaign costs, advertising expenses, discounts or incentives provided, and any other relevant costs. 6- Calculate Revenue and Profit: Calculate the additional revenue generated as a result of your promotions. This can be done by subtracting the baseline revenue from the total revenue during the promotional period. Additionally, consider the profit margins associated with the additional sales to determine the net profit attributable to the promotions. 7- Calculate ROI: Once you have the additional profit generated and the total costs incurred, calculate the ROI using the following formula: ROI = (Net Profit - Promotion Costs) / Promotion Costs * 100 This will give you the ROI as a percentage. 8- Analyze and Refine: Analyze the ROI results and assess whether the promotional activities met your objectives. Identify areas of success and areas that need improvement. Use these insights to refine your future promotional strategies and optimize your ROI. Remember that measuring ROI is an ongoing process, and it's essential to track and evaluate the impact of your promotions over time to make informed decisions about resource allocation and future marketing efforts.