Every year, billions of marketing dollars are spent by consumer packaged goods (CPG) companies to promote their brands across various channels and acquire new consumers. The questions that CPG marketers have been asking and answering for years have continued to evolve:
The digital shifts from traditional broadcast, print, and coupons to an omni-channel environment with consumer-driven broadcast (via Netflix, Apple TV etc.), social media, and ecommerce (e.g. amazon) have introduced even more challenges for today’s marketer looking to break through the noise.
Today’s consumer audiences are fragmented and marketers are left trying to find the magic bullet to match the reach they once experienced. The digital world provides a unique opportunity to provide insights for new products and services:
PunchTab, headquartered in Silicon Valley, is focused on connecting CPG companies with their consumers by providing behavioral and purchase insights that have historically been retained at the retailer level (e.g. mass market supermarket, pharmacy, etc.).
PunchTab is the first consumer management platform (CMP) for consumer brands, allowing CPG marketers to take this information to the next level so they can act on the data-driven insights using predictive analytics to drive revenue, customer engagement, and lifetime customer value.
“We built a platform that incents consumer opt-in allowing us to track and understand consumer behavior and activity at the individual level, across all channels, including purchase data from receipt scanning,” stated Mike Mansbach, CEO PunchTab. “It is critical that brands connect and engage with consumers in the right ways, on the right channels, at the right time.”
Mansbach had a great team of people working hard, but wasn’t sure they were all working as smart as possible due to the lack of a cohesive marketing strategy and organizational framework to both establish and achieve objectives.
Seeking outside expertise, a key requirement was finding a like-minded person who was both ‘objectives and outcome-driven’ since the entire PunchTab organization is extremely interdependent. Once Mansbach met Chief Outsiders CMO, Karen Hayward, he knew that he found the right solution.
“Karen had the right combination of being a functional leader, along with great leadership skills to motivate and inspire the organization – she also spoke with an outcome-driven mindset that was very important to me,” related Mansbach.
Mansbach signed Hayward for a limited engagement to lead PunchTab’s marketing team. Working closely with leadership, she began by conducting the following research activities:
“We were talking to the customer advisory board and scouring the market. We also tapped Forrester and other market data sources for insight,” explained Hayward.
The research revealed a number of insights about the CPG industry that PunchTab could use to tailor its innovative platform to the segment.
The insights gained from research confirmed leadership’s inclination to pursue big brand CPG companies. PunchTab’s strategy and marketing plan applied the proven principles of focus and positioning.
“Karen helped us develop both a cohesive marketing strategy and organizational design that will support our vision and future growth,” stated Mansbach.
Hayward then worked with leadership and the marketing team to develop and implement a strategic, integrated go-to-market plan, aligning resources, tactics and metrics with the growth strategy to drive qualified leads to the sales team.
“If you treat people like you are going to be there forever they jump on board. Because I was investing in the people we became a productive team very quickly,” explained Hayward.
Developed the Consumer Goods Squeeze story by analyzing the big brands that were affected the most and feeling disconnected from customers based on the statistics and insights gathered.
Built positioning around understanding and engaging the consumer and taking action to drive results based on those insights.
“PunchTab is an integrated, consumer-driven, SaaS platform to help brands connect with and understand consumers and take action based on those data-driven insights. The PunchTab platform’s ability to track and aggregate individual consumer information and behaviors enables consumer brands to improve their customer experience.”
PunchTab’s results-oriented approach dictated metrics to report on the effectiveness and efficiency of the strategy and tactics employed by the marketing team.
“Everyone in the organization is now aligned on what it takes to drive growth for PunchTab in an objective, outcome-driven perspective,” stated Mansbach.