Marketing Trends How Byzzer is Driving Small CPG Business Growth with Data-Driven Strategies
Marketers constantly talk about knowing what your unfair advantage is. For small CPG manufacturers, which are often the driving force behind industry innovation, turning that unfair advantage into a profitable business strategy takes a lot of work and quite a bit of finesse, too.
“As a small company, you need to double down on what you're good at. A lot of companies try to move too fast and want to have ideas across the board. Ideas are great, but you've gotta be able to execute and build a program behind it, and build loyalty behind it before you try to explode nationally or explode across a number of categories.”
Executing on those big ideas when you’re a small business strapped for data can be near impossible. After all, how are you supposed to know what’s working and what’s not? That’s where Andrew Criezis, Chief Strategy and Product Officer at Byzzer, comes in. Byzzer helps small and medium-sized businesses take action while making more data accessible to small CPG businesses. On this episode of Marketing Trends, Andrew explains some of the industry trends within the CPG space that data is helping to detect, how they are helping SMBs identify that unfair advantage, and how data is helping companies not just understand consumer behavior, but market to their lifestyle.
Main Takeaways
- Take Calculated Bets: As a small company you need to understand what your strengths and weaknesses are and how they fit into your company’s long-term plans strategically. Once you’ve identified where your strengths are, double down on those strengths and build off of them before you explore new categories.
- Build a Data-First Culture: The biggest gap between large and small companies is data and how it’s used to drive their marketing strategies. By building a data-first culture, you’re not only encouraging and teaching your employees how to use and derive insights from your data, but you are also formulating a long-form plan for growth that is not reliant on chance, but what your customers are telling you.
- Data-Know How: Use your data to not only understand who your customers are but to understand how they operate from a lifestyle perspective as well. Regardless of where your data comes from, make sure that it is helping you make calculated decisions to meet your consumers at every touchpoint.
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