Recent election results have surprised us all. How can there be such a dramatic difference between the election opinion polls and exit polls? Why did the opinion polls get it so wrong?
- Opinion polls don’t necessarily come from someone who will vote
- Opinion polls are taken before the actual event; meanwhile things can and do change. Exit polls are taken after the event, thus providing a more accurate picture
So. What’s this got to do with the world of FMCG promotional marketing? Just like the political world, the majority of traditional market insight gathered by an FMCG brand comes from opinion polls and survey data. As a result, an FMCG brand faces a dilemma; armed only with anecdotal consumer opinion, how can they invest their limited marketing budget in a way that will best deliver the desired outcome? At Hive, we help FMCG brands become more intelligent with their promotional strategy. Like an exit-poll, we link a brand’s marketing activity to their shoppers’ actual buying behaviour. In other words, we link a brand’s activity with what their shoppers actually do, not what they say they intend to do (but eventually might do something different).
Is a brand’s target shopper as fickle as a voter? Arguably in today’s market considerably more than ever. Consumers, like voters, are dynamically changing their minds, tastes, loyalties and preferences. Today’s commercial reality is that brands cannot afford to invest in marketing methods that do not directly result in incremental sales and brand growth.
Brands need a system that will help them reach and influence a consumer at low cost. This translates to the need to have a method to become more relevant to increasingly fickle shoppers.
New technology provides exciting avenues for brands to not only gather data on shoppers’ behaviour but be in a position to react quickly and build their brand in difficult times. It’s no longer enough for brands to rely on ‘opinion poll’ like data, they need systems that gather ‘exit poll’ type data if they really want to consistently win their shoppers’ votes.
To find out how Hive can help your brand with shoppers’ data, contact 01509 882910 or email email@example.com.