What does the future of FMCG technology hold?
Evaluating the impact at present and exploring the upcoming benefits!
Opportunities don’t happen. You create them.
– Chris Grosser
Business organisations are bound to evolve with the changes in this era of growth and race. We are at the pinnacle of digitisation where consumer market is very much influenced by the world of Internet and smartphones. For the fast moving consumer goods (FMCG) sector, the challenges are increasing day-by-day. Owing to the countless alternatives and unpredictable customer base, things are quite uncertain.
FMCG companies have started to consider their move to embrace social presence, be open to multiple options and plan their tactics. Mapping customer journeys right from product search to discovery to creating them brand loyalists demand efforts like never before. Let’s check out few of the many innovative approaches that have given profitable results:
It’s not only about ‘Products but about ‘Services’ as well!
A greater focus is on product innovation to stand out in the competition. Along with it, the modern strategists know the importance of astounding customer service. Making efforts to direct customer care and support towards winning the game is the key. FMCG companies are emphasising to provide value offerings to the consumers. The traditional sales and production scenario is less relevant. Personalised products, discounts and services are more appealing now! This also widens the scope to extend and indulge in cross-selling.
The ‘Online’ Disruption is here!
Speed, agility and swiftness characterise the FMCG technology sector. Companies’ taking active participation in the digital transformation is a good sign. Organisations are resorting to integrated multi-channel solutions to ease up customer interactions. Moreover, creating brand buzz using social media proves to be a cheaper way to maintain customer relations. It also builds new avenues to explore the potential market. More and more users are using the Internet to voice out their views, thus is the need to be available has increased.
‘Customer Engagement’ is the key!
The connected generation of consumers prefers to have a two-way communication. Mobile applications are playing a major role in promoting direct-to-consumer sales. A brand can set up all its offerings, services and support on a branded bespoke app. It functions as an ideal tool to study consumer behaviour, plan a targeted approach and connect with the user base. Also, these apps channel the self-service features to the end-users! Positive customer engagement turns them into your brand influencers. It is vital to forming a chain of referrals with reviews.
Despite the latest advancements and benefits offered by the FMCG technology, we are yet to see organisations taking the digital initiatives in a broader sense. As quoted by HubSpot – On an average, 29% of salespeople are yet spending more than an hour on data entry every day.
Presenting our lookout on how things will get more systematic for the FMCG companies. They need to walk on the correct path with the joined efforts of technology and human elements:
More Automation, Less Efforts
The emergence of latest technologies including IoT (Internet of Things), 3D printers, sensors and product manufacturing devices have motivated the concept of effortless automation. It can be foreseen that moving to digital will not only apply to marketing. SaaS-based solutions will be in a rage for managing tasks and customer complaints with automation. Handle workforce and meet the compliance to governing hassle-free business management. It will reduce redundancy, repetitive work and allow concentrating on core operations.
Embrace the new Working Culture
It is necessary to balance the needs of digital consumers as well as the new-age workforce. The renewed working rules and desire to have flexibility is giving rise to a smart working culture. It will replace the conventional old patterns. Device-independent smartphone apps are a cost-effective and result-oriented platform. Many organisations are looking forward to accepting a complete BYOD policy. This will allow employees to manage their work at their convenience. Also, it will increase efficiency and visibility with real-time reporting.
Data-driven business models
To run a successful FMCG business, data-interceded relationships will top the strategic charts. Centralised and organised data is a single source of truth to reveal consumer preferences, latent problems, and future success parameters. Decision-makers can highly utilise this accurate analysis to take proactive actions, assess product risks, watch market trends and make future verdicts. Information collaboration will also help to maintain asset life cycle with predictive analysis.
Depending upon the technology to manage the business is great! But, it needs careful planning and premeditated implementation. Have you encountered any challenges in running your FMCG business? Or, has the use of FMCG technology reduced your burden? We would be glad to hear from you. You can get in touch with our team to know more or share your valuable insights. Connect on Facebook, Twitter, and LinkedIn for more such updates.
Make your move now!
iTouchVision is one of the world’s leading cloud-based service provider with innovation & excellence at its base. The company has made its presence in all business verticals with its technical & operational capabilities to enhance the working of private & public sector organisations. Our products, ranging from Web-based software to Mobile applications have made their mark globally to transform the way work is completed.
