5 fast-moving consumer goods tips for planning to help you in the market.
Do you think that you actually know everything you need to be aware of when it comes to the fast-moving consumer goods industry?
Let me answer this for you, and it will be that you actually don’t know everything.
And since that, you, of course, consider entering the world of fast-moving consumer goods.
So let me shed some light on this industry.
- The definition
- Examples on the Fast-Moving Consumer Goods
- Can we consider clothes as an FMCG product?
- The Fast-Moving Consumer Goods Industry
- How to set up a good FMCG’s Marketing Plan?
- 1- Research
- 2- Setting up the plan itself
- 3- Your FMCG sales strategy
- 4- After-sales services
- 5- Do not settle down
- The Conclusion
The fast-moving consumer goods (FMCG), or Consumer packaged goods.
It is one of the world’s most interesting markets that you will love to work in it.
It is the market of the products that we need to buy every time we go out for shopping.
The essential products that whenever we run out of them, we rush to the market to get to find them leaving the supermarkets shelves quickly, they are the products you need with low cost.
The consumer goods market, in general, is divided into 3 different categories (durable, non-durable, services)
And the Fast-moving consumer goods market is the largest market of consumer goods.
It comes under the non-durable category.
Examples on the Fast-Moving Consumer Goods
As I mentioned before that FMCG is considered as a non-durable category which means getting sold quickly.
FMCG’s can be divided into many different categories including:
- Processed food: dairy products, cereals
- Boxed meals: Such as Ready-to-eat meals like salads
- Drinks: mineral water, energy drinks, and juices
- Bakery: Cookies, croissants, and bread
- Medicines: Aspirin and pain relievers
- Cleaning products: window and glass cleaner
- Cosmetics: Haircare products and skincare products
- Toiletries: toothpaste, toothbrush, and soap
- School supplies: Pens, pencils, papers, and markers
- Consumer electronics: such as Earphones and memory cards
- Candy: such as chocolates and chips
Can we consider clothes as an FMCG product?
For these questions, I have two answers with two different points of view.
The first opinion as a customer, and the second one as someone who works in the market of the FMCG.
So the first opinion, Some customers actually consider clothes as snacks, food and drink products.
They buy them whenever they go out for shopping.
It is more like a habit for most of them, feeling happy or sad they buy clothes just like buying food.
And the second opinion, if someone works in this field.
FMCG’s sales don’t decrease suddenly as clothing sales do.
The demand or your need for food or drinks or the essential products, in general, is more if you compared it with your demand for new clothes and keeping up with fashion trends.
People won’t buy the same clothes to wear for too long, but people will drink the same coffee or tea and maybe for the rest of their life.
So I don’t think that it is right to consider clothes as an FMCG product.
The Fast-Moving Consumer Goods Industry
The job areas you can work in the FMCG market are several such as,( Sales, Marketing, Research and development, information services, Finance, Supply chain, human resources, etc) and all the of these job roles are really connected.
No role can perform it’s best without depending on another role, it is more like a circle, or puzzle pieces.
And every day the market is getting bigger and bigger.
You can jump from role to another quite easily.
It is not only getting bigger but also getting more competitive, because the industry depends on how sales you are going to achieve, and also depends on how many new customers that you are going to attract to your brand, and that leads us to an important point which is the marketing strategy for this industry.
How to set up a good FMCG’s Marketing Plan?
Since every successful business has a successful marketing strategy, which means that the FMCG industry needs a well-studied plan to spread the markets as fast as possible to achieve the business’s target.
So let me tell you my advice.
You can consider this as a rule, your business plan without good research about your customers is an epic fail, always put this in your mind that you have to research your customers base.
You have to study your customers’ characteristics so you can know how to attract them to your brand.
Research is not only about customers.
You also can research the perfect platform to represent your brand.
Research the format, the latest trends on social media.
Your market’s audience are the base for your business, so you have to study your audience’s characteristic.
You have to interact with them by asking questions, or asking them to write a review, it is the best way to have a perfect vision about your customers’ needs and what they expect from your brand.
Competitive research is an intelligent step that you must put in your consideration while working on a plan, especially in the fast-moving consumer goods business.
Through this step, you will figure out how your competitors’ business is going.
You also will know what kind of hidden obstacles they present to your plan.
You have to know what kind of content forms they are following, also pay attention to their social media pages.
Analyzing your competitors business’s plan will make you think and work harder.
Learn from their strategy, learn from whoever has a good plan in your industry.
Social Media Platforms
We are in 2019 and by now no one can deny the huge effect of social media on our life.
It is the fastest way in which people communicate, so you have to give due care when researching the perfect platform for your brand.
You can’t choose the right platform when you only depend on its popularity among the rest of the platforms.
It would be a huge mistake, You have to know what every platform has to offer for your business, you have to know the nature of every platform.
You have to define your goals, as someone who works in the FMCG filed your goal on social media would be attracting customers to buy your product.
Also, add to your goals that you have to build a good relationship with your audience.
So I guess since that we are talking about the FMCG market, Facebook, Twitter, and Instagram would be the best platforms for your products, because of their nature.
After choosing the perfect platforms that you are going to work on it, you have to abide by the perfect format to represent your brand if you want better results.
Every platform is a world by itself, Just because a specific kind of posts made a huge effect on a platform, that doesn’t mean making the same effect on another platform.
For example, let us refer to (Twitter) as a 30-year-old man who likes reading, if you gave him a video to watch, he won’t be so keen on it.
This is what I mean by the right format.
The Market’s Trends
Trends are important, they are more like a guide for you.
Being aware of the current and latest trends and not only in social media is so important for your market research strategy.
Being able to understand the current trends, helps you to predict the future market.
Not only this but sometimes it warns you about a mistake with your strategy system.
Knowing the trends will make you think a little bit more than the usual, which means more creative ideas.
Keeping up with the trends also helps you to improve your business strategy.
2- Setting up the plan itself
After researching your audience, platforms, your suitable format, and the current market’s trends.
You will have to set up a good marketing plan.
An Awareness Campaign
Every business’s success starts with a good awareness campaign.
An awareness campaign in which you put all of your effort to inform your audience about your products.
For your awareness campaign, you can depend on using hashtags,
you can use an industry-related hashtag such as (Food, Beverages, etc.).
Also, you can use your hashtags which is related directly to your brand, and try to be creative as much as you can.
Always remember that the more popular your hashtags get, the more people know about your brand.
Nowadays, Influencers can make a huge turning point on how your strategic plan in the FMCG’s market goes,
due to their power of reaching a huge number of and it also increase the consumer awareness of your brand’s products
Influencer marketing is very useful because customers are more likely to believe in your FMCG brand,
When someone whom they trust recommends it to them.
3- Your FMCG sales strategy
Your selling strategy must include two important things ( increasing the width of your distribution, and increasing the depth of your distribution).
The width of distribution which refers to reaching out for more places to sell your product,
which can be increased in direct and indirect ways.
And the depth of distribution means improving your products range in the outlets.
And to make that happen, there are too many important tips that we have to pay attention to them
The price you decide to sell your products needs to meet your customers’ needs and expectations, this is why you have to do market research on your competitors, and in the fast-moving consumer goods market, there are two pricing strategies ( EDLP, and HILO).
EDLP: Everyday low price is a pricing strategy in which you offer your customers low price without having to wait for sale or promotions, and that works on milk, eggs, and home essentials.
HILO: High-low pricing is a strategy where your products are being priced higher than competitors, but lower prices are offered on other terms, and that works on chocolates and luxury products.
So you have to balance and pick the right price.
Distribution is one of the most important steps for your success in the FMCG business.
Through distribution products are made available to every outlet,
Which means that actual engagement with your audience and that happens in two ways (through outlets and supermarkets, and online website)
The supermarkets’ environment allows the customer to direct engagement with your brand and your products,
it allows your brand to be more famous and well-known, but also it requires that your products must arrive on time.
You must choose a supplier that understands the pressure of customers’ needs,
A supplier who understands seasonal changes and can offer a good management system.
And for the online distribution, Not all of the FMCG products can be sold online.
But with the launch of many websites that let you purchase some of the FMCG products online, an increasing number of customers started to shop online.
And due to the busy world, we are living I today so even if a customer has an intention of buying your product, they will choose a competitor’s product if yours is not available in online stocks.
Also, you can benefit from the online stocks that it will give you the advantage of being able to reach the audience beyond a limited geographical location, which is not available in the local markets.
And this kind of distribution can work on the beauty cosmetics for hair and the skin, and it can work on consumer electronics such as mobile phones, headphones, chargers, and etc.
4- After-sales services
It is the most important part in the sales process when it comes to the fast-moving consumer goods business, your customers’ service’s team needs to be professional, needs to have major skills in communicating in order to keep your customers loyal to your business.
Let customers feel that they can count on your after-sales services when it comes to your high-quality products.
The data you receive while making customers sign up for your site can be, used in communicating further, like sending special offers to your customers.
Remember that making your customers happy and satisfied makes your business stays on the top, and it also makes customers stick with your brand.
5- Do not settle down
Don’t settle down for your success or your failure.
The markets always change and it is getting more competitive, so always think for today and tomorrow.
Fast-moving consumer good market is a very competitive industry that needs lots of skills.
Researching is a key for success, and always analyze your competitors’ results, and analyze yours too.
Your marketing plan represents your brand and your ideas.
Your customers are the measure of your process.
Last but not least, entering the world of the fast-moving consumer good is interesting,
but needs a powerful team, to keep up with the market.