A Four-Point Guide to the Importance of Engagement in the FMCG Industry
According to research, understanding brand health begins with understanding the connection between consumer engagement and value to the brand. It demonstrates that for nearly all brands, leadership is attained by securing emotional commitment (adorers) from a small percentage of the brand community, the high-value consumers (HVCs). Minor adjustments in the management of these HVCs can have a significant impact on sales, margin, and market share. Or, to put it another way, HVC strategies can significantly affect revenue protection, revenue growth, revenue development, and cost of sales. New and exciting opportunities for brands to grow engagement with their brand community have emerged due to the convergence of two forces (new, less expensive technologies and consumer behaviors). CPGs, on the other hand, have had negative experiences with direct and interactive communications and still need to prepare to take advantage of the opportunity. Instead, they rely on conventional methods of br