Through a special arrangement, presented here for discussion is a summary of a current article from the monthly e-zine, CPGmatters.
Some CPG manufacturers and retailers are replacing traditional co-marketing methods with a new form of collaboration called "shared media." The program calls for jointly developing a strategic approach to communicating with shoppers along the path to purchase.
The ideal result: consumers have a better shopping experience, manufacturers boost their brands and retailers increase traffic and conversion.
This three-way win is what defines the successful leveraging of shared media, says Alison Lewis, SVP, marketing, North America for Coca-Cola. She spoke alongside Jocelyn Wong, chief marketing officer at Family Dollar, about their shared experience with shared media in a keynote address at the recent Shopper Marketing Expo in Chicago.
The trading partners built a promotion that would encourage shoppers to pick up a beverage and snack for a "moment of happiness" with the family.
The shared media process began with building a foundation based on assessments and shared insights. Both sides sought to fill each other's knowledge gaps. They then developed a strategy to find that sweet spot to engage the shopper along the path to purchase. Lewis said they asked several questions:
- Who is the shopper?
- What is important to her?
- What brand or occasion best fits?
Both companies agreed it was important to ramp up the use of Twitter, radio and bus stop signage; texts to friends and family; and posts on Family Dollar's Facebook page. In addition, deals could be presented in circulars, printed on receipts, flashed on digital signs at the shelf, and posted on the Family Dollar website.
More than 25 percent of Family Dollar shoppers take the bus, so advertising on bus shelters became a key part of the program.
After the shopping trip, the trading partners wanted to give shoppers a compelling reason to share their experience at Family Dollar. So, in-store receipts were used. Shoppers texted information from the receipt to learn about their reward for visiting Family Dollar.
The companies leveraged both Coca-Cola's and Family Dollar's Facebook pages to engage shoppers. Consumers were invited to have a say because the concept of voting is popular, Ms. Lewis said.
"There are so many cross-functional groups within both organizations that must be aligned across and within," Ms. Lewis explained. "Family Dollar and Coke both have profit and loss statements. How do they compare? What is in it for the shopper?"
Shopper measurements to determine how well the program was working included traffic, conversion, frequency of purchase, size of purchase and return on investment.
The executives agreed that shared media requires both trading partners to think and work differently, and then use a more disciplined process to connect with the shopper. They need to work closely to create a mutually beneficial environment and leverage connection points to conversion.