Fast moving consumer goods refer to products like soaps, toothpaste and cosmetic products. These are products that we require in our daily lives.
Some of the biggest names in the industry include: Nestle AG with over USD 90.8 billion in sales; followed by Procter & Gamble with USD 64.8 billion; Pepsi Co. with USD 62.79 billion and Unilever at USD 58.3 billion.
The FMCG market is a highly saturated; it is challenging for new players to create a place for themselves. The only way in which you can get an edge over the competition is through an effective marketing strategy.
According to business consultants, the most effective way for these small companies to create a place for themselves is through social media marketing. The e-commerce market has grown substantially in the last couple of years. Here are some of the advantages of social media marketing in the FMCG industry:
More people are buying products online
With the presence of social media, it has become quite easy for people to interact with one another. People prefer to shop online because it is far more convenient than traditional shopping.
There are over 3.773 billion internet users and a large number of those people use social media services as well.
For FMCGs, this is beneficial since it helps in gathering the information about the customers. It also helps them in marketing their products to a larger segment.
It is the ideal place to display products
Unlike physical stores, customers can use the services of online stores at any time of the day. The benefit of social media in this regard is that you can set the target audience for your products, which ensures that you market the products to the relevant segment.
Social media platforms like Facebook, Twitter and Snap chat allow you to create separate handles, which allow you to display all your products and services. It also helps in reducing the costs of storing and managing the inventory.
Helps in understanding consumer behavior
Marketing your products to consumers is a very tricky business since all consumers have separate demands and expectations with the products. With social media platforms, you are able to analyze and study the behavior of the people who visit your website.
It tells you how many people actually purchased a product after visiting your page and how many of them actually came back to buy more goods and services. It also gives you an idea regarding customer demographics and the time at which you should expect maximum visitors.
Direct connection with distributors
The survival of the FMCG industry depends upon the distributors. Social media platforms help you in getting directly in touch with the distributors of the products. You can evaluate their social media profiles before you decide to engage in business with them. It can save you money and can help you in expanding your consumer base.
Do you want to start a FMCG business and are looking for advice? Visit our page to get advice regarding the competitiveness in the FMCG market learn the different ways to build brand.
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