Improve your wallet share: The essential strategy guide to retail ecommerce for CPGs
Get the CPG wallet share your brand deserves with retail ecommerce. Use our tips to boost awareness, drive trials, and build shopper loyalty.
Boost your CPG brand’s performance by capturing a greater share of wallet through retail ecommerce. Share of wallet represents how much a consumer regularly spends on your brand as opposed to competitor brands. This strategy focuses on driving awareness, encouraging trial purchases, and securing repeat shoppers by leveraging advanced tools and insights. Here are actionable best practices to maximize your share of wallet using retail ecommerce!
Increasing awareness of your brand is the first step to expanding your consumer base and building loyalty. Generating awareness helps brands take advantage of the halo effect. By pushing awareness through product discovery, brands show availability that leads to purchase intent.
Here’s how your CPG brand can make an impact:
Make it impossible for shoppers to miss a purchase opportunity! Add shoppable links to organic and paid social posts, blogs, influencer content, and social media bios. For example: See how Santa Cruz Organic featured their Store Locator in their Instagram bio Linktree.
The goal: Make every potential shopper aware of where (and how) they can purchase your products.
Leverage the halo effect by creating a positive impression of your brand based on a single characteristic. In this case, it’s the ease of helping consumers find your products, whether it's online or in-store. Daily inventory updates tell shoppers exactly where they can grab your items digitally or at a location near them—making life easier for your consumers and increasing your visibility.
Boost your marketing results with data-driven targeting! Leverage insights from your Store Locator or Shoppable PDP page loads to create lookalike audiences and run effective awareness campaigns.
Getting someone to try your product for the first time is a huge win and the first step to a consumer becoming an avid champion of your brand. Enabling product purchases at retail helps convince new consumers who may prefer trial before committing to the shipping thresholds associated with direct-to-consumer orders.
Remove common barriers for new consumers with these tactics:
Use rebates to encourage first-time purchases. Capture new consumers by offering rebates to incentivize shoppers to purchase their first product on your where-to-buy media destinations. Once they’ve purchased, add them to your newsletter and deliver educational content that familiarizes them with your brand and other products.
Target users who added products to their cart but didn’t check out. Retarget them with coupons or discounts to make their first purchase more enticing.
When you unveil a new product or product line to the world, you want to make your goods readily available and get feedback on how it’s received. Retail ecommerce provides unique opportunities for launching new products and gathering shopper insights quickly to inform future data-driven decision making.
Get the most out of it with these steps:
Leverage data insights from Pear Vision to better understand your consumers’ shopping behavior and optimize campaigns. Focus on key areas like product launches, locations, and retailer partnerships to ensure your marketing dollars drive impactful results.
Once you’ve calculated your retailer share of voice, you can begin implementing effective retail ecommerce strategies. For Consumer Packaged Goods (CPGs), "retailer share of voice" refers to the percentage of online visibility a brand has on a retailer’s platform compared to its competitors. It reflects the brand’s presence in areas like search results, product listings, and shopper engagement. Analyzing this data can reveal valuable opportunities to boost sales and strengthen partnerships with retailers.
Winning repeat business is where long-term success lies. Using the data and insights Pear provides helps brands strategically increase returning shoppers through targeted media campaigns. True performance marketing tactics for retail are unlocked once a brand builds a sufficient audience pool of Impressions, Retailer Visits, and Purchases.
Use Pear’s purchaser audiences to drive down-funnel paid social and paid search activity. By integrating your ad networks’ to all Pear-powered experiences, audiences can be built and then retargeted on the ideal media platform for any subsequent campaign to generate the highest return. With ad network pixels embedded in all Pear-powered tools, retargeting has never been easier.
Integrate your campaigns with major ad networks like Meta, Snap, or Pinterest, allowing machine learning to automatically tweak and improve performance. Your ad network is designed to deliver the most relevant products to engaged consumers on your behalf.
By partnering with tools like Pear, your brand can unlock advanced targeting strategies, optimize campaigns in real-time, and achieve your revenue goals more efficiently!
Take your retail ecommerce strategy to the next level. Connect with our team today and discover how Pear can help your CPG brand increase its share of wallet with smarter tools and actionable insights.
Get started today 👉
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