CPG Companies Need To Fine Tune Their Digital Marketing Machine

Online sales at CPG companies are growing three times faster than at other companies, mainly because they are finally taking advantage of the marketing opportunities presented by mobile devices. Researcher McKinsey says online sales will account for up to 30 percent ($50 billion) of total CPG growth in the next five years. The online research rate for some CPG products is astonishing: 45 percent for cereal, 55 percent for soap and 65 percent for cosmetics. For the future, successful CPG companies need to follow three winning practices: build strong account-management teams to serve strategic retail partners, develop next-generation e-category management, and build “digital quotient,” which McKinsey defines as an assessment of a company’s digital maturity and capabilities and how they drive financial performance.