Identifying the right CPG partnership can be challenging

Good competitive data allows CPG companies to accurately assess product performance, understand competitive and market dynamics, as well as obtain insights into their channel, category, and geographic region. 

Not only that, but having competitive data is essential for CPG companies to gain an edge in acquiring new customers, as well as to fuel faster growth and improve product/service offerings. But good competitive data is not something many companies can find on their own. To make things more difficult, most companies that offer competitive data services exist in a “bubble,” preventing them from providing a complete and nuanced picture. 

However, partnering with a company that provides granular data, and a platform that unifies these disparate data sets, can help CPG businesses acquire competitive information that would not otherwise be available—all while giving these companies the confidence to act on it. 

3 ways data partnerships can help your business

1) Sometimes the problem is having too much data 

Retailers and manufacturers in the CPG industry today have access to more data than ever before, and connecting these data sets can be time-consuming and challenging. 

By using the most granular and integrated data sets, you’ll be able to talk to your CPG customers in the same data language, offering them exactly what they need and saving them time on connecting the dots. 

2) Properly analyzed information helps to enhance your products

The optimal data set allows you to make your service offerings more accurate, more actionable, and more consistent. This can impact services such as data visualisation, data integration, analytics platforms, trade marketing insights, trade marketing optimization mechanisms, and more. 

With the power of streamlined and trusted data, you can amplify the capabilities of your product or service. You will be able to enhance your R&D, demo, and pre-sale processes, as well as provide your clients with products that would truly benefit their business and, in turn, your own.

3) Unlock new revenue streams

New data sets can open new horizons for creating innovative offerings, which can certainly help satisfy your customers’ needs. Connecting different NielsenIQ data sets, such as Retail Measurement Services (RMS) or Consumer Panel data, gives you an opportunity to see the full market picture and find the gaps CPG players might want to close. This gives you a way to create new market offerings and generate new revenue streams. 

So how can you amplify your business? CPG partnership

Using the most granular and integrated data sets in your everyday business process will help you:

• Acquire new customers 
• Enhance existing products/services
• Create new product offerings 

If you’re looking to give your company the edge it needs to beat your competition, identifying a trusted partner is the place to start. Tap into all the benefits of the partnership to take your company to the next level.