15% of consumer products companies are both highly focused on their consumers and strong users of analytics, according to a study conducted by the IBM Center for Applied Insights in partnership with Kantar Retail. These “leaders,” as they’re dubbed by the researchers, tend to do better than their peers in capital markets and have more influence among their retail customers. Among the ways in which they differ from other companies, Leaders are more likely to: balance retailers’ needs with consumer needs; have collaborative sales functions; and leverage analytics to assist critical sales activities.
Marketers are looking at big data as a way to become more customer-centric, so it’s not surprising that consumer products Leaders who are active users of analytics also have more of a consumer focus. According to the IBM study, 61% of Leaders balance the needs of consumers with those of retailers, compared to 36% of other companies. And while 54% of Leaders make decisions that are driven by consumers needs (not completely determined by the retailer’s top-down needs), only 28% of the other study respondents concurred. At least half of Leaders are Read the rest at MarketingCharts.