Consumer goods leaders discover the key to profitable growth
They’re Just-in-Time (JIT) Marketers, and they out-grow and out-earn the rest of the consumer goods industry. They’re skilled at directing compelling messages or offers to the consumer in the mood to buy, and they integrate digital and analytical capabilities firmly into their operating models while focusing strongly on profitable growth. It’s a strategy that pays off: on a global, cross-industry basis, JIT Marketers enjoy growth that exceeds 26 percent over both one and three year periods much more often than their peers do.
Traditional marketing methods produce hit or miss results
Accenture research shows that even when companies use the most effective marketing tactics, less than 20 percent of the consumers they reach find the messages relevant, resulting in waste, inefficiency and poor quality. JIT Marketers focus intently on eliminating this waste, and they do a lot more. These players understand that in the current environment, achieving sustainable profitable growth takes more than cost cutting—it requires robust operational capabilities, innovative new business models, strong leadership, digital maturity, well-positioned categories and brands, and exceptional customer knowledge.
Embracing the five keys to JIT marketing success
We’ve identified five characteristics that set JIT Marketers apart from the rest of the consumer goods industry.
Value delivery: They invest in marketing infrastructure that enables them to communicate and execute their customer value propositions.
Leadership: They have the strong leaders needed to balance effectiveness with efficiency and to support and drive the company’s marketing strategy and vision.
Digital maturity: JIT marketers have mastered the functional digital capabilities they need to reach the customer anytime, anywhere. They also benefit from mature ecosystems, and invest in the technologies required to support their market positions.
Categories and brands: These companies anticipate the rapid turnover of the products and services they offer to consumers while cultivating the ability to innovate, develop, manage and launch new offerings in the marketplace.
Consumer and customer knowledge: They identify and use customer and overall consumer data to pursue effective marketing strategies, and strive to obtain a high level of understanding of both groups.