Ensuring Marketing Success This Holiday Season!
The Consumer Packaged Goods (CPG) industry is a fast-paced, ever-changing environment. With the holiday season rapidly coming and the problems of inventory management and marketing strategies looming large, brands are looking for guidance to navigate these waters successfully. Ish Jolly, co-founder and CEO of OpenSponsorship, and Sean De Clercq, CEO of Kickfurther, discussed their insights on these difficulties and offered effective strategies for CPG businesses in our most recent webinar.
1. Power of Partnerships
Both OpenSponsorship and Kickfurther recognize the need for teamwork, particularly when serving CPG clients. Kickfurther provides solutions for inventory and physical asset funding, whereas OpenSponsorship focuses on leveraging athlete and celebrity sponsorships for brand marketing. When these two elements are merged, they can result in a comprehensive strategy for CPG brands.
2. Understanding Inventory Management
Sean, who has a background in Supply Chain Management, highlighted the difficulties in funding the expansion of a product business.
He talked about his entrepreneurial path and how Kickfurther came to be, emphasizing the necessity for a tailored solution for inventory funding. Sean emphasized the need to plan ahead in light of the current macroeconomic environment and rising interest rates. He recommended brands acquire finance well in advance to avoid costly last-minute deals.
3. The Role of Marketing in Business Growth
Ishveen highlighted the evolution of sponsorship in the digital era, building on her experience as a sports agent.
She underlined the importance of data-driven, effective marketing techniques. With its huge network of over 18,000 athletes, OpenSponsorship bridges the gap between influencer marketing and traditional sponsorship. Ishveen emphasized the importance of CPG in their portfolio, particularly in the health and wellness sector.
The significance of testing marketing techniques was one of the important lessons from the conversation. Sean used the example of Peloton to emphasize the importance of brands understanding the causes for their success. Brands may make educated judgments and invest wisely by being deliberate with marketing strategy and understanding the outcomes.
4. Strategizing for Success
When asked about the factors that contribute to success, Sean underlined the importance of the team for equity-based funding. When it comes to debt financing, the emphasis turns to revenue and cash flow. With its relationship-based approach, Kickfurther seeks brands with long-term growth potential.
The panel also discussed the difficulties of harmonizing marketing strategy with existing resources. Ishveen and Sean both agreed that it is critical to maximize profits by exploiting current assets, whether they are influencer partnerships or merchandise.
5. Local vs. National Campaigns
The conflict between local and national campaigns remains pertinent in the ever-changing world of CPG marketing. Sean argued that before expanding nationally, a local "beachhead" market should be established. This strategy enables brands to lay a solid foundation and then use that strength for greater reach.
From inventory management to marketing techniques, the webinar delivered a variety of insights for CPG brands. To maximize their potential as the holiday season approaches, marketers must be proactive in their preparation and leverage partnerships such as those with OpenSponsorship and Kickfurther.
Are you ready to improve your brand's marketing strategy? Join the OpenSponsorship platform today to capitalize on the power of athlete and celebrity sponsorships. Don't forget to look into Kickfurther for customized inventory funding solutions. Let's take your CPG brand to new heights together. Sign up for OpenSponsorship right now!