The FMCG (Fast Moving Consumer Goods) industry in India is growing at a steady pace. It is the fourth largest industry in the Indian economy so far. The industry is segregated into the food and beverages (19%), healthcare (31%) along with household and personal care (50%) sectors.
Overview of Fast Moving Consumer Goods Industry in India
Factors such as rising awareness, evolving lifestyle and easier access have contributed to the growth of the FMCG industry. This market has become more widespread in rural India over the last few years owing to the rise in rural consumption of fast moving consumer goods. Certain government initiatives such as the allowance of 100% FDI (foreign direct investment) in food processing and single-brand retail as well as 51% FDI in multi-brand retail can account for high visibility of FMCG brands in well-organized retail markets. This will result in increasing supply chains, more employment opportunities; along with encouraging more product launches and in boosting consumer spending.
Indian companies such as Emami Limited (healthcare and personal care products), ITC ((Indian Tobacco Company) food and beverages and healthcare products), Dabur India Limited (food and beverages, healthcare and personal care products) and such meet the rising demand of fast moving consumer goods and contribute to the overall growth of the FMCG industry in India.
Direct response advertising is no longer feasible in the present times. Marketers need to take the time to understand the customers and take measures to meet their requirements. They need to keep the customers first and foremost online.
Listed below is a multi-step social media strategy that marketers can use for engaging with the audience and obtaining positive results on a modest budget:
Obtaining Positive Social Media Results on Modest Budget
- Mapping and planning where they want the customers to go
- Creating content pieces
- Building a custom audience
- Motivating this audience to turn into customers by making a purchase
Marketers need to map and plan where they want the ideal customer to go. Then they should personalize this aspect in their social media advertising process so that the customer can have a smooth buying process. The marketers can then study the actions and buying patterns of their customers in order to serve them better.
Marketers need to create compelling and worthwhile content on social media channels such as Facebook and Instagram for their ideal customers. This content should be in keeping with the ongoing situation during the present time. The content should pique the interest of the audience and make them curious and eager to know about the brand being advertised.
Marketers need to build a custom audience made up of the people who had previously engaged with their first post (content piece) or their first video on social media. This is the stage from which the marketers should propel their customers forward in the buyers’ journey or to the next conversion point.
Marketers should then motivate the people belonging to their custom audience to take the next step of making a purchase. They need to create specific content corresponding to every step in the buyer journey and study the pattern followed by their target audience. This makes it easier for marketers to understand when the audience will turn into customers and make a purchase with them.