Any business can attest that they strive to aim for the top of the customer satisfaction pyramid. For CPG companies, while the shopper ultimately dictates how successful their products are, customer engagement, on the other hand, is the most powerful lever in determining what products the shopper gets exposed to. Customers are central to distribution strategy, determining what and where items get put on shelf, how they are priced, promoted and much more. Thus, customer feedback holds the key to business performance providing truly insightful feedback to CPG companies on how to strengthen relationships, power-up opportunities, and unlock barriers to growth.
Top performing relationships (of any kind) are successful through ongoing communication and collaboration. Customer feedback is important in order to have a genuine lens into how suppliers are performing with their retailer partners and vice versa. Yet, critical feedback may not be easy to hear and digest directly between partners. For this reason, many companies trust the counsel of a third-party source to collect, synthesize and analyze their feedback. By gaining honest, critical feedback from customers, suppliers can gain visibility into the perceptions of retailers and have a deeper understanding of where to make effective changes within their business. Advantage Group engages with key stakeholders at retailers’ businesses on behalf of our supplier clients, keeping their mutual interests top of mind so they can work better together.
The reason why suppliers want to seek input from their partners is so they can recognize where improvements and important business decisions need to be made. Authentic feedback from a focused group of respondents can help suppliers become better equipped to evolve their product portfolios as well as streamline their business processes efficiencies, and supply chain alignment. Let’s also not forget the goal of enhancing the overall relationships they have with their retail customers. The prize of customer engagement is what you can achieve with an engaged customer.
We, at Advantage Group, are the specialists when it comes to customer engagement. Our solutions are used by leading global companies (in over 40 countries) as the central source of customer feedback. We conduct robust surveys based on a panel of specific individuals that suppliers and retailers determine to be relevant and have done so for more than 30 years.
Advantage Report helps suppliers strengthen their retailer engagement through data, insights, and action planning. Connect with an Engagement Advisor today.