Digital connectedness dominates the customer experience. As digital customers, we use multiple devices, functioning in a myriad of ways to research, shop, and purchase basic necessities, including consumer healthcare products like sunscreen, vitamins, and toothpaste.
To be successful in this rapidly evolving marketplace, consumer healthcare companies must make digital investments now or risk missing their top-line growth objective. According to a Customer and Channel Management Survey, online commerce is predicted to account for 10 to 30 percent of total consumer product growth in the next 5 years, which equates to around $15 to 50 billion.
Brands and businesses are dependent on the creation and implementation of sophisticated, connected digital services in full support of consumer buying experiences and decisions. Brands must tailor strategies to consumers who are demanding simplicity, flexibility, and immediacy.
There are 3 core digital strategies that should be addressed to ensure brand and company success:
1. Fast, smart, and actionable data must drive digital brand strategy
Big Data is overwhelming and most organization struggle to use it effectively. Fast-and Smart-Data is the solution. Fast Data applies Big Data analytics to smaller data sets in real time. The aim is to mine data quickly and uncover actionable information for companies and brands to enhance their customer experience.
2. Digital disruption via the right channels at the right time enhances the customer experience and brand uptake
Streamline the customer experience using actionable data to create digital relationships making sure to use an omni-channel approach. Consumers research and experience products through every conceivable communication channel, and brands must provide these consumers with relevant product information to support purchase decisions.
3. Commit to digital through investment of time, money, and resources to create, assess, and adjust strategy
Leading companies and brands are rewriting their strategies to dominate and win in digital spaces. They are working in lockstep with consumer cross-channel behavior to create bold, tightly integrated digital strategies. This takes commitment, expertise, and dedication to winning in the digital landscape. Companies with poor or nonexistent digital capabilities result in brands missing out on a huge opportunity to engage with consumers.
Learn more in Paragon’s white paper on Consumer Healthcare: Winning in the Digital Landscape.
Brand success and market position lies in the ability to embrace and adapt to the rapidly evolving digital landscape. Be bold, be innovative, and reap the brand rewards.