This is our story of co-creating a solution with a leading Consumer Packaged Goods (CPG) company
As we know…
Data on consumer preferences, if analyzed accurately, can reveal brilliant insights into the psyche of customers. This can help companies sharpen their growth strategies. It’s the reason advanced data analytics has become a crucial part of companies’ success toolkits.
The challenge for the CPG company was…
It required an advanced analytics framework and solution to get insights on the consumption patterns for specific products. By leveraging these insights, the company was looking at crafting the right messages to position the products. The goal was to eventually increase market share. The company partnered with WNS to get better insights on customers’ consumption patterns.
Here’s what we co-created as a solution…
WNS leveraged its unique and proprietary consumption patterns’ insights framework to design and implement a new method of consumer data analytics based on the principles of data science. Using the analytics-led framework, data from an attitudinal study and information procured from customers were analyzed.
The framework combined with statistical exploration helped get specific insights on consumer behavior.
The solution entailed:
This approach enabled WNS to get granular insights on the consumption patterns for a specific product. The learning from this was applied across different products.
The outcomes from the process of co-creation are…
The CPG company was able to better align its products with real-life activities of its customers, leading to higher product consumption, increased market penetration and enhanced sales.
The consumption patterns’ insights framework enabled the client to:
Ultimately, this exercise brought the company much closer to its consumers and helped increase market share. After seeing several tangible benefits in one specific region, the client is now planning to apply this analytics framework across all units in different markets.