\r\n
The inaugural GroceryTech event, produced by Progressive Grocer and RIS News, brings together the combined community of business and technology grocery executives on the journey to modernize their technology infrastructure to support innovation — to help grocers replicate the “small neighborhood grocery store on the corner” concept, while still operating profitably at scale.
\r\n\r\nUltimately, Birse said, CPGs want fully-integrated enterprise-level relationships with their retail partners making them capable of building a much closer relationship with their customers with the ability to go deep on granular and personal levels.
\r\n\r\nAll of that is built on a foundation of trust, he said. “If we’re going to share data, we need to trust each other. We have to build solid relationships so that, mutually, we’re going to win together. It’s not a short-term affair, it’s a long-term relationship.”
\r\n\r\nBirse shared how a fully integrated use of shared data and analytics in full-funnel marketing can create laser-targeted customized shopping experiences and shepherd savvy customers through the marketing funnel with precision. The process, once completed, results in a rich data set that can be shared with the supply chain; for example, “to get on top of demand, instead of chasing it,” he said.
\r\n\r\nAffinity marketing will level up, he predicts, as generative AI becomes safer to use. For example, AI might be used to tweak the creative on certain ad campaigns to create dynamic, personalized ads that allow customers to recognize themselves and what appeals most to them, capturing an extra level of conversion.
\r\n\r\nBirse cautioned against using data in an “everything, everywhere, all at once” mentality, referencing the Oscar-winning film. “You have to think of it more a la carte,” he said. “It’s not an all-you-can-eat buffet all the time. It’s poorer quality when you do it that way.”
\r\n\r\nAnd it’s critical to let the machine decide which levers to pull, and in what sequence to pull them, because each door has a different opportunity depending on the circumstances, like position and demographic.
\r\n\r\n“Businesses have been data-led for quite some time,” said Birse. “If we’re not partner-driven, if we’re not going to bring partnerships to our data use cases, we’re not going to succeed.”
\r\n\r\nBirse encourages leaders to focus on building those collaborative partnerships for the future.
\r\n\r\n“Selling data is a quick cash grab. Sharing data has got much more long-term return on investment that can last you much longer than anything you can imagine.”
\r\n\r\nThis article first appeared on the site of sister publication CGT.
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