Consumer packaged goods (CPG) companies could gain competitive advantage amid the significant blow of the coronavirus disease 2019 (COVID-19) pandemic, a business expert and entrepreneur said on Friday.
“They are standing and fighting on the frontline against the blow of the pandemic, given the spike in appreciation for shelf-stable foods and other CPGs,” Raz Biton, co-founder of Social Influence, a full-service digital marketing agency based in Los Angeles specializing in online brand development for CPGs, said in a recent interview.
The core impacts of the COVID-19 pandemic is seen to remain in the medium to long term across the consumer packaged goods value chain, especially across supply chains, the organization model, the channel mix and consumer behaviors.
In a research conducted by Opinium and LiveArea in May, more than half or 54 percent of companies in the United States said they are likely to revamp their long-term business tactics and strategies as a result of the pandemic.
While the need to focus on keeping shelves stocked with critical items is paramount in a financial and health crisis like this one, Raz said bolstering communications that matches the prevailing consumer sentiment is also important.
Raz, a first-generation American, said with the onslaught of the health crisis, expert communication proves to drive trust in a brand.
“Trust is the ultimate thing here for consumers to make any decision, and they are indeed looking for trustworthy brands that do good and stand by their products,” Raz said.
Raz said brands now need to boost their communication with compassion and emotion, and how companies offer programs or solutions to uplift people’s lives.
“The pandemic has accentuated consumers’ need and desire for trust, given the escalation of fake news and misinformation online. Strong and familiar brands are gaining advantage and are ahead of the game,” he said.
Raz, who has been working in sales for almost a decade, worked for an office supply company before taking the path to entrepreneurship.
The young entrepreneur partnered up with a company to begin his first venture, while still figuring out the ins and outs of owning his own business.
Raz, touted as a business development powerhouse, urged businesses especially small enterprises, to boost brand trust and communicate real expertise and social care.
“This has a sharper value proposition that can gain the trust of customers. Expert communication is always the key forward,” he said.
Building a portfolio of large fortune 500 companies, among them Union Bank, Viacom, and Paramount Pictures, Raz left Apex Systems to begin a venture in the world of Digital Marketing and co-founded Social Influence with his partner Jonathan Amir.
The services offered by Social Influence, Raz said, “obviate the need for expensive in-house marketing teams and one-trick-pony boutiques.”
“Especially at a time of a pandemic, companies have unique needs. And understanding their unique needs, challenges, and goals to optimize their presence across your social media, eCommerce, and retail platforms to propel their brand into the spotlight is the way to sustain gains and level up the game,” he said.
