EXECUTIVE SUMMARY

In the fast-paced realm of Fast Moving Consumer Goods (FMCG), data-driven insights are indispensable for informed decision-making, risk mitigation, and customer satisfaction enhancement. The FMCG industry operates within a competitive landscape influenced by macroeconomic factors, evolving consumer preferences, regulatory mandates, marketing and market dynamics. FMCG stakeholders must harness advanced data management and analytics tools to thrive amidst these challenges to discern consumer behavior, preferences, demand patterns, and market trends. Goloka, an AI-powered platform, offers holistic solutions for data collection, warehousing, and analysis, empowering FMCG organisations to leverage actionable insights for strategic advantage.

Context and Challenge

An FMCG company prepares to introduce a new beverage flavor blending ginger, tangerine, and date fruit, catering to evolving consumer tastes and preferences which has affected sales in the past 4 quarters. However, the company faces the challenge of uncertainty regarding consumer reception and preference for the new flavor. To mitigate this risk and ensure the success of the product launch, the company seeks to conduct a market survey to gauge consumer preferences accurately.

Goloka: The Solution

To address the challenge of understanding consumer preferences for the new beverage flavor, the FMCG company utilized Goloka for it primary data collection. 

The company strategically launched a focused campaign across four key regions in Nigeria—Southwest, North Central, Southeast, and South South—recognized as pivotal hubs for its product consumption nationwide.

The company initiated a robust data collection process, aiming to gather insights from a substantial sample size of 1 million consumers across the targeted regions. To achieve this, they created a campaign and survey questions on Goloka and deployed them to approximately 1000 agents in all of the targeted regions. These agents were tasked with engaging beverage consumers, gathering their responses, and also capturing on-shelf images of tangerine and ginger-flavored drinks in various retail outlets, malls, and stores.

The FMCG company didn’t need to worry about the logistics involved in paying the agents as goloka comes with an integrated payment and wallet system.  Upon the successful submission and validation of survey responses, funds were efficiently disbursed from the organisational wallet to individual agents, ensuring prompt and fair compensation for the data collection task.

Additionally, Goloka served as a centralized repository for storing collected data. Goloka securely stored the gathered information through its robust data warehousing capabilities, safeguarding it from loss or unauthorized access. This centralized storage system streamlined data management processes, enabling easy access and retrieval of information as needed.

Furthermore, Goloka's real-time analytics engine generated instantaneous insights from the collected data. By continuously analyzing incoming survey responses and on-shelf images, Goloka generated actionable insights in real time, empowering decision-makers to promptly respond to emerging trends and consumer preferences. This rapid insight generation capability facilitated agile decision-making and strategic adjustments, enhancing the company's competitive edge in the dynamic FMCG market.

The implementation of Goloka yielded significant outcomes for the FMCG company:

Enhanced Consumer Understanding and Product Development: Goloka's data collection capabilities empowered the company with comprehensive insights into consumer preferences and behaviors across diverse regions. This deeper understanding facilitated tailored product offerings, driving heightened consumer engagement and loyalty. Through valuable consumer data collection, the company gained insight on the new beverage flavor's reception, perception and areas for enhancement, Goloka enabled iterative product development, refining the product to better align with consumer expectations and preferences.

Optimized Marketing Strategies: Goloka's real-time insights enabled the company to dynamically adjust its marketing strategies based on emerging trends and consumer feedback. By deploying targeted campaigns and promotions, the company effectively stimulated demand for the new beverage flavor, resulting in increased brand visibility and market penetration.

Streamlined Operations: The seamless data collection and analysis process facilitated by Goloka enhanced operational efficiency for the company. By automating data management tasks and providing real-time insights, Goloka enabled the company to streamline decision-making processes and allocate resources more effectively, ultimately driving cost savings and improving overall business performance.