UAE based social media and digital marketing service provider Dubai Media Network (DMN) says that the ability of social media to amplify word-of-mouth marketing has been transforming the fast-moving consumer goods (FMCG) landscape in the oil-rich GCC region.
Tariq Abu Samra, head of business development at DMN, says in a press statement that companies in the FMCG industry can significantly benefit from a properly executed social media strategy, which holds the potential to effectively reach a wider and more diverse consumer base.
“FMCG has become a very competitive industry. We’re talking about a sector that has potentially dozens of brands vying in one segment alone. In a region like the GCC, it is common to find local and international brands that appeal to the region’s multinational population,” Samra says.
According to recent industry estimates, the GCC’s FMCG market will likely cross the $270 billion mark by 2018. This comes as the regional population is expected to expand to around 53.5 million by 2020. Consequently, the Internet penetration rate in the GCC is also on an uptrend, growing from the 2013 level of 54.99 percent to an estimated 66.82 percent by 2017.
“Tapping social media to promote your brand amidst a sea of competitors is crucial in a market such as the GCC. While it has the potential to influence consumers’ buying habits, social media is also an ideal tool to bring brands and consumers closer, helping companies to reach out and engage with consumers,” adds Samra.
