By Ranjan Das
In today’s market, a level of stagnation or saturation of technological advancements has led to parity of products / services offered by various competing brands, having virtually no USP / “differentiator” that the brand can truly claim. In the 21st century, this is one of the most inevitable bottlenecks we all face in brand communication and marketing. The big question that stares us all in the face is how to attract and retain consumers and keep them loyal to our brand? The simplest answer with faster results for all marketers is to suggest a discount, price drop, or price difference. But this price reduction / reduction solution comes with its own set of downsides and a huge impact on the whole business, brand personality, consumer perception and reduced profitability.
The struggle to perceptually create a brand “differentiator” to capture and hold consumers’ attention begins with the creation of a brand. Some are trying popular methods such as celebrity endorsement, redesign, repackaging, media augmentation, exposure while others are experimenting with strong and compelling content that connects with the TG, distributed through media. selected and appropriate. These initiatives are timed at various touchpoints in the consumer’s personal and consumption journey.
This struggle to find the differentiator is the trigger for customer-centric marketing solutions, which evolve and revolve around customers and their needs. Instead of telling customers what to buy, it meets their needs and wants. Mapping this gap through customer-centric marketing is key to survival and conducive to the growth of brands and businesses under current market conditions. While almost all consumers appreciate customer-centric marketing solutions in one form or another, the majority of them are more likely to do business with this brand.
While there are plenty of solid reasons why brands and businesses should switch to consumer-centric marketing solutions (if they haven’t already) and focus, some of the benefits you can’t miss are:
Higher ROI is the number one reason brands and businesses need to focus on customer-centric marketing solutions. As this approach tries to better understand the client and his needs, the specific communication and marketing solution developed for him is more precise and targeted. A faster and higher percentage of conversion / sales is unnatural when marketing is customer centric. It pushes ROI numbers through the roof, compared to conventional methods.
Another benefit of customer-centric marketing solutions is that they are deeply rooted in pre-sales and post-sales services, ensuring a positive customer experience to boost customer retention. The repeat purchase and repeat positive experience improves the exposure and the consumer’s experience with the brand and leads to better brand loyalty which naturally translates into better business growth for the brand
Data richness is another monetizable aspect of customer-centric marketing solutions. The close interaction between the brand and the customer makes the company rich in data. If this data is interpreted correctly with an entrepreneurial vision, it not only offers the brand various new business avenues in allied or diversified product or service lines, but also a huge first player advantage. Various brands have benefited from this rich data resource in the past. They added products and services that their existing customers were looking for and were not shy about buying. This wealth of data gathered during customer-centric marketing solutions can grow a business on multiple levels and / or into a brand house.
Customers buy when they feel smart. This is exactly what customer-centric marketing solutions do. They allow the client to feel empowered and in control. This indirect sense of power and control repeatedly blurs the customer’s rational thinking, causing them to buy from the brand that makes them feel smart, without comparing too much.
The customer is king ‘is an old saying and will stay good forever. The sooner brands understand and embrace customer-centric marketing solutions, the faster they can grow and multiply. Hi customer!
The author is the Managing Director of Apppl Combine. The opinions expressed are personal.
Watch BE + with Ambi Parameswaran: conversation with industry leaders like Jasneet Bachal, Pawan Sarda, Siddhesh Joglekar