A major question that now stares all brands in the faces is how to attract and retain consumers and inspire loyalty?
In today’s market, a level of stagnation or saturation in technological advancement has resulted in similarities in products and services that different brands offer. This is one of the primary bottlenecks that marketers face in brand communication.
How, then, do marketers keep customers loyal to their brand? An easy answer to that question is to offer discounts or competitive price cuts. But this strategy often results in a negative impact on the business affecting consumer perception and overall profitability.
Creating a brand differentiator
The efforts to create and maintain a brand differentiator and work towards retaining consumer attention begins at the very birth of the brand. Celebrity endorsements, revamp, redesigned packaging and increased media exposure are common methods of creating brand awareness.
Brands need customer-oriented marketing
The vital need to identify a brand differentiator is the trigger for customer-oriented marketing solutions. These marketing initiatives evolve and revolve around customers and their individual needs.
In customer-oriented marketing, brands cater to the customer’s needs rather than tell them what to purchase. This is the key to survival in a competitive market. A majority of customers are more likely to do business with brands that leverage customer-oriented marketing strategies.
Benefits of customer-oriented marketing
Brands must focus largely on customer-oriented marketing strategies if they wish to achieve higher returns on investment (ROI). This allows them to craft marketing content that is more precise and targeted towards the right customer.
Brands that employ customer-oriented marketing initiatives are more deeply rooted in better post-sales services to ensure a positive customer experience and to encourage repeat business. This results in higher brand loyalty and ultimately better business performance for the brand.
Customer data is another aspect of customer-oriented marketing that can be successfully monetized. A close interaction between customers and the brand makes the company data-rich. If the business leverages this valuable data and derives actionable insights from it, it will lead to the discovery of various new business opportunities.
Customer-oriented marketing makes customers feel smart and in control. This drives sales as customers are less hesitant to buy from brands that give them a positive vibe. After all, the mantra for a successful business has always been that ‘the customer is king.’