Reviving Customer’s Love
In the current economic landscape businesses are making necessary cuts and prioritizing profit protection, unintentionally downplaying the customer relationship. Expectedly or not, customers have an eye for authenticity and are noticing a shift. It's not just about products in shopping carts; it's about how brands make people feel in the long run.
For instance, only 14% of customers believe their favorite tech brand genuinely prioritizes their best interests. This serves as a wake-up call for brands, fueled by global sentiments revealing customers feel undervalued:
What Can We Do About It?
How can brands show that they care and that they value their customers as more than just sources of revenue?
At Ammare, we believe the answer lies in renewing the focus on customer experience and the Four Ps of marketing:
Reflect
Price signals value; customers pay for perceived worth but are deterred by confusion or extremes.
Products solve problems and fulfill needs, meeting functional, emotional, and social aspects while being innovative, reliable, and sustainable.
Promotion engages customers through relevance, personalization, and authenticity, as well as informative, entertaining, and inspiring content.
Place, as a touchpoint, must offer convenience, accessibility, enjoyment, and consistency for a seamless and integrated experience.
Practice What You Preach
Review your pricing strategy for perceived value, fairness, and differentiation.
Simplify pricing, avoid confusing discounts, and prioritize building trust.
Assess your product strategy with a focus on customer needs, quality, and brand alignment.
Tailor promotions to customer preferences, avoiding spam, and maintaining authenticity.
Enhance the customer journey in your place strategy, minimizing friction and confusion for an improved overall experience.
And… Action!
How can your pricing strategy be simplified to convey perceived value, fairness, and differentiation while fostering trust?
In what specific ways can your promotion strategy be tailored to align with customer preferences, ensuring authenticity and avoiding practices that may be perceived as spam or misleading?
The Time Is Now!
It’s time to refocus on the essentials of great marketing. Let's strike a balance between value and sales volumes, ensuring that every decision aligns with the mission of building enduring connections with our community.
Schedule a conversation with Ammare’s team today, and let's craft a narrative where the bond between your brand and community stands the test of time.
Source of information: Accenture Life Trends 2024
