Let’s try and get past the various buzzwords and overly-repeated phrases.
When marketing companies talk about your brand, declaring that: you must evolve or go bust, you must develop or shrink, I imagine two conflicting emotions collide: worry and scepticism. On the one hand you know that being informed about trends is a useful part of business growth and you worry about missing something important. On the other hand you know that your business has its own unique qualities, challenges, peculiarities, strengths and failings. You know that there is no such thing as a simple fix-all, sat waiting for your attention, hence that sceptical ‘one raised eyebrow’. So here is what we think really counts and what you might consider about your brand development in Feb 2018. There is a change happening and it might feel counter-intuitive at first. Most businesses would, typically, think that to be focused on customer happiness was a pretty good aspiration. Would you? Happy customer, repeat business, satisfied client, contract renewal. This is a service company mentality and great service is a wonderful starting point for businesses but times have changed and great service only gets you so far. Believe it or not if you just focus on service your business could be vulnerable. The new breeds of successful companies act, instead, like product companies. What’s the difference? Product companies innovate. They refresh and improve whatever it is they are selling, both quickly and effectively. And with every new refreshment or improvement they offer better value. This Silicon Valley approach to customer retention, loyalty and growth is a trend which shows no sign of reducing – quite the reverse. Adopting a Product Company mentality into your culture will strengthen your brand. For your brand to enjoy cultural relevance, you will need to embrace the openness of User-Generated content. With many companies that might simply be limited to customer reviews but even so, your ability to connect and create fidelity between what you want to give and what your customers get, will need professional attention. We believe that a powerful starting point will be the acceptance that Product Companies will lead the way in the next few years. Product companies innovate. They refresh and improve whatever it is they are selling, both quickly and effectively. And with every new refreshment or improvement they offer better value. People continue to love culture more than products but the line between the two is blurring and will continue to do so. This isn’t just a call for more corporate social responsibility. There is a more authentic need for businesses to think deeply about their values and how, where and when to communicate. All meaningful relationships include discovering what makes each other tick. They involve both giving and taking. Big Data continues to personalise the marketing experience but intrusion is the drop under the high wire. Intrusion is the threat when a business wants to understand its customers. The art of listening, improving and adding value is the pole in the Tightrope Walker’s hands. To balance effectively, brands will need to make improvements which feel personal to their customers and respectful to the cultures where they meet. Start Up business? Read our guide here:
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AuthorSambecketts Archives
May 2018
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