In the current marketing landscape, which is witnessing an unprecedented crisis for brands and marketers, it is difficult to even get the confidence of the customers, let alone make them fall for the brand. However, there’s a way around it that brands can use to become the brand that their customers would love.
A research carried out by Energy PR over 100 marketing leaders revealed that contrary to popular belief, being unique isn’t crucial when it comes to achieving greatness. Despite the massive success of popular tech giants such as Apple and Tesla, only 17 percent of marketers believe being original is important. Furthermore, only 11 percent of believing a brand’s greatness is identified by its level. Instead, most of the CMOs make a strong case that trust (60 percent) and how a brand makes its customers feel (58 percent) are an essential part that enables brands to achieve greatness. According to them, these factors even outperform the popular and practical considerations such as customer support (34 percent) and value for money (33 percent) to achieve greatness.
But even greatness cannot guarantee that a tech brand will be love as per Brand Love report. The report states for a brand to be loved, a significant level of intimacy is required. Nearly 50 percent of all the marketing leaders agree that to be a loved brand, it needs to align itself with the customer’s value and must play a critical role in their day-to-day activities. Interestingly, a third of all the leaders went beyond and commented that brands need to be closely aligned with their customer’s identities.
Read More: Leveraging AI to enhance Customer Experience and Engagement
To get around the customers’ frequent changes in preferences, tech brands must emphasize on a few points as per the Brand Love report. First, enterprise brands need to stop making mistakes while considering loyalty. Since even average customers are willing to tolerate a couple of mistakes on average, even from an ordinary brand, it doesn’t provide an excuse to deliver inferior customer service. If so, such customers would abandon the product in the long run and would less likely to turn into full-time ones.
Brands shouldn’t overestimate the power of recommendation and should rethink word of mouth as well. This is because customers who still love a brand are still not likely to recommend it to their peers, while the ones who do not will happily recommend it to their fellows.
Read More: Impact of consumer insights on business decisions making
The most common mistakes made by brands on their journey to achieve greatness and becoming the most loved brand among their customers centers around not giving taking steps to how their customers feel. They are guilty of focusing their attention on new customers while forgetting the current ones. Brands are reported to be inconsistent with the messaging and delivering the required content that their customers demand. The report, which was conducted by Louise Findlay-Wilson, managing director of Energy PR, reflects on it and states, “As our research shows, a consumer may tolerate a brand they love messing up, but they won’t tolerate it neglecting them in favor of new customers. That’s a massive betrayal of that all-important trust. That’s why great communications remain key.”
In this constantly evolving marketing landscape, neglecting even a single customer can have a drastic impact on a brand’s already struggling growth. By focusing on the key aspects of the above study, brands can significantly increase their chances of achieving greatness and being the brand that their customers adore and love.
