How to Delight your customers and get your Brand to stand out in a recession and cost of living crisis
If you want to get your brand to stand out and inspire loyalty in a recession and cost of living crisis, you need to deliver brand value.
At Brand Dynamics, we can help you deliver brand value. We can help you understand your customer needs. Using our ‘Breakthrough’ process, we obtain valuable insights into customer behaviour. We find out from your customers what it is they are looking for from your brand, what is good or not-so-good about your brand, and what it is you need to do to make your brand stand out from the competition and delight your customers. Action Speaks louder than words.
How to deliver Brand Value?
- Understand Customer Needs
Do you know what your customers are looking for from your brand? How do your customers engage with your brand? On what platforms? Have you mapped out your customer personas? (have you segmented your customers into different and detailed customer profiles?). Which of your brand values are of most importance to your customers? What are your competitors doing well? How does your brand rate against its competitors?
Marketers need to invest in in-depth consumer research to uncover unmet consumer needs and concerns in terms of product and service quality, innovation, value and customer experience. At Brand Dynamics, we believe that Understanding customer needs and addressing their concerns is crucial to delivering brand value and delighting your customers.
2. Personalise Customer Experience
The more you know about your customers, the easier it is to reach them. If you understand where they are coming from, their purchasing behaviour and what they need from your brand throughout their “buyer journey”, you can personalise their experience by targeting them with effective content, going to where they are browsing and shopping in order to reach them where they are and deliver relevant messages. (For example, it is a good idea to encourage your customers to avail of your “special” offers online, by revealing the promotional code both when they land on your website and again at the checkout). Personalising messages to your most valuable consumers at the point of purchase is key to delivering brand value.
3. Don’t add to Digital Fatigue
Many consumers are inundated with digital communications (recently increasing exponentially due to remote working, studying online etc.,), so with the increasing battle for consumer attention online, you need to engage with your customers in unique ways encouraging them to “tune in” rather than become more digital background noise, from which your customers tune out. (Some positive and effective samples include; One health insurance company offers its customers free advice regarding their diets, free access to webinars on wellness and particular health issues, free health checks, etc., all free and relevant to members). Another is a pension company looking for feedback from their customers, offering a chance to “win a competition for a summer holiday” as a reward for their feedback!)
Identifying relevant influencers who can represent your brand value and who connect with your consumers in a meaningful way is also important in delivering brand value. (Note: the biggest influencer may not be as suitable as a specific micro-influencer!)
4. Only Extraordinary Customer Experience will do
How customers experience your brand value is formed by how they interact with your brand pre, and post-purchase. How do you look after your customers post-purchase? Customer service and after-sales support is vital. If existing customers are left “on hold” for 40 minutes to get an answer to a query on their insurance policy, (after they have already made a purchase!), this obviously leaves a very poor impression. And when the next “renewal” comes around…guess what? Your customers will shop around. And what about the customers who find out that “new customers” are being offered a 50% discount while existing customers pay the full price? Maybe they should shop around too? And take the long-established brand, “Levis”, who deliver on their “online” delivery promise to the delight of their customers, maybe that is why thebLevis brand is still strong all these years later!
Retaining existing customers involves an investment in providing best-in-class customer service. Many brands struggling with increased number of calls to call centres blamed “the pandemic” and now blame “the recession” for poor customer service but customers no longer buy such excuses. As we come out of the pandemic and enter a recession and cost of living crisis, we need to demonstrate brand value so only Extraordinary customer experience will do.
5. Don’t let your focus slip on retaining existing customers.
We all know it is much more expensive to recruit a new customer than keep an existing customer so don’t let your focus slip on retaining existing customers. In order to keep your existing customers and deliver brand value, you need to:
- Focus on promotions that encourage customer and brand loyalty (e.g., loyalty programmes that offer real value, e.g., AA membership offers discounts on tyres, car hire and 3cents off a litre of fuel at Circle K etc.). Partnering with compatible brands in offering your customers ‘joint promotions’ is a good way to drive brand loyalty
- Focus on brand value and return on investment – No time for wastage! Optimise your media strategy so that it focuses tightly on your target market (and most valuable customer personas) and offers high returns in terms of brand value and sales results
- Measure very closely which media channels and platforms are working to deliver results in terms of brand value so that you get the best return on investment
- Provide excellent customer experience both pre, and post-purchase. Consider offering Free trials of new products to existing customers: e.g., Virgin offer free trial of extra channels for 6 months
So, in order to delight your customers, deliver brand value.
Consumers are feeling the squeeze (i.e., the tug-of-war between consumers’ desire to buy what they want, and the need to make concessions based on the higher prices they have to pay). Don’t allow your customers to postpone a purchase or worse still, treat your brand as expendable, unnecessary or unjustifiable. Brand owners need a strategy to face rising costs, thinner margins, price-sensitive shoppers who are buying less and less often. This strategy to remain competitive is to Deliver Brand Value and Delight Customers.
At Brand Dynamics, we can help you gain insights into your customers’ needs. We believe that understanding customer needs and addressing their concerns is crucial to delivering brand value and delighting your customers.
Be creative, Be brave, Be bold!
Does your brand delight or disappoint?