In the era of digitalization, new techniques have emerged in business to acquire and retain customers. In the space where the competition is huge it becomes difficult for organizations to get inside the heads of customers. It’s a bucketing task for new and old businesses to establish and sustain themselves because it’s all about customers these days. Primarily it’s difficult to understand the prospect’s mind and then plan a strategy to get inside it with the solutions to their problems as products and services. Here, comes the concept of experiential learning. To get into customer’s mind, marketers need to get into customer’s shoes first and understand the problems they are experiencing. Then only the business can grow by helping the customer.
The traditional approach of marketing communication where the brand is chosen by customer because it shouted the loudest is dying. This is the impact of traditional advertising which is bombarded on customers anywhere while they are watching news or their favourite TV programs. The new marketing strategy of content marketing is being used by companies to engage customers as a tactical approach.
Brands are realizing that to secure the lifetime value of their customers, it is important to retain them, have more brand loyal customers and that all can be achieved by giving them back through by being customer loyal. In the experiential marketing era, the focus is on giving target audiences a fabulous brand -relevant customer experience that adds value to their lives and becomes share of customer’s mind, heart and wallet. The effect of brand marketing is attained not because the brand shouted the loudest but because it gave the customer and unforgettable experience.
An understanding to back this thought is the way marketing analytics works in providing an uninterrupted customer experience while shopping online. I do not happen to watch TV regularly. And I believe so does the millennials today. This generation Y have their life stored in smartphones; from getting the news in the morning to socializing with friends at the night, from opting online education to discussing opinions online, from shopping electronics to furniture, from buying groceries to sourcing daily needs such as milk and vegetables, from buying clothes to expensive jewellery or entertain ourselves by listening to music, watching favourite programmes or movies and playing games, we all invest our majority time spending on smartphones. The dimensions of how we spend our day has changed immensely. All this has happened because of the seamless experience that is provided by companies online. Had I felt that investing time, energy and money online is a waste instead of convenience, I would have opted out.
Here, the key point to note is that I am not subjected to mass marketing advertisements; no brand is shouting to be noticed. It`s simply unison of 4c’s of social media i.e. connect, customize, communicate and cultivate supplemented by 4 cs of integrated marketing communication i.e. coherence, consistency, continuity and complementary.
Dr. Neha Jain,
Associate Professor- IIMP