In this episode, we discuss:
- Consumer behavior changes
- The importance of personalization
- Why marketers have to evolve with their customers
- How to drive innovation for consumer marketing
- What makes a great customer journey
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Consumer Behavior Changes
In recent years, we’ve seen game-changing changes in consumer behavior. In the first three months of the pandemic, digital penetration increased by about ten years. So, the number of people who are shopping online and are comfortable shopping online is far greater today than it was just two years ago.
“Things like buying online, pickup in-store, all of those sorts of new age technologies that drive better consumer experiences will become more and more important to the consumer”
Use Your Customer's Time Wisely
We only have twenty-four hours every day, most of which we dedicate to things like sleeping, work, personal hobbies, and so on. If you're in marketing, you have a small window of somebody's day to try and get their attention. So think of designing meaningful and relevant attention-grabbing moments.
“Somebody's attention is the most valuable currency they have, and the basis for that is time is the most finite resource any of us have”
Take That Risk
In digital marketing, you need to be willing to do something you've never done. Take risks and don't be fearful of what you don't know. Go out there and teach yourself things you don't know.
“If you want something you've never had, you need to be willing to do something you've never done”
The Power of Commitment and Integrity
Your business success depends on attracting great people and committing to the company's core values. Always strive to make a product to the best of your ability and take care of your customers.
“Build your product with integrity, stand behind it 100%, and success will follow”
Why Is Personalization Complex and How to Succeed at It?
Personalization complexity is determined by three challenges. One is strategy challenge, as organizations need to figure out how to make personalization meaningful to their customers and link it to their strategy. The second is organization challenge, and the third is technology challenge. A move towards personalization should be treated like any other transformation effort.
“Personalization can't be that pretty ribbon that you put on a virtual, physical package that gets delivered to customers, but it needs to be part of that package or part of the delivery”
What Makes a Great Customer Journey
The customer journey is at the center of all of everything that you do. Ensuring a great customer journey comes down to exploring and testing things out, being willing to be wrong, forgetting your assumptions, following the expertise of other departments or following what the data is telling you.
“You have to be willing to test things, be wrong, forget about your assumptions, follow the expertise of other departments and follow what the data is telling you”
Evolving With Your Customer
As a marketer, when thinking about how to structure your strategic marketing plans, focus on these 3 factors: Where to invest, how to invest, where to disrupt. These include everything from occasion, brand, package, price and channel to online brand presence and methods of getting your customers' attention. Also, you need to consider how to evolve digitally with your consumers.
“As you think about how to ensure your brand's legacy online, remember that now everything is digital, and, secondly, evolve with your consumers because if everything is digital now, then anything could be shoppable”
Driving Innovation for Consumer Marketing
When you think about innovation, it has to start with either an opportunity or a problem you can solve. During the process, look for digital tools that can help you leverage that opportunity or solve that problem. Everybody approaches innovation in different ways depending on their own skills and capabilities. One of the most effective approaches is to leverage your strengths to solve problems and drive innovation. Unfortunately, many people focus on improving their weaknesses instead of working on what they are good at.
“Innovation is a simple concept. It's just problem-solving. It's just how you, in creative ways, seize opportunities and solve the problems of your brand or organization”
Experiential Marketing in the Digital Era
Many experiential initiatives marketers employ focus on brands. However, Alo Yoga transcends their brand and concentrates on health and wellness. The goal is to guide and engage with people along their journeys, delivering value, and helping them develop. Community is at the center of what Alo Yoga stands for. Along with fashion partners, influencers, yogis, holistic wellness community leaders, athletes, and celebrities, the community embraces all types of individuals on a wellness journey.
“I believe your IRL experience should match your URL experience, whether you're shopping on com but then coming into the store, going to an event, and then coming on social, or you are with us in the Metaverse or buying your first NFT”
Equalizing the Marketing Game Through Digital
Digital is a crucial part of driving marketing and business initiatives. To do that effectively, engage with your fans, and use digital to serve and delight your customer better, whether it's through access or reach. There are dozens of technologies and digital platforms out there. Choose the one that works for you and helps your brand and company evolve and progress.
“Love your fans, engage with your fans. They will be your biggest advocates for your brand and product, so engage with them and see how you can partner with them to help your brand and company”
Why Direct Customer Feedback Works Wonders
Marketers search for the winning formula for getting more customers and driving business growth. One of the best ways for that is direct customer feedback. Digital channels allow you to speak to every customer and record that information so that you can take action on it.
“Having a direct customer relationship where they directly talk to us, that's never gonna be something that a third party can get in the middle of”
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