Building Customer Engagement
Thirty years ago, marketing your product or service was simple. Marketing professionals "pushed" messages to their target market en mass through channels such as television, radio, magazines and outdoor. This type of mass marketing depended upon the Four P's: Product, Price, Place, and Promotion. Marketers would balance the Four P's guiding potential customers through a traditional response flow of Awareness, Interest, Desire, and Action.
Back then, marketers knew exactly how, when, and where their message was delivered. They knew the demographics and the size of their audience and purchased advertising space based on cost-per-impression measurements. But what marketers didn't know is who saw their ad or what consumers did after viewing the message.
Within the last ten years, the marketing landscape has undergone a paradigm shift. A McKinsey study conducted in the mid-nineties, found that only five percent of consumers trusted what they saw in advertising. As a result, people started to form opinions about products and services through word-of-mouth. Technology tipped the scales in favor of the consumer by empowering them with product knowledge through price comparisons, product reviews, instant chat, and messaging. Control over a brand's message was mostly lost and was suddenly in the hands of millions of people.
Today, consumers are watching videos, listening to podcasts, sharing photos, creating social networks, subscribing to RSS feeds, and taking their media with them on mobile devices. They shop when they want, how they want, and where they want. They personalize everything from tennis shoes and savings accounts to the cars that they drive. With brands in the hands of consumers, organizations are being forced to change the way they think and market their products.
With the advent of Web analytics, marketers began to learn who visited their website, where they came from, how long they stayed, and what pages interested them the most. Marketers became Web savvy in order to read and measure trends, pick key segments, and position their marketing efforts. This information allowed marketers to creating important, respectful, trust-based relationships with their customers.
Enter consumer centric marketing. Consumer centric marketing places the consumer in the center of your marketing efforts. Gone are the days when marketing revolved around your product or service. Today's marketer must utilize technology in order to engage consumers and build lasting relationships. Success of consumer centric marketing depends on balancing the Four R's: REVEAL your most valuable visitors, REWARD their actions, RESPECT their time, and RETAIN their interest in order to build brand trust and loyalty.
Marketers today use Web analytics to track the performance of their online and offline campaigns as well as use results to measure consumer engagement, behaviors, and habits. With this level of insight, marketers can gain actionable marketing intelligence and can begin to build long-lasting, meaningful relationships with their customers.