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Changing rules in Consumer Marketing
| 2010 brings new promise for consumer marketers after a long bout of downswing. Even with variables like high unemployment rates, rising mortgage payments and credit card issues, consumer markets is expected to swing positively this year. |
| The rules of marketing have now changed dramatically given the turn of events in the consumer landscape. Earlier, we could get away with just talking to the customer; it is now about engaging and interacting with them, their peer group, to understanding their unique needs. |
| Thanks to proliferation of social media, consumers have unprecedented access to information and are constantly involved in building a brand story. Marketers continue to try and entice them with bigger and better advertising campaigns but consumers are choosing to completely shut out those ads. |
| Forrester recently called out integrated marketing as "a good thing that rarely happens." |
| With consumers now expressing themselves openly in public on forums like micro communities and social networks, B2C marketing has moved from being product centric to consumer centric. With today’s consumer exerting a greater influence on the brand story than the CMO, the new age marketing must quickly adapt to the changing behavior and be proactive rather than reactive to consumer needs. |
| Some trends that a consumer marketer should watch out for in the coming months – |
- Brand consistency in every consumer interaction
- Acceptance of consumers response in social medium as a part of the brand story and finding ways to stitch it together coherently with the overall marketing message
- Engage the customer in a dialogue rather than throw expensive ad campaigns at them
- Every interaction counts. With the advent of social media, almost all your employee on social media is a potential brand ambassador. Your consumer can (and will) choose to interact with them. It is essential that you set up the guidelines well before venturing into the social arena.
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| The diagram below (Source: Forrester Research 2009) illustrates how consumer marketing has moved towards being more consumer centric |
| This year is going to be very exciting both from consumers and marketers perspective. If you would like to understand more about how social media interaction will fit into your overall corporate marketing strategy, call or contact us. Our marketing advisors will be more than happy to schedule a working session with you and your team. |
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