The New Era of Marketing
The time has come to go for a thorough appraisal of the transactional marketing which traditionally tilted away from nurturing business relationships towards maximizing the efficiency and volume of sales through coupons, discounts, gala events etc. In the changing scenario and in the throes of the pandemic, the premium needs to be put on relationship building measures so as to carve out a niche for customer retention. Such thrust will hitchhike on a body of measures such as reprioritizing product roadmap, examining safety measures in view of the overwhelming health concerns, strengthening customer relationship through informative and educational communication and building a robust platform for customer interaction rather than mindless spending on advertisement.
Adapting marketing communication in response to changed user behavior could redefine customer segment, repurpose customer expectations and redraw competitive boundaries. More it is imbued with values, the merrier. Technology, online interaction and trust surplus must merge to ensure a value flow from the headwaters to the estuary. The strategies may be premised on what Shakespeare told in Hamlet – “Give every man thy ear, but few thy voice”. The voice is in listening, in building trust and in changing customer relationship dynamics without much fanfare.
Nivea, the skin care products company, may be taken as a case in point. In the new millennium Nivea did not restrict itself to wooing young customers; but took a bold step to reach out to mature women segment. The launch of Nivea Vital was a real shot in the arm in which mature women were assured of a surer stay. This was due to a carefully strategized market research which looked beyond the boundary of core group. Therefore, the marketing today may aim at eunoia of the product seller towards the product seeker so as to bridge the trust deficit, rather than the Catherine wheel of glitz and gizmo.
Taraswi Rout
PGPM Co’ 2022