Carnot Sylvestre, MS
Consumers take control of relationship with businesses
There has been an increasing shift within the past 10 years in the way consumers view their relationships with businesses. No longer willing to submit themselves to the whims and caprices of companies when they are not pleased with a product or how poorly they are being treated, consumers are resorting to documenting their complaints and sharing them over the internet.
The digital era has created an “Internet Culture”
The pervasive and instant nature of the internet makes it an ideal medium for consumers to make their voices heard and let companies know that they are no longer willing to be taken for granted and that their loyalty must be earned and cherished. Recent online consumer campaigns against Bank of America, JetBlue, Google, amongst others, had negative effects on the bottom line and proved to be real PR nightmares for those companies.
A consumer’s posted complaint can go “Viral” in seconds
Consumers are using a variety of tools such as YouTube, blogs, emails, Twitter, Facebook, chat rooms, user forums, etc. to share their complaints with other internet or mobile device users. According to InformiTV, 13 hours of videos are uploaded by private individuals to YouTube every minute. A search on YouTube will reveal tens of thousands of video complaints. Technorati states that there are over 113 million blogs on the internet. A happy customer tells 5 friends, an unhappy customer can tell 100s or 1000s with the strike of a key.
Economic climate, competitive marketplace affect how consumers think
These days, consumers pay real attention on how they spend their money. They want to be equal partners in the consumer-vendor relationship. They not only want real value for their money, they also want to feel appreciated by companies whose products and services they purchase. Consumers are aware of the competitive nature of the marketplace; they know they have choices; this empowers them to demand quality products or services at attractive prices from vendors who are also expected to work hard to earn their loyalty.
IMPLICATIONS AND RECOMMENDATIONS FOR MARKETERS AND ADVERTISERS
Consumer-centric Positioning. Marketers and advertisers must understand that it is not enough to base a marketing strategy on psychographics or demographics analysis; their positioning must truly be consumer-centric. Their paramount objective must always be to stay close and be responsive to consumers, and endeavor to meet or exceed their expectations.
Always deliver on promises made to consumers. Account planners should view this shift in consumer’s attitude as an opportunity for marketers and advertisers to better align their products and services with the unique needs of each consumer group. They must advocate for constant communication with consumers to get their feedback. They must represent to marketers and advertisers that consumers will not buy products only because of their quality and prices; they also expect enjoyable and memorable experiences before, during and after a purchase.
Reputation Management should be proactive and daily routine. Marketers and advertisers should always monitor and quickly respond to what is being said about them online. They should be aware of all social media activities around their brands. They have to find creative ways to interact with consumers on or offline. They should promptly recognize, address and apologize for any problem. They must deliver a better experience to consumers next time.
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