Old marketing is dead.
Reverse marking is the future.
Is consumer loyalty dead ?
E-commerce in India has turned all marketing concepts on its head.
You have two options.
a. Get into discount war and pray that your money lasts, till this madness continues. Make sure, that you are able to get funding done by some global fund managers. Flipcart is your role model.
b. Find a way, so customers look for your products. This new concept is called reverse marketing.
Reverse marketing is the concept of marketing, in which the customer seeks the firm rather than marketers seeking the customer.
The most common method is to provide valuable information to your target customer,which she is looking for.
Depending on your product category,you can provide free information about health,beauty, how to make more money, how to find cheapest hotels etc.
As a company, you can make hospitals, build toilets, create social awareness about relevant subjects.
But, not even once,you have said that Buy my product.
Some years back, in peak summers, my air-conditioner stopped working. As usual , the customer care did not respond.
I called the local mechanic,who came, checked the machine and fixed the machine in less than a minute.
There was a small problem with the wiring.
When I offered him money, he refused.
Instead, he told me about the new technology in air-conditioners, and sent me articles on my mail.
Well, I was blown. Since than ,I have purchased six air-conditions from him and recommended him to everybody I know.
“Jaago re” by Tata Tea was launched in 2007, and it has helped the brand immensely due to its innovation, reach and impact.
It involved NGO’s, Colleges and offices to spread socially relevant messages like corruption.
Due to this outreach, the brand could fight the competitors like HUL and garner healhy market share.
Similarly, Standard Chartered bank started Mumbai Marathon, which has become the largest fund-raising platform in India.
The image of the bank has transformed to a socially caring bank.
The business has improved as a result.
Not even once they advertised, that they are a great bank to do business with.
Aviva India had come up with a series of batting video tutorials featuring Sachin Tendulkar! Sachin was caught in candid moments and different avatars giving lessons on Parenting, Cricket, coaching his master shots.
He taught batting styles like ‘Stance’ and ‘Straight Drive’ in YouTube video tutorials.
Accenture’s Path to Success campaign was a great way to find and engage potential talent in the industry.
The quiz-based format tested the aptitude of the users, while keeping them engaged in an interesting gameplay.
HSBC has become the first Carbon neutral bank. Coca Cola cares about the environment and believes in recycling the packaging( I must admit that they do great advertising also).
Green marketing is the new buzzword for today’s companies, as it creates a perception that the company is socialy responsible.
Customers increasingly distrust organizations.
That’s going to affect brands.
Unless, organizations engage with customers apart from regular marketing-it will be difficult for customers to develop trust.
Every buying decision takes place, after the initial trust level has been established.
Every brand needs to create touch points with their customers.
You need at least 6-20 touch points, before your customer starts trusting you.
Brand is trust.
Trust is “Awesomeness”. Period.