Covid has shifted the market for ever. Old marketing is dead. Reverse marketing is the future, if you still want to be in business.
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. Flipkart is your role model.
B. Find a way, so customers look for your products. Customers must want your product at any cost. Owning your product should boost their ego.
This means making the buyer so enchanted by your brand that it is he who literally goes after what you have to sell.
This kind of result is not common as, you need to use the right strategies if you want to get there.
You need to guarantee an incredible experience, from the first moment, for those who get in touch with your company or your brand.
This excellence is the story, that will make the person think and will encourage them to seek you out again? And again.
This new concept of the future is called reverse marketing.
Reverse marketing is the concept of marketing, in which the customer seeks the firm rather than marketers seeking the customer.
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 set up hospitals, build toilets and create social awareness about relevant subjects.
But, not even once, have you said – Buy my product.
Some years back, during peak summer, my air-conditioner stopped working. As usual, customer care people did not respond. I called the local mechanic, who came, checked the machine and fixed it 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 in my mail. Well, I was blown. Since then, I have purchased six air-conditioners from him and recommended him to everybody I know.
Apple prides itself for making products with great design. Steve Jobs had said that he wanted to make the keys of his computers so appealing, that people would want to lick them. It is not surprising that people wait for even twelve hours for stores to open in the morning, whenever a new apple product is launched.
Dove has been trying to innovate for some time now and has released videos that appeal to the viewer’s emotion.
In the “portraits of real beauty” campaign, for example, the company shows women who describe themselves for a sketch.
Then, the specialist creates an image of the same woman, from the perception of someone close to her, after which the two drawings are compared.
The idea is to show that most women cannot see their own beauty and improve their self-esteem, not selling a specific product.
Standard Chartered Bank
Similarly, Standard Chartered Bank started the Mumbai Marathon, which has become the largest fund-raising platform in India. The image of the bank has transformed from a common commercial bank to a socially caring bank. Its business has improved as a result. Not even once did they advertise that they are a great bank to do business with.
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 too).
Green marketing is the new buzzword for today’s companies, as it creates a perception that the company is socially responsible.
Why are these companies doing these activities?
Customers increasingly distrust organizations. They want to associate with good,honest and caring companies.I have come across many young people ,who want to join companies like Tatas, even at a lower salary.
Lack of credibility and trust is 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. Trust makes buying decision easier.
Brand is trust.
Reverse marketing is the best way to make your customer a long term asset..
In other words, so enchanted he is by his brand that he is the one who runs after his business.
Reverse marketing is the future as this is the only guarantee against brand irrelevance and fatigue..
You also checked what are the advantages it can bring to your business, such as strengthening your brand.