With increased competition in the business environment, focusing on the needs of your customers is the best way to have an edge over others.
One way to do this is to plan a marketing strategy that is geared to reach those who would be using your service or product.
Hence, the present need for every business is a ‘customer-driven marketing strategy!
But how can you design a winning marketing strategy for your customers?
A winning marketing strategy for customers is one that caters to the wants and needs of the target market and at the same time helps to achieve the organizational goals.
For a sustainable marketing strategy, it is essential to incorporate some key elements. Additionally, it must detail ways to attract new customers, retain existing clients, and help your business gain additional market share.
So, read this post to know about the important key elements of a customer-driven marketing strategy!
Key Elements for Customer-Driven Marketing Strategy
Targeting the Niche Market
Your business can acquire maximum market share only when your marketing strategy targets the niche market segment. With marketing research techniques, you can identify the demographic characteristics of your customers, like occupation, gender, income level, and age.
Having precise information about your customer base would help you to develop a marketing strategy that targets the niche market segment. Eventually, it would save your time and money and help you reach easily the potential prospects.
Catering Needs of Customers
To design a marketing strategy for customers means meeting their preferences and needs to the maximum level. It is of utmost importance to let customers know how your product or service would be useful and beneficial to them.
For example, if your initial market research expert reveals that your clients are highly interested to receive service at par then you can design a strategy that offers them the same. This could be extended service hours, offers, discounts, or even free home deliveries.
Building Customer Loyalty
Your marketing strategy must aim to build customer loyalty, which is extremely vital for referral business and repeat sales. Make sure that your marketing strategy incorporate-elements that always interest the customers.
Such elements can be in the form of reward programs, discount offers, or point method that encourages customers to buy products from your business only.
A great example of this is the point system. According to this system, customers receive certain points each time they purchase a product or hire a service.
Once the total points are accumulated then the company offers discounts to the customers on their services or products.
Making Wise Use of Feedback from Customers
Customer feedback plays a pivotal role in determining your customer-driven marketing strategy. Selling the product is not enough to survive in this competitive market. Equally vital is to cross-check how your customers feel about your offerings and the best way to know about this is through their feedback or suggestions.
The suggestions and feedback from your clients can help you make the necessary improvements in your offerings.
As a result, you would continue to supply a product that is able to meet efficiently the needs and wants of your customers.
This can be known from an example, where the number of customers visiting the store reduced drastically.
Through feedback and suggestions, it was known that this is because of the low cleanliness level at the store. When the store improved its cleanliness then again it helped them to achieve a higher number of visitors.
In another example, the customers wanted a better and streamlined refund policy. Again the necessary changes were made after considering the feedback.
Asking for feedback and suggestions from customers also shows that you are willing to serve them a better experience.
Finally, you can include general referrals as an integral part of your customer-driven marketing strategy.
Besides offering your customers incomparable services, do encourage them to spread the positive experience with others. This is the word-of-mouth technique that can help you gain referrals for new customers for your business.
Just include a referral program in your strategy, which would reward existing customers for sending new clients your way. The referral program can be in the form of free merchandise or discount offers.
Furthermore, you can even conduct a contest or perform a lottery system to see which customer has sent you the most referrals in a specific duration. Including such practices in your business would help you enrich the overall customer serving experience.
Customers have a dynamic nature and they are greatly influenced by the changing market trends. Besides outlining a customer-driven marketing strategy based on such elements, the only way to survive and succeed in this competitive arena is to keep pace with the evolving needs of your clients.
Most importantly, if you are still not able to make up through your personal efforts then it is always wise to consult industry experts.
Sunny Chawla is a Marketing Manager at AIS Technolabs. Web design and Development Company, helping global businesses to grow in the online market. He would love to share thoughts on Content Marketing Agency, Digital Marketing, etc.