B2B BRAND - THE MARKETING SUPPLEMENT
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
THE MARKETING B2B BRAND LOYALTY IN 2020 SUPPLEMENT JANUARY TO MARCH 2020 PHOTO BY ZOHRE NEMATI B2B BRAND LOYALTY IN 2020 The Marketing Supplement www.awmc.co.uk 1
FIRSTLY B2B BRAND LOYALTY IN 2020 THANK YOU “It’s always a proud moment to see our brand on home grown content. A lot of hard work, creativity, passion and commitment goes into everything we do, and this new supplement is an example of that work. I hope you enjoy this content as much as we enjoyed making it for you.” Chris Solis - Executive Director, Alexandra Wren Marketing Consultants Credit to unsplash.com and the artists who share their amazing work on this platform. It’s a privilege to represent their work and name within our content. All the photography featured in this supplement can be found by the artists name, on unsplash.com. The Marketing Supplement www.awmc.co.uk 1
B2B BRAND LOYALTY IN 2020 Thank you for downloading the first issue of The Marketing Supplement by Alexandra Wren. In this quarters release, we open the subject of B2B Customer Brand Loyalty in 2020, looking at communication, brand inclusion and customer insights, and how they impact customer brand retention in today’s business environment. PHOTO BY ZOHRE NEMATI “Communication, brand inclusion and customer insights.” The Marketing Supplement www.awmc.co.uk 2
“Ultimately, the objective is to create a close bond with the customer, built on trust and communication throughout.” PHOTO BY ALI MORSHEDLOU
B2B BRAND LOYALTY IN 2020 CONTENT INTRODUCTION 5 MORE THAN JUST A TRANSACTION 7 CUSTOMER ENGAGEMENT AND INCLUSION 9 UNDERSTANDING CURRENT AND FUTURE CUSTOMER 11 NEEDS SUMMARY 13 ABOUT ALEXANDRA WREN 15 The Marketing Supplement www.awmc.co.uk 4
B2B BRAND LOYALTY IN 2020 INTRODUCTION In 1995, Tesco launched the Clubcard points scheme and this year, it celebrates its 25th anniversary. The Clubcard is one of Britain’s most successful long-term customer loyalty schemes, but customer retention didn’t start with the Tesco Clubcard. Brands have been fighting the eternal battle for customer loyalty for years, using everything from points, discount vouchers and money-back schemes to encourage buyers to pledge their allegiance and stay faithful to the logo. As consumer, entertainment and retail brands continue the fight on the front line with the very fickle foe that is the customer, how are B2B brands handling this same challenge? And what are the core tactics to securing the crucial advantage of brand loyalty in the business world? PHOTO BY RAZVAN CHISU The Marketing Supplement www.awmc.co.uk 5
B2B BRAND LOYALTY IN 2020 “Gone are the days where a sale takes place and the customer is then left to use the product.” The Marketing Supplement www.awmc.co.uk PHOTO BY RYAN TANG 6
B2B BRAND LOYALTY IN 2020 PHOTO BY TIMON STUDLER MORE THAN JUST A TRANSACTION One thing is for certain, the way we invest in products, solutions and services in the modern business world are no longer driven by price point alone. In fact, this hasn’t been the case for a very long time. Gone are the days where a sale takes place and the customer is then left to use the product. So, what’s changed? The growth of the Internet has completely altered the landscape of the true voice of the customer. More recently, the evolution of B2B comparison sites and business review portals has shifted customer reviews from the consumer environment to its business counterpart. This has essentially opened up the door for people to get behind the shiny websites and smart-talking sales teams, and really get to grips with what the real customer experience is like before they make an investment. The Marketing Supplement www.awmc.co.uk 7
B2B BRAND LOYALTY IN 2020 To prevent business reputations being publicly dropped from a great height, many companies now invest in carefully orchestrated customer marketing programs, using personalised communications to maintain easy access to updates, product information, support information, development roadmaps, help desk options and more. To improve this further, seamless end-to-end brand experiences, from the first engagement to post-contract aftercare, are helping to secure early buying decisions for businesses willing to go the extra mile to remain competitive. Ultimately, the objective is to create a close bond with the customer, built on trust and communication throughout. This sets the foundations for the future strength of the brand relationship, so that if anything should go wrong at any point, the customer should feel confident that the brand is in control and that they are considered a priority. If people feel connected with the brand, even in difficult circumstances, they are more likely to stay loyal. “The growth of the Internet has completely altered the landscape of the true voice of the customer.” PHOTO BY JOHAN DE JAGER The Marketing Supplement www.awmc.co.uk 8
B2B BRAND LOYALTY IN 2020 CUSTOMER ENGAGEMENT AND INCLUSION The expectations of buying business products and services is now closer to the consumer experience than ever before. The customer expects quick and seamless communications, easy access to support services, information that helps them get up and running quickly, and to feel like they have a voice when they want to express their desire for improvements or to be involved in future developments. In short, the business customer of today is more engaged, more informed and wants a connection beyond the product and service they’re purchasing. They want to feel like they are part of the brand, to be a product champion and to be able to share these experiences with peers and fellow users of the brands they have invested in. But if this experience is not forthcoming, the customer is likely to get frustrated quickly, feel isolated, shy away from progression and eventually switch off, dropping away from the brand and any future loyalty. PHOTO BY BENJAMIN SOW The Marketing Supplement www.awmc.co.uk 9
B2B BRAND LOYALTY IN 2020 “Customers One of the best ways to engage customers in a brand is through social media marketing. Social media by nature is visual, responsive and has a ready-made of brands who community of people waiting to share content. And unlike other forms of communication such as email, market in this social media is a great way to stay connected with customers without the fear of creating frustration through over-communicating. way feel part of But most importantly, social media content can be consumed in the user’s own time, at their own pace a cutting-edge, and through their own choice of channel. So, a business that regularly drives engaging content into social media demonstrates brand creativity, modern contemporary marketing and a passion for what they do… which is everything the new-age business customer wants. product or Customers of brands who market in this way feel part of a cutting-edge, contemporary product or service. service.” This not only keeps them engaged but encourages them to distribute content, share positive messages and feel strong brand loyalty. Carefully planned, this channel can stimulate feedback activities and allow the customer to talk directly to the business, which generates further feelings of inclusivity. The Marketing Supplement www.awmc.co.uk PHOTO BY LINKEDIN SALES NAVIGATOR 10
UNDERSTANDING B2B BRAND LOYALTY IN 2020 CURRENT AND FUTURE CUSTOMER NEEDS No matter how great a product or service is, it must evolve and change over time to meet the ever- growing needs of its customers. Typically, if this is not considered in the evolution of the business, customer lifetime value reduces, competitors gain the advantage as the brand becomes stagnant, and customers are lost. There are lots of reasons why products and services become outdated. But one very important and overlooked cause is lack of customer feedback and having the right means of channelling that feedback back into the business. PHOTO BY CHARLES The Marketing Supplement www.awmc.co.uk 11
Outside of account management, few businesses have the mechanism B2Bfor listening BRAND to customers’ LOYALTY IN 2020 current and future requirements, other than verbal insights gained from conversations and meetings. This leads to product and service development becoming more bespoke to individual customers, impacting general day-to-day business productivity, straining support mechanisms, and complicating product and service offerings moving forward. Genuinely valuable customer feedback is like gold dust and collecting this precious data can’t be done through a monotonous cycle of dull surveys and unwanted scripted phone calls. It requires more creative, thoughtful and spontaneous forms of engagement. But staying ahead of customers’ wants and needs and ensuring their loyalty doesn’t have to be a complicated process. Marketing mechanisms for collecting great customer insights include gamification. For example, a well-devised competition using a simple online game format can be fun, deliver useful insights and enhance brand reputation. Carefully crafted customer portals that offer product development programs with incentivised reward schemes also stimulate insights, while making customers feel like they have input into the development of the future of the services they receive. However, not all customer feedback has to be online. Digital data collection is great for harvesting constructed answers and scales, but in the age of GDPR there are restrictions on what information can be gathered. Capturing opinionated feedback digitally is also extremely time-consuming, can be hard to categorise, and critical points of emphasis or context can easily be lost. So, getting customers into live workshops, seeing their body language and really understanding the passion behind the reasons why they use products and services is just as important, if not more so, than structured insights. Additionally, approaching data collection in this way allows the customer to see the people behind the brand and that businesses in 2020 are still human. “Genuinely valuable customer feedback is like gold dust.” The Marketing Supplement www.awmc.co.uk 12 PHOTO BY CHARLES FORERUNNER
“In order to increase B2B BRAND LOYALTY IN 2020 retention and secure customer loyalty, businesses must first recognise that the brand experience doesn’t start or end with a transaction.” PHOTO BY LINKEDIN SALES NAVIGATOR IN SUMMARY... In 2020, customer loyalty for B2B brands is no longer a question of how competitive the price point is. It’s a question of trust, reliability, stability, inclusion and an investment in a long-term business partner that listens, understands the needs of its customers and will evolve as they evolve. In order to increase retention and secure customer loyalty, businesses must first recognise that the brand experience doesn’t start or end with a transaction, it begins at the very first touch point and continues beyond. Setting the right brand experience early on in the journey and carrying that effort and dedication throughout the entire life cycle of a customer is where the roots of loyalty will grow. The Marketing Supplement www.awmc.co.uk 13
B2B BRAND LOYALTY IN 2020 As well as committing financially, business customers want to invest emotionally in the brands they choose. They want to be submerged in a product or service they love using and share that experience with their peers and colleagues with rich content and commentary. Businesses that market across channels that enable this to happen will provide a platform for their customers to become true brand advocates and express their satisfaction with their choice and investment. In any business, the ongoing development of products and services to meet modern requirements is imperative to its future growth and sustainability. However, understanding the road map and where this development should go from a customer retention perspective is even more critical. Developing channels for facilitating customer data and feedback - be that online or face-to-face - will not only ensure that the product and service development is in line with what customers want, but by inclusion, will create a sense of ownership, a sense of loyalty and increase the customer life span. PHOTO BY TIMOTHY BARLIN “As well as committing financially, business customers want to invest emotionally in the brands they choose. ” PHOTO BY AMY HIRSCHI The Marketing Supplement www.awmc.co.uk 14
B2B BRAND LOYALTY IN 2020 WHO IS ALEXANDRA WREN? Alexandra Wren was founded on years of strategic and creative marketing, working on the ground within global and small businesses throughout various industries including finance, technology, engineering, Saas, Paas, retail and leisure. Our experience across different business models and markets has allowed us to fully understand the day to day challenges faced by marketing leaders, whether that be a global director driving a multi-regional strategy to a one man marketing team striving to get a brand off the ground. Our philosophy is built on objective driven, consultancy led marketing. Every company is different, every marketing leader has different ideas, wants, needs, expectations, goals and objectives to meet. So, before we even consider strategy, tactics or delivery, we identify the business needs first to determine the next steps and how we can help. PHOTO BY YOU X VENTURES HOW TO CONTACT US EMAIL: INFO@AWMC.CO.UK WEBSITE: WWW.AWMC.CO.UK YOU CAN ALSO FIND US ON LINKEDIN. The Marketing Supplement www.awmc.co.uk 15
B2B BRAND LOYALTY IN 2020 MARKETING CONSULTANTS AND SERVICES “We are creators, we are innovators, we are modern day marketing architects, helping businesses to design and build their future.” The Marketing Supplement www.awmc.co.uk PHOTO BY MICHAEL 16 DAM
PHOTO BY JAMES ZWADLO THE MARKETING SUPPLEMENT JANUARY TO MARCH 2020 WWW.AWMC.CO.UK
You can also read