A Customer’s Mind in Dynamic Market Context
Customers are rational. They are also emotional beings. In every market environment – they tend to be selective in what type of brands to buy from. However, what do we to understand between a customer’s mind in dynamic market context? The reason we need to understand about this phenomenon is – they will determine how you are going to come up with a credible story for your audience.
First and foremost, we have to begin comprehending the jigsaw about the complexity of a customer’s mind. What do you think we are going to find out? Let’s take a look;
Their loyalty is unpredictable. Keep in mind customers have a tendency to shift from a brand once they realize it’s taking them for granted. Therefore, you need to adhere to the norm of offering consistent and exclusive experience across each stage or step of their buying journey. It’s important to keep rewarding their efforts to ensure ‘transactional repetition’.
They are skeptical. Customers are concerned with how a brand use their data. Remember Facebook Analytica data scandal? How you are going to handle their data is one thing, but how are you going to use their information to enhance their experience? The better the experience means more access to their information.
They are drawn to ‘novel brands’. Let’s face it if you are a god story teller you can attract more attention. Thus, to connect with a customer’s mind, your story must be authentic. Your purpose needs to rhyme to their expectations. So to speak, your product/service must have a tangible fulfillment in their lives.
Customers expect your brand to pick a side. A blunt truth often brands ignore to acknowledge. Today, we see a world where customers are picking sides with identities, interests, affiliations, beliefs and so many others. For instance, take a look at Coke Studio Africa. This is an international music platform hosting top musicians in Africa. Through it, Coca Cola seeks to bring together and celebrate the diversity of African music and talent.
Next stop, let’s have a look at the market context. A dynamic market in which a customer would often excel and build meaningful interaction.
An environment driven by agility in leadership. As a leader, you need to be equipped with skills and capabilities that will create new business models in conjunction with disruptive technology. To accommodate such creativity, you have to anticipate what customers will require in the future.
Establish data governance. As we saw earlier, data is a critical matter. Customers are more concerned on how it’s being used. Therefore, despite various security and privacy concerns – you must be in a position to establish rules or regulations that protect and enforce customer’s information. Here, impartiality on data usage is an unavoidable requirement.
An emotional environment. Enough has been said of treating customers as human beings. You have to set time and space to meet with your customers. Chat bots or other abstract objectives don’t guarantee you a good relationship. Reduce automated or artificial intelligent built-on service and take your people out there to shake hands.
Drive your brand’s purpose through your internal team. It is said, charity begins at home. And who knows better about your brand than your internal staff? Consider them as your family members. Empower them as your brand ambassadors. Their robustness will emphasis your identity and purpose to your customers.
There is substantial evidence that customer’s minds are dependent on the market dynamics, and of course the vice versa is true. This is the time for marketers and brands to be creative and bold. Luckily, the digital space offers an opportunity to learn customer behavior and come up with more relevant solutions.