In today’s era, consumers are more demanding than ever before. To keep up customer expectations and to grasp their interest, brands are increasingly investing in several advertising channels. Advertising channels are the medium used by the company to advertise its products and to reach out to its customers. With the advent of the internet and technology, numerous advertising channels has grown to embellish traditional modes of advertisement. Marketer opts their marketing channels based on the budget set and which provides the most effective and efficient ad for the company.
Whether your budget is $100 or $100000, you want to get maximum out of each buck. Maximized ROI has always been the goal of the marketing campaign. For companies to survive in a modern business competitive run having an aggressive advertising tactic has become mandatory. The market is full of diverse marketing options that marketers can choose from, providing diversity in terms of affordability and competitiveness.
It’s well said that ‘’ Business has only two functions – Marketing and Innovation.’’ Organizations spend millions of dollars on marketing. But you will be amazed to know the fact that zero cost marketing channels incur the most Business. Let’s intensify the fact with a study which states that almost 92% of consumers will believe in recommendations form family, friends, or other advertising channels. Your Voice of a customer isn’t just feedback its also an important marketing channel for Business. Word of mouth is the feedback or review about your product’s features, usability, satisfaction.
A happy customer steers dozen new ones in your way. It’s the most credible and trustable form of marketing because every time the user reviews or recommends your product, he puts his/her reputation on the line and gains nothing except the appreciation from the listeners. Do you remember the last time when you purchased online and given a five-star rating and excellent review? Had a great dining experience at a restaurant and then posted on social media? Then is essentially called Word of mouth marketing (WOMM) or the Voice of the customer. It’s the organic way of marketing, which often utilizes the components of viral marketing and more natural channels. It’s a free form of marketing and promotions.
Courteous treatment will make a customer a walking advertisement. By James Cash Penney
Can you differentiate between a successful and unsuccessful business? The successful Business is the ones who understand your customer. They pay close attention to your audience. One of the biggest entrepreneurs said that ‘’ Get closer to your customer than ever. So close that you can tell them what they need before they realize it themselves.’’
Voice of Customer is the process of understanding customer needs by capturing feedbacks and requirements from customers in order to better anticipate and provide the best in class service and product.
- Improvising Service and Quality: Customers are the base of an enterprise. Customer satisfaction is efficacious, as those are the ones who utilize your services. Impeccable customer service assures that your customer is going to return. They will not only be returning but will also be referring your brand to your friends and families.
- Brand Management: Being a brand, you should have concise knowledge about how consumers interact, perceive, and understand your brand. You need to conduct constant check on your brand status, which assists you in maintaining good brand value while growing your market share.
- Product Development and Innovation: By keeping an ear on the ground and listening to customers’ needs, you can keep track of what customer needs and what they are willing to pay for the developments. Customer feedback lets you improvise your products and stay updated with future trends.
- Marketing Efficiency: Happy customers are the best form of marketing. If they are satisfied, they will definitely shout out, among others. Incorporating customers in every marketing effort can be the best form of marketing any business can do.
- Market Fit: Listening to what customers want will help you to draft a product with a totally new or latest feature in the market. A product which fits the market needs will surely boost up your sales.
- Customer Surveys: Customer surveys can be the greatest way of gathering customer feedback. Surveys let you gather quantitative and qualitative data. Surveys can be conducted in a number of ways, such as onsite surveys, direct interaction with customers.
- Online Reviews: Many consumers, before buying a product compares between competing brands and refers to online surveys on user reviews. A brand can gain or lose customers based on ratings and reviews.
- Feedback Forms: They are the simple forms available on websites, social media, or a printout in hotels or restaurants. This assists the firm in understanding customer needs and weaknesses.
- Chat Support: According to a recentstudy, it was found that nearly 44% of online users feel that chat support is the best feature of an e-commerce website. It’s the most convenient and effective mode for customers to interact with Business.
Your consumers should always be on top of your mind; you can’t assume what your consumer needs. To turn out to be a winner in a competitive market, you need to listen to what consumer wants, what they are saying about you, and then act fast.
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