This is the time to invest in holding on to your customers
Forget investing in marketing, this is the time to invest in your customers. The cost of acquiring customers is growing everyday and we forget that existing customers will be aggressively sought after by competitors – old and new
The customer is truly the King and with ecommerce paving the way for many brands to reach consumers direct, the consumer has a choice like never before
Recession or no recession, companies that can hold on to their existing customers will be the winners
Look at what is happening all around. Mobile phone operators are suffering losses. Mutual funds are performing below par. Automobile sales are down like never before. The housing market is stagnant
Where can companies make a real difference?
By keeping the existing customers happy and loyal and making them keep coming back
What makes customers loyal?
Some may say that consumers are not loyal. That they are only price conscious and they go to whoever gives them the best deal. If such was the case, there would be no business for anyone who is not the cheapest!
Consumers can be segmented based on their value of service level. Based on how much they value service levels provided by the brand
For service conscious consumers, the choice of brand and decision to stay loyal would surely depend upon the service levels of the brand. And not only would they stay with the brand but would be great brand ambassadors too!
Here are four things that a brand manager needs to do especially in tough times:
Provide avenues for the consumer to interact with the brand, be it through a dedicated customer service hotline or through the web and through response management on social media
Resolve customer inquiries and issues on a timely basis. Large multi brand organizations should also have a single point of contact (SPOC) to deal with customer issues that need coordination inside the company
Build service consciousness within the organization and this can be done by having the right organization structure and running programs within the company to enhance the importance of customer service
Have the right customer service outsourcing partner to manage customer calls, emails, web submission and social media posts
If you are a brand or marketing manager at a FMCG (Fast moving consumer goods company) or work for a pharmaceutical company, an OTC drugs company or any company that has a large number of consumers you can have your consumer services cell managed by a professional company like Kankei.
Kankei is an established (in 1998) services company. Several large corporations outsource their consumer services function to Kankei.
To know more visit www.kankei.com