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Customer Relationships are more important than you think

January 28th, 2022
Highlights the importance of customer relationships

The best marketing doesn’t feel like marketing

Marketing is not always about trying to sell something, building and maintaining a strong customer relationship is even more important in the long run. When the customers have an excellent first experience with you, they are more likely to remember your brand and genuinely care for your business.

A Story

A friend of mine recently had day surgery, then went home. The next day he got a handwritten thank you/get well card signed by all the clinic’s staff. Although it was such a simple gesture, it had an unusually personal touch.

Another friend received a plant at her home a few months after he bought his house. “Hope you are enjoying your new home!” the handwritten note read, signed by his realtor.

No coupons, no upselling offers, no “we appreciate your referrals.”

Just gratitude, thoughtfulness, and a genuine human connection. These are fundamentals of delivering a brand promise and building strong customer relationships. Exceeding expectations, giving before asking, being consistent, and being genuine.

Once a brand has mastered these traits and cultivated a delightful brand experience for its customers, only then is it ready to spend money on advertising and demand generation.

Read more about the concept of Brand Positioning: Click here

You can’t fake authenticity

Some businesses implement CRM (customer relationship management) strategies selfishly. They only engage their customers directly in hopes to reel them back in the future and make more money off of them. Any attempts to give your customers an authentic human connection should come from a place of gratitude. Each and every customer is a catalyst that is helping your business grow, so it is only fair that they feel appreciated for giving you their business. You can always sell to someone once, take their money, and be happy with that; but the brands that actually care about their customer relationships will be the ones who continuously grow over time.

For more info on Customer Relationship Management, read this article: Click here

What is a PESTEL analysis?

January 28th, 2022
Pestel Analysis

When creating strategic marketing plans for our larger clients, we often include a PESTEL analysis to complement a SWOT analysis. Our PESTEL analysis audits the external macro-environmental factors that affect a company’s marketing plan.

Read more about our Marketing Strategy: Click here

What is a PESTEL analysis?

It’s an acronym (Political, Economic, Social, Technological, Environmental, Legal) for the factors beyond our control. It helps identify latent or future opportunities and threats that can be applied to SWOT.

What PESTEL factors may affect your supply and demand?

1. POLITICAL

-Political climate

-Tax policy

-Labor laws

-Environmental laws

-Trade restrictions

-Tariffs

2. ECONOMIC

-GDP/economic growth

-Exchange rates

-Inflation rate

-Interest rates

-Employment rate

If inflation rises, will profits be squeezed?

If interest rates rise, will the economy slow?

3. SOCIAL

-Cultural norms

-Health consciousness

-Population growth rate

-Age distribution

-Career attitudes

-Emphasis on safety

4. TECHNOLOGICAL

-Emerging & potential enablers/threats to your product

5. ENVIRONMENTAL

-Climate

-Pollution

-Natural resources

-Consumer

-Antitrust

-Employment

-Health & safety

 

This analysis helps create and adjust marketing strategy, objectives, investment plans, and resource preparation. Additionally, a PESTEL analysis gives your business or organization a strong basis for ethics and accountability. By understanding all of these different factors, you are able to develop a business plan that more closely aligns with the macro-environment. The world is a very dynamic place with a lot of these things changing every single day and you want to make sure you are prepared and able to execute correctly.

Obviously, every industry is different so no two analyses will be exactly the same. However, the principle remains the same: those who are aware of their external environment are more likely to adapt strategically and reap the benefits of these changes. By using a thorough PESTEL analysis, we are able to form a smart marketing strategy that will complement the SWOT analysis as well, and put you in a position to succeed.

For even more information, check out this article about the reason to do a PESTEL analysis. Click here

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