Written by: Saloni Singh | Vidwaan Voyager 2020 | MBA 2nd Semester | Motilal Nehru National Institute of Technology, Allahabad
Have you ever wondered what value are you looking forward from a product when you say you are going to buy it? And how come marketers know better than you as a confused consumer? Let’s dive deep into the whole cognitive process!
It was in my first year of graduation when I went shopping for grocery with my mom and realised how our expectations from a product is exactly fulfilled by the offerings. I and my mother are both conservative homebodies, that is, we are extremely driven by the idea of value for money. I never shop a Veblen good as of now as a student. As a consumer, I always look for solution to a need and in some cases want (i.e. state of felt deprivation). Now, on fine such shopping day, I analyzed my behaviour as a consumer in a marketplace and thought, how is it that the shop never fails to fascinate me with its new products and marketing strategies keeping the constraint I have inbuilt in on point. So, why not just pen it down and make it easy for emerging marketers out there. Here are the ten ways to market to a consumer like me:
- Start with the very obvious and the basic, yes, you guessed it right, Inbound Marketing. Pull me in, with the Content marketing blogs, a fine search engine optimized website would be high heaven move. I am from GEN Z, also popularly known as Millennial; I first surf, browse and then make the conversion. We recognize a brand with their creativity now and of course their digital presence. So, if targeting millennial, a well optimized digital platform should be your primary concern.
- Once done with the inbounds, you need re-targeting, I am a potential consumer, but look around, you have huge competition. Some strategies for re-targeting would involve sense of urgency like weekend deals and month-end discounts. Give proposals like “IF Not today, then Never”, I am sure; I am listening to these CTA (Call to Actions) and pondering to make a move.
- As a student, I am always looking for I bought a printer at low price but, I am paying good sum of money for the cartridges every quarter. So, yeah use the razor blade business model to allure me. We cannot make a hard payment once but can subscribe to your complementary good on fixed intervals. Also, you can use freebie marketing for the promotion of any new product, get me used to it and then chase the margins.
- Below the line strategy is the next step you should take to keep retaining me once I am converted. Yes, Send me mails; tag me in your social media campaigns and quoting the obvious make your display advertising and video marketing on point. Basically, start a targeted marketing awareness and make me a part of your campaigns. Customize my user interface embracing my shopping history.
- Affiliate or Influencer marketing, yes, we have icons, from fashion icons to the inspiring leaders. I am more likely to purchase the product promoted by the influencer’s evangelism than the salesperson or the personnel. Affiliation and getting discounts on reference is again a bright idea to incentivise your product. Also, the credibility of your products is enhanced.
- Our generation is most vulnerable to the climate change which has made us worry about the nature more than any other. Thus, we appreciate the organizations taking pre-emptive measures towards such environmental measures. And, thus, Green Marketing would be a very cherish-able. Market the environmentally-friendly products or at least have modification in their production process and sustainable packaging. Even sharing the idea of sustainable development would be appreciated.
- Now, once I have developed a brand affinity for you, keep surprising me with your innovative Yes, keep up with trend, not just in the product but all the experiences I have while purchasing your product, which includes making the best use of Neuro-marketing in packaging but also providing ease of purchasing the product.
- Make them available, keep the strongest distribution network because, we don’t mind and switching products. I cannot rely on a brand with poor distribution channel because of their availability issues. Especially in the case of perishable products, hence a concrete marketing mix is required.
- I have always been looking for seasonal discounts on the products I great affinity for. So, when a brand does not offer such discounts, I am reluctant to purchase from that organisation. The discounts are more like the compensations; I get for my loyalty towards that brand.
- At the last points but the most essential, all the above points are mentioned assuming the quality of the product is good and promising. The product should cater the needs and provide crisp and clear solutions to the problem the consumer is betokening to.
- And, finally, be responsive organizations, Adhere to all the grievances I have from your offerings and try to fix it as soon as possible.
Once you are up with all the ten ways mentioned above then, Trust me, you have conservative homebody your most loyal consumer. And will always rely on your brand first and foremost whenever in need of the corresponding product category.