The New Power Struggle: Brands And Their Customers. Who Will Win? Tiffani Bova
If you are a sales or marketing executive, it should come as no surprise that we are officially in the â€œAge of the Customer.â€? It used to be that companies could control the information exchange about their brand, products and services with customers, and position themselves in a way which best served their agenda. However, with a constant stream of new digital and social technologies, a perfect storm of access (24x7 via multiple devices) and information (branded and non-branded) has been the catalyst for the emergence of new customer buying behaviors and a power shift from providers of products and services to their customers. Those very customers who used to rely on brands for information are now much more empowered in their decision-making abilities, significantly impacting all aspects of the business. While this power shift may actually have a positive impact on the volume of customer engagement and interactions with brands, it will also be highly disruptive to long-standing sales and marketing strategies for organizations around the globe. In the recent Salesforce 2016 State of Marketing research report, it was found that customer engagement is a top priority for marketers this year, slightly behind brand awareness. While brand awareness is a longstanding marketing objective that implies one-way, business to consumer broadcasts, customer engagement indicates the rising importance of more personal relationships with customers via valuable two-way communication.
Does your brand inspire loyalty? Find out how top brands do it, in this latest issue.