Last week we put on a webinar on how to pivot your business’s marketing effort to be more digitally focused. It’s no secret that COVID-19 has dramatically changed the way that both business buyers and consumers are purchasing products and services. You can watch the webinar here, or continue reading this post as we highlight what we covered during the webinar.
Customer Behavior Has Changed for Good
A recent study by Accenture identified 5 new types of consumers:
- The Worrier: This person makes up about 21% of our customer mix. This individual is fearful of the future, anxious and reactionary
- The Individualist: This person makes up about 22% of our customer mix. The Individualist looks out for himself or herself, stockpiling essentials (because everyone else is) and trying to ensure he or she can maintain his or her status quo.
- The Rationalist: About 39% of our customer mix. This person has a “keep calm and carry on” mentality.
- The Activist: At approx 8% of consumers, the Activist is looking out for and supporting others in the community.
- The Indifferent: This customer type is about 11% of the total. The nonchalant person is carrying out business as usual
As you can see with these new emerging customer types, the way that we market has to change. The days of one-size-fits-all marketing are over. If you send out the same marketing message to the Worrier that you send to the Indifferent you’ll never get the worrier to engage with you.
Digital First Strategy
With digital marketing being the beneficiary of these changing buyer behaviors it’s important that if your company hasn’t adopted a Digital First strategy, it’s certainly time to start.
First, let’s get a good definition of what digital first really means.
Digital transformation is the integration of digital technology into all areas of a business, resulting in fundamental changes in how a business operates and the value they deliver to their customers.
Digital first is not about the technology. It’s about a shift in your strategy, getting your marketing message to where your targeted customers are, and delivering a marketing message to them that is highly relevant to their current position in the buying cycle.
With a digital first marketing strategy there are a number of benefits that you can provide to your customers, benefits that they are expecting from the companies that they do business with. With digital first you’ll be able to:
- Provide your customers with exceptional service
- Give them marketing messages, and offers that are highly personalized
- Create experiences for your customers that are consistent across all marketing channels
Exceptional Customer Service
The number one reason why a customer leaves is because they feel like you don’t care about them.
It doesn’t matter if you provide customer service by phone, email, social media or live chat, just be sure to provide it and provide it quickly. Several years ago the average email response time for the top 100 retail companies was 17 hours. Today, unfortunately, it’s not much better. Today’s average response time is 12 hours. We have to do better!
Fix your mistakes: Not taking responsibility of your mistakes is a sure fire way to getting a bad reputation. Look at any review site and there are thousands of real life examples of companies that don’t fix their mistakes and lose customers as a result.
A recent survey found that 68% of consumers would react by telling family and friends about a bad experience by posting it on a social network. And as each Facebook profile has an average of 155 friends, one negative experience can quickly reach thousands! By putting digital first, you’ll be in a position to 1) know when your customers are trying to get your attention and 2) be able to respond in a time-frame that meets their expectations.
To hear more about how to pivot to a more digital strategy, go to the webinar recording and listen to the entire thing.