How to Adopt a Marketing and Innovation Strategy - Part 2

Jun 25, 2019 102 views

5. Why measure results

However, just as with any action within the business, measuring results is critical. Without due monitoring of metrics and indicators, the performance becomes less relevant and less accurate.

With the consistent monitoring of the effects of each action, on the other hand, it is possible to take advantages, such as:

5.1. Improved decision making

With the support of concrete data, decision making is easier. It is possible to cross-reference information, find trends and make considerations relevant to the whole process.

The use of the data also allows the easy identification of threats and opportunities, guiding the company to act in a profitable and assertive way.

5.2. Elimination of action subjectivity

Part of this gain in assertiveness concerns the elimination of subjectivity. Instead of relying on "business feeling," management relies on consolidated information that matches reality.

With this, risk analysis is favored and the allocation of resources becomes much more strategic and advantageous.

5.3. Decrease waste

A wrong decision within the business does not just cost money. It also leads to wasted resources like effort and time. Although not always a serious fault, it should be avoided.

With the use of data, it is possible to improve the utilization of what is available. When you hit first, it's easier to get ahead of the others.

5.4. Increased competitive intelligence

The generation and analysis of data over time contribute to the creation of an information base. That is, the business starts to have a database in which you can search for evolutions, patterns and results related to the present moment.

Because it is a unique database and especially aimed at the consumer public, there is an important gain in competitive intelligence. This allows you to make better decisions in a consistent, personalized and efficient manner.

6. How to differentiate yourself from the competition

Among so many companies, what makes the customer choose to buy from you? If you do not know this answer, it's time to rethink your concepts. This is because having a competitive edge is one of the most important tasks to generate new business.

This is not an inherent characteristic of the enterprise, but rather, it is built. Differentiating from others is an art and, given this challenge, some useful tips include that you:

6.1. Add more value to what's offered

You can even reduce the price, but the customer does not necessarily search for the lowest price. Instead, it seeks more value, that is, it wants a solution that is even more convenient and advantageous.

So if the goal is to differentiate it is worth adding value to the product or service. Invest in quality, personalization and improved insight into the purchase.

6.2. Capriche in the care

One of the issues that contribute to add value, including, is the service. If it is of quality, the customer will feel that the product is worth much more than the price being paid. In addition, he will be satisfied and will tend to come back other times.

Just as important as training your team is ensuring that those who buy can ask questions or solve problems. So, having a call center makes all the difference.

6.3. Keep the customer focused

When it comes to winning the competition, it is very common to see who does not measure efforts to do better than other businesses. The focus, however, can not be on competitors. He has to always maintain himself in the person who matters most: the client.

So never lose sight of the needs and expectations of those who consume. Align yourself to this and put into practice the actions of differentiation.

6.4. Put innovation into practice

It's no use knowing the market trends and having new ideas if everything does not go down. Since the goal is to achieve differentiation, then it is essential to put innovation into practice.

With the - important - consumer focus, bring new ideas to life and create an environment with unique offers and opportunities for your audience.

7. What to do to delight customers

Enchantment of customers is one of the indispensable tasks for those who want to create a loyal consumer base. It is this characteristic that creates true promoters and advocates of the brand, in addition to people who return several times.

Although the results do not come overnight, some actions are really effective in achieving results. Here's what you can do:

7.1. Offer unique and positive experiences

Approximately 70% of brand awareness is defined by the experiences provided. If the intention is to delight the customer, it makes sense to offer unique and positive experiences.

Offering a free trial period or guaranteeing the total customization for each need guarantees a positive vision and that more easily enchants the person who consumes.

7.2. Help truly the consumer

The way the customer is approached also defines whether he will be delighted or not. More than trying to sell, seek to help your interlocutor. Ensure, for example, consultative service, where problems are heard and consistent solutions are presented to them.

Be sure to ask questions and ensure complete support. If the customer knows that he can call the call center at any time and get help, the chances of spellning fire.

7.3. Practice overdelivering

Overdelivering consists of the practice of delivering more than was originally offered. By offering more advantages and surprising the customer, it is possible to charm him consistently.

It may be the case to offer a monthly discount in the first few months or to offer free technical support, for example. This adds even more value.

7.4. Perform a follow-up

The follow-up corresponds to follow-up. Just as important as closing the purchase is tracking what happens next with the customer in order to maximize your chances of success.

Therefore, it is interesting to maintain a relationship with the consumer, keeping him close and showing the interest of the business in leading him to success.

8. Market trends in 2019

Since keeping up with market trends is so relevant, we can help by showing what promises to be on the rise in 20109. Although each niche has its own specifications, some factors arise in common because of the dynamics itself.

The main movements to keep an eye on include:

8.1. Customization of service

Currently the customer is not satisfied with a standardized service, with impersonal messages and little attention to problems. Instead, he wants a highly personalized and efficient performance in pursuit of maximum satisfaction.

Therefore, it is increasingly important to invest in offering a highly personalized, skilled and available service. This ensures relevant help for the customer, helping them to overcome challenges.

8.2. Higher intensity of technology use

Being in the digital age, it is impossible not to talk about technology. By 2020 - and for many years going forward - the trend is to maximize the use of technology. Features such as Big Data and Business Intelligence, for example, improve data handling and increase competitiveness.

Cloud computing, however, offers such important mobility, as does the use of mobile devices, which promise to appear frequently. Customers are everywhere and they want business to go with them.

8.3. Increased purchasing power of the new generations

By 2020, Millennials or Generation Y will spend more than $ 1 billion per year in the United States alone. Throughout life, the generation will have a purchasing power of 10 trillion dollars.

With this, the market needs to prepare to receive the generation that seeks relationship, personality and value in the acquisitions it makes. Very connected, this generation also demands high technology and quality services. In this way, all of this will influence the performance of the ventures.

8.4. Culture of on demand

Even the arrival of the new generations also makes the on demand economy progressively more important. Customers now want to customize their plans and ensure customization with respect to the consumption pattern.

Thus, companies have to worry about offering new options that fit this style, offering convenience, ease and convenience for those who hire.

In order not to lose market trends and always stay in the news, subscribe to our newsletter. You will receive useful and unique content to improve your performance!