Okay, so now you know that the way consumers feel about your brand is important. You also know that consistent communication is key to cementing trust and loyalty. But how do you ensure that your messaging resonates with your target market on an ongoing basis?
Brand-building is often considered to be a long-term endeavour where consumer preferences are sticky and slow to change. But this dynamic is under construction. Using digital channels, brands now communicate with their consumers much more frequently across multiple platforms.
With more information about your brand and your competitors’, consumers’ opinions and allegiances have become more fluid. Luckily, the information age has also made it possible for brands to monitor how consumers are feeling about them, in real time.
This knowledge can help businesses to:
- identify new business opportunities and risks
- rationalise product/service offerings
- improve customer experience across various touchpoints
- revamp sub-optimal brand messages
From a marketing and advertising perspective, knowing what your consumer is thinking, and what behaviours might result, can greatly improve your ROI, by ensuring that your content addresses the current concerns of, and resonates with, your target audience.
Finally, because you can gather feedback from consumers almost instantaneously, poorly performing initiatives can be reworked/scrapped before they damage your reputation or waste resources.
As we get closer to consumers – by leveraging our access to vast international databases and analytics tools – we’ve come to see the value in understanding how consumer thinking and behaviour is changing daily; helping businesses stay relevant, agile and resilient.
We also see mounting evidence that consumers are responding more to brand activity and communication. Businesses that get their messaging right in the short term – informed by real-time, always-on consumer data – will reap the rewards of better conversion and retention in the long run.
There are already businesses that use real-time consumer-perception monitoring to enhance their marketing and advertising functions. You already know many of them. To compete with the likes of Amazon, Google, and Facebook going forward, the financial services industry would do well to follow this lead when it comes to understanding what their customers want… today, now, immediately.