Most Consumers are Engaged But They’re NOT as Loyal as They Used to Be

by | Nov 20, 2020 | 0 comments

Marketing is currently all about brand management and advertising. This model is quickly transforming into a more subtle and complex endeavor. Consumers are engaged, more informed, but more wary and savvy. 

Every business can tap into a myriad of data of consumer targeting, segmentation, personalization, and analytics. This changes the dynamics of marketing. For example, largely driven by mobile, digital-media spend now outpaces TV ad spend. With all that said, consumers are engaged but loyalty is declining and competitors are only one click away. 

More data, more digital, more mobile, more opportunity, but less loyalty. 

Today’s marketers must drive and be accountable for revenue growth, delivering ROI on every marketing and promotional dollar. Moreover, their role is morphing to brand protector and overseeing of the constant improvement of the end-to-end customer experience (CX). 

Every business must respond to what the market is communicating in a very agile and swift fashion. Connecting with the consumer at an emotional level by use of great messaging, imagery, and personal engagement. These are all necessary given the trend to a less-loyal customer.

Every business MUST improve their end-to-end customer experience, as competitors are only a click away.

Allocating marketing dollars between spending on social media and building its martech stack vs. spending on design, ad campaigns, and traditional media is now the norm. Today, every business should be thinking about having an always-on marketing campaign.

Going forward, the marketing accelerants will be determined upon being and not doing. For example, being agile and creative all of the time and not just during a one-off sales campaign. Your business needs to be CX – not do CX. 

4M Performance

By Jim Lavorato

Jim Lavorato is the founder of 4M Performance which is designed to assist businesses to survive and thrive in these uncertain times. Jim launched an entertainment-related company in 1988. He was at the forefront in cinema technology and helped spearhead the movie industry's transition to digital presentation and distribution. He also co-founded the Arboreal Group, an environmental consultancy. He has published articles on the motion picture and media industries and is a contributing editor for ScreenTrade magazine and writes a blog "Cinema Mucho Gusto". He is a certified SCORE Mentor in the SCORE Greater Phoenix Chapter and lives in Scottsdale, AZ. Learn more about Jim in his "About" page.

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