Marketing area is one of the functional areas of the company which can always be described as challenging. Its function involves attracting and retaining satisfied customers. In this context, profitability is a relevant factor because the value of the company is maintained while creating value for its customers. Satisfied customers usually mean better margins for the company.
It’s ultimately a delicate balance. For the marketing functional area, maintaining profitability and at the same time satisfied customers is a constant challenge. In other words, we always want to do less of the classic in business.
Although each individual’s philosophy varies from company to company, the sales department belongs to the marketing department. Therefore, marketing is responsible for knowing the customers, attracting them and satisfying them with the profit expected by the company. Without directly referring to it, it can be considered as one of the most relevant functional areas within the organization.
Knowledge of customers motivates them to focus on: target market. With this in mind, the products that customers buy are made. Undertakes various processes to communicate the advantages, benefits and characteristics of the marketing offer to customers to buy the product.
On the other hand, with the same knowledge and selection of target market, marketing defines how and where the customer will get the product. The marketing channel is also determined which includes the distribution, price and point of sale of the company’s products and in many cases the means and methods of payment.
As there is a constant need to maintain and attract new customers, maintaining an adequate relationship with them is crucial. Therefore, according to Twilio’s 2023 State of Customer Engagement report, investing in customer interactions through digital methods has improved customer satisfaction by 60%. It is noteworthy that now companies are investing more in digital media than any other media. One of the main reasons for this is that they realize that through this avenue they can respond better and faster to meet the needs of their customers.
Consumers have long turned to digitization. In the early 2000s, it was seen that the Internet would be a part of everyday life, and it has a prominent presence today. The pandemic years accelerated this digitization, and it is now widely used. Of course, there are still people who avoid digitization or want to avoid it. At the end of the day, digitization is exponential and covers almost everything consumers interact with.
Therefore, according to Divilio Digitization Drive Investment, the direct relationship with consumers is related to the growing need to protect consumer privacy and the digital reality in which companies are immersed.
With the above and other data from further analysis, Twilio identifies some important elements of digitization with the customer:
- Consumers have little patience for impersonal experiences. It is necessary Respond to offers, messages and issues quickly, in a personalized and immediate manner. Organizations must consistently meet expectations across all their communication channels.
- Real-time personalization adds value to customers. Personalization has become essential to deliver better experiences, shape customer behaviors, and build satisfaction and loyalty. Achieving this means improvements in the value the customer receives and the company builds on it and works on their loyalty and permanence in the medium and long term.
- Consumers disagree Cookies. It is preferable that the Company collects your personal data through third parties. Consumers want more control over their privacy and who owns their personal data. It involves establishing direct relationships or developing them.
- Consumer trust in the brand is lower than the company thinks. Companies need consumer confidence. It is better for the company to increase trust in its brands through direct strategies. Despite the difficulties, it is preferable to have verified and authorized access and accounts, which creates better connections and perception on the part of consumers.
- Balancing security and customer experience is essential. Proper use of all forms of technology can limit the current digital vulnerability. With this control, the relationship with the customer can be satisfied and improved in all their interactions with the company. No one likes the hassle of accessing their account on any platform. Companies want healthy returns. Balancing all this properly is one of the challenges.
For too long, consumers have been telling brands and companies what they want. The 4Ps of marketing (price, place, product and promotion) seem to have been transformed into the 6Cs of consumerism (cost, convenience, perception, communication, customer and sustainability). The first is controlled by the company and the second is controlled by the consumer, who tells the company what he wants.
In the digital economy, consumers have more options to choose and support companies that understand them, listen to them, and care about them. Digital technology is here to stay and replaced with artificial intelligence, which almost no one can escape.
Consumers may choose to buy from organizations that care, treat, and protect them in this environment that they don’t understand much about, but that can seriously affect them.
