Brands have moved back to prioritizing marketing fundamentals- Akue
By Zion Rufus
The current economic climate has led to a shift in the way brands approach marketing as companies now prioritize marketing fundamentals over digital bets that ran wild during the pandemic.
The above assertion made by Helen Akue, a brands and communication expert, describes how the pandemic has brought on a massive shift in consumer behavior, with the majority of purchases shifting online, leading to a rapid increase in digital marketing strategies adopted by brands.
With the advent of inflation, ad budget cuts, and economic volatilities, many brands have begun to re-evaluate their marketing strategies.
While consumers are tightening their belts and keeping a closer eye on their spending in the heat of the current economic conditions, brands are looking to rethink their marketing strategies.
“It is no longer enough to simply rely on digital advertising and expect consumers to come running. Brands must now focus on the basics of marketing and build long-term relationships with their customers,” Akue stated in an interview with MARKETING EDGE.
According to the communications professional, brands have begun to prioritize fundamentals of marketing by focusing more on investing in customer experience, brand awareness, long-term relationships, and value.
“With these, they can create a strong foundation for success and weather any economic storm that may come their way. Brands that can provide a positive customer experience are more likely to retain their customers and gain new ones through positive word-of-mouth. Customer experience includes everything from the user interface of a brand’s website to the quality of customer service provided. Investing in customer experience not only leads to increased customer loyalty but also has the potential to drive more sales in the long run,” she added.
Meanwhile, brands that are well known and easily recognizable are also more likely to be top-of-mind for consumers when they are ready to make a purchase. This is why branding is so important for companies. Brands that invest in branding efforts are more likely to create a strong brand image and position themselves as leaders in their industry. This can be achieved through various methods such as social media, content marketing, and public relations.
In her final submission Akue noted that by focusing on providing value to their customers, brands can create a positive reputation and increase customer loyalty.
For her, it can be achieved by offering quality products or services at competitive prices, providing exceptional customer service, and offering additional benefits such as free shipping or discounts for repeat customers.
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