Customers value a better experience above price and it is expected to surpass both price and product by 2020

All marketers know their marketing 5Ps, but how do you update your marketing when you adopt a customer first strategy? Here are some tips and ideas for you to adopt – or adapt.

PEOPLE
This is the easiest of the marketing 5Ps for a customer centric organisation to adapt because a customer first strategy is all about your customers. However, in recent years, there has been a lot of talk about the importance of employees, some even suggesting that they are more important than customers!

I discussed this in detail in a post a couple of months ago, called ” Customers Care About Products & Value, Not Employees.” Click the title link to read my perspective on this topic.

The 4W template is useful for the new marketing 5Ps.
Personally, I believe that customers are your biggest asset, as they are the ones who pay your wages and make your business thrive. It, therefore, makes sense to know them intimately. If you have a different perspective I’d love to hear it; just add a comment below.

In C3 Centricity we use the 4W™ Template to record and describe the customer personas of our clients’ brands.

If you still haven’t downloaded our FREE persona template, CLICK HERE to get your free copy and instructions.

In addition to knowing and describing your target customers in detail, the other tip I give when you want to update your marketing when you adopt a customer first strategy. is to start and end every meeting by asking the “magic question.” What is it? It is this: “what would your customers think about the decision you have just taken?”

This one simple idea is incredibly powerful in identifying actions which are not customer centric. I will give examples of these in the remaining 4Ps below.

So a customer-centric approach to your customers is both thinking about them in every action you take, as well as knowing them as deeply as you can and keeping this knowledge constantly updated.

PRODUCT
This is often seen as the most important to address when you decide to update your marketing. After all it is what you are selling. It is also the one thing you think about day in and day out. But it’s not the most important in a customer centric organisation. Surprised?

Think about it for a second. Without knowing the P for people in great detail, you won’t be able to optimise your offer in terms of the other four Ps. That’s why it’s a customer first strategy that works better than any other.

Without knowing the customer in great detail, you won’t be able to optimise your offer of the other Marketing 5Ps #Marketing #Brand #CMO CLICK TO TWEET
Here are some examples of how companies realised they get their product wrong when adopting a customer first strategy and a couple of right actions for inspiration:

WRONG! Any business that reduces pack content without informing its customers of it and the effective price increase. Read JD Roth’s “Hidden price increases at the grocery store” for more on this.
WRONG! Exaggerated claims or twisting the numbers of contained calories by having unnatural serving sizes – seven potato chips anyone? Or saying a product is 95% fat-free, but it refers to the weight, not the calories! I once heard that everything written on the front of a pack is a lie!
Everything written on the front of a pack is a lie! #brand #marketing #packaging CLICK TO TWEET
Check this out with any pack and you’ll see what I mean; there’s sure to be something not strictly correct on it. Please share any funny or annoying examples you find in the comments below.

WRONG! Making variant identification difficult for customers. Have you ever bought the wrong product because packs were the same colour and just the names changed? I know I have. Or tried to understand the differences between variants that have five or seven descriptors?
WRONG! Running frequent product tests only comparing to the latest version. Although this is standard procedure, if you make regular tests for small changes which go unnoticed in the short term, they can amount to a big, noticeable change over the long term. Better to compare results also to past best ones than only using the current benchmark.
WRONG! Any company that makes it difficult for its customers to use their product. Think large bags of pet food or kitchen rolls without easy-carry handles; salad sauce or shampoo bottles which are impossible to open with damp hands; sealed bags which split when opened and need to be stored in a different container.Tropican pack change
WRONG! Making pack or logo changes without finding what your customers like or dislike in the current one. Think about the much-publicised Tropicana disaster back in 2009, or the Gap logo change.
Coke holiday edition white canOr more recently the Coke holiday edition white can that consumers confused with the diet version, and were understandably disappointed when they realised they had bought the wrong variant.

One thought on “Customers value a better experience above price and it is expected to surpass both price and product by 2020

  1. krueger says:

    It іs perfeсt time to mаke some plans for the fᥙture and it’s tіme to be happy.

    I’ve read this post and if I could I wish t᧐ suggest you some interesting things or tіps.
    Perhaρs you could write next articles referring to this aгticle.
    I desire to read more things about it!

Leave a Reply

Your email address will not be published. Required fields are marked *