MAM

Relationship marketing is the new mantra

NEW DELHI: Marketing is not only about handing out attractive deals to consumers or talking to them in general terms. Now, it is about relationship building, marketing experts felt.

“Marketers are now focusing on building the value of loyalty with existing consumers rather than just giving better deals to attract new consumers”, said Sian Davies, CEO of Henley Centre, a WPP-owned international strategic marketing consultancy, at a CII-organized marketing summit here.

Speaking at a session on `From Brute Force Branding to Relationship Marketing’, Davies pointed out that it is important to pinpoint those customers who are driving value for a category and brand and address them via relationships to better understand their needs.

The other panelists for this session were Harish Bijoor Consults CEO Harish Bijoor and General Motors India MD Rajeev Chaba.

Recognizing that consumers are not as loyal as they used to be, Davies illustrated a research done in the UK that demonstrated how consumer loyalty has fallen from 75 per cent to 66 per cent between 1998 and 2003.

Dwelling on the importance of customer retention, Davies gave insightful examples from the UK on how in a bid to get new consumers, companies often forget or ignore existing consumers. This, she said, puts off consumers and often drives them away.

Echoing a similar sentiment, Chaba highlighted the need for companies to examine lifetime value of a consumer for the company, rather than just ensuring some immediate sale.

This, he said, allows companies to build a relationship with a consumer that “transcends time” and maintains that customer within the brand franchise for an extended duration.

Chaba agreed with Davies that modern-day consumers do not tend to be faithful to any particular brand. “This was a worrying factor for marketers and a wake up call was required for companies to balance company goals with consumer demands,” he said.

Harish Bijoor in his presentation called for marketers to move from a one-size-fits-all marketing strategy to more personal and one to one game plan.

In this connection, Bijoor talked about how marketers in their bid to address a mass audience often go in for “lowest common denominator” strategy, which generally ends up pleasing no segment of the mass

consumer group being targeted.

The panelists in the end converged on the fact that it was clear marketing in a truly mass way is not likely to deliver long-term sustainable business. Consumers need to be wooed personally.

Latest Reads

http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/25/suhas.jpg?itok=4sIdtyGy
Rickshaw's design unit nets Future Consumer, Cambay Tiger & BarBar

Mumbai-based creative and communication agency Rickshaw has announced the launch of its design unit so as to cater to client needs and communication requirements.

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/25/Anupam%20Roy_1.jpg?itok=XGD4mlA1
JSW portable slag cement TVC launched

MUMBAI: ITW Playworx, the entertainment, media & communication arm of ITW Consulting, conceptualised and managed the launch of JSW Portable Slag Cement and celebration of Salboni Plant at Kolkata recently.

MAM Media and Advertising Ad Campaigns
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/25/Untitled-1.jpg?itok=--vdD5Ui
Brand Street sets up fourth branch in Chennai

MUMBAI: Brand Street India , an integrated marketing agency, continues geographic expansion with the opening of it’s branch in Chennai. This will be the brand’s fourth office in India and second office in southern India after Delhi, Mumbai and Bangalore. The Chennai branch will be headed by Sreeram...

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/25/Aditya_Birla_Fashion.jpg?itok=MSuO2mO0
Aditya Birla Fashion embarks on national expansion

MUMBAI: Aditya Birla Fashion and Retail Ltd.’s Van Heusen Innerwear & Athleisure business has announced a pan-India growth plan in this emerging segment. Since its foray last year, Van Heusen Innerwear & Athleisure has created a strong presence across 1700+ outlets across 80+ towns in South...

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/19/guest.jpg?itok=aSc2eH-h
Guest Column: Start-up hacks: A cheat sheet for success

With the convergence of technology and media, we are witnessing tremendous activity in the start-up space.  From content to distribution to broadcast to affiliate opportunities, there is no dearth of new ideas and their backers.  Surprisingly not all of them are covering all their bases to crack...

MAM Marketing MAM
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/24/test.jpg?itok=m4erCRO8
India-Sri Lanka test series net a bagful of ground & instadia sponsors

The folks at India-based sports management firm ITW Consulting are sporting broad smiles on their faces. The reason: a clutch of brands has signed up as on-ground sponsors for the upcoming India vs Sri Lanka test series starting 26 July in the Emerald isle.

MAM Marketing Brands
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/24/ch.jpg?itok=Nyf60UeV
Gutenberg appoints Christina Daniels as director of content for India

Renowned content writer and author Christina Daniels has joined Gutenberg as director of content for India.

MAM Media and Advertising People
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/24/tip.jpg?itok=OW-Erj_P
WATConsult gives humorous twist to Motilal Oswal marketing TIP

WATConsult, a leading and awarded digital and social media agency, part of Dentsu Aegis Network along with Motilal Oswal, India’s leading financial service company has launched a digital campaign called #TheOnlyTIP.

MAM Media and Advertising Ad Campaigns
http://www.indiantelevision.com/sites/drupal7.indiantelevision.co.in/files/styles/340x340/public/images/tv-images/2017/07/24/ambuja-cement.jpg?itok=FE9RTWs-
Publicis Ambience & Ambuja Cement part ways

Ambuja Cement and its creative partner Publicis Ambience have decided to mutually part ways.

MAM Marketing MAM

Latest News

Load More

Sign up for our Newsletter

subscribe for latest stories