Well, not quite, but there is certainly a case to suggest that it is rapidly diminishing and we are moving towards a more personalised, micro marketing focused environment.
As you’re well aware, the marketplace is daunting with countless options, substitutes and alternatives available for every product and service under the sun. Due to this plethora of choices and messages, consumers are becoming more and more resistant to homogenization and generic offers that communicate with everyone in the same way. Think about it, as a person, you don’t speak to your family, friends and colleagues in the same manner; you adjust your approach/chat depending on the individual you’re talking to. The same is required for brands. They need to tailor their message to specifically targeted (and increasingly savvy) consumers who want connection on a personal level.
This personalisation of customer experience is absolutely crucial in creating and maintaining a trustworthy brand with which people want (or need!) to engage – which is essentially the end goal for any marketing campaign. At a basic, day-to-day level, you are more likely to have a favourable opinion of, say, a hairdresser who knows your name or a bar in which you can ask for “the usual” – you engage more with those who care about you, and it’s the same for brands.
As consumers’ expectations increase, as do brands’ need to match and ultimately exceed these. From this, individually shaped communications has understandably been touted as a ‘tsunami’ that will shape the future of our industry. Unquestionably, the brands best suited to surf this wave are, as unglamorous as it sounds, those with robust research methods and data capturing techniques.
The reasoning behind this is fairly simple. Simple, not easy. As I’ve mentioned, the more you understand consumers on an emotional level, the more you’ll be able to foster engagement and consequently, maximise customer value to build a (lasting) relationship.
Companies with thorough data capturing instruments will be able to track past behaviours, habits, patterns and preferences and consequently build specific consumer profiles. This allows companies to target and communicate to consumers with unprecedented accuracy and personalisation resulting in more meaningful and emotional engagement.