The ‘landscape’ that all businesses operate in is constantly changing and adapting – the continuous rise in online shopping gives consumers the ultimate array of products and services. This allows both you and your competitors to reach more customers than ever before so, it is of the utmost importance that your brand is relevant to the customers it is marketed to.
What factors affect brand relevancy?
It is a useful exercise to ask yourself questions that help you gauge whether your brand is relevant to your target market.
Accessibility
· Is your brand physically accessible to your target market? Do you own a store?
· Are your products that are in stores located near to your target audience? Is your store in a convenient location?
· Can your products/services be purchased online or via an app?
· Are the delivery options flexible? Can your product be picked up in-store?
Experience
· Is your store clean? Are the staff friendly?
· Do you engage with your target market online?
· Do you produce inspiring online content?
· Are you engaged with the community that reside near your brand locations?
· Do you offer services to assist disabled customers and the elderly?
Price
· Is your pricing competitive? Can your target market afford your product/service?
· Is your pricing location-based to suit your customers?
· Is price-matching appropriate?
Product
· Is your product/service of sufficient quality?
· Do you have a wide range of products/services?
· Are you able to meet demand?
· Do you offer visualised product/service information and usage advice online?
Service
· Is your customer service acceptable?
· Do you have a returns policy?
· Do you have a loyalty program?
· Have you offered your target audience personalised offers?
· Have you got an interactive service via your digital channels, such as click-to-chat and social media?
· Are your staff trained to support in-store?
By asking yourself these questions, it should highlight the strengths of your brand, and areas of your current marketing strategies that you need to adjust to make your brand more relevant to your target audience.
Why is brand relevancy important?
Being a relevant brand to consumers means your customer acquisition costs will be reduced, but more importantly, you will increase the likelihood of forming a relationship with your customer, because your brand is relevant to them. The bond between consumer and brand means the customer will be retained, leading to an increase in customer lifetime value.
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How to ensure brand relevancy to the customer
Market Research
Market research will give you information about both current and potential customers. By using marketing campaigns, you will gain an understanding of their wants and needs. The identity of those who are irrelevant to your brand can be dismissed, and you can readjust certain aspects of your marketing mix to make your brand more relevant to valuable customers.
Target Marketing
By undertaking market research, you can use your resources more shrewdly. Rather than relying on marketing your brand to all potential customers, you can reduce the costs of your marketing campaigns by targeting specific, high-value customers. Your brand will be relevant to these customers, so by target marketing, you increase the likelihood of sales and the formation of a relationship with them.
Content creation
Communication with your customers helps maintain interest. Customers will engage with a brand if they go beyond the transactions of goods and services. Blogs, updates, stories, questionnaires, and more can be passed on to consumers via direct mail, email, social media, and other viable channels to keep customers interested in what the brand has to say and will increase the time they are engaging with the brand
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