Consumer beliefs and behaviours are changing fast. To keep up with and perhaps even influence these changes, businesses must leverage deep consumer insights that will help them effectively adapt their marketing strategies to better serve their target markets. TLC Marketing has been conducting in-depth research on consumer behaviour trends and shifts since the inception of the pandemic and some new behaviours will endure well beyond the pandemic and permanently change values and attitudes.

The year 2020 has proved that businesses need to be cognisant of customer experience (CX), today’s CX is much more than just providing good customer service: it includes ensuring customers receive their products and services when they want them, and at the price point that fits their pockets, whilst at the same time adding maximum value back. TLC Marketing has observed the following trends as prominent and important for businesses going forth in 2021:

  1. Shift to value

Almost, a third of all consumer products were sold at discounted prices in South Africa which is one of the highest rates in the world. A survey by the research agency Nielsen shows that more promotions are “training” consumers to only buy on sale. This is making them resistant to “normal” prices – and backfiring on retailers and producers. With the world pandemic having affected all businesses, aggressive discounts should not be part of the marketing strategy for 2021 given that the past months have been promotional heavy. Businesses can offer their customers value by adopting a data-proven solution that enables the business to reach its objective and at the same time serving their customer.

  1. Shock to loyalty

We are living in the experience economy, this combined with fierce market competition, disruptive technology and financially squeezed consumers, means that loyalty and real-time customer engagement is no longer a nice to have but a core business imperative to a company’s survival. Having an eye-catching advertising campaign is no longer enough to drive sales and build brand affinity. Today we are truly in a new era of ‘Experience-led Loyalty’. A successful loyalty program connects with customers through emotional design. According to Harvard Business School professor Gerald Zaltman, 95% of purchasing decisions are made by emotions. To connect and resonate emotionally, brands must know who their customers are and what type of journey they are on.

Does your business have the proper tools to start connecting emotionally? Do you have specific personas and customer journeys prepared to respond accordingly? Do you understand customer motivations and needs at a basic level? TLC Marketing has a wide range of cost-effective EXPERIENTIAL REWARDS available for you to give to your customers right away. These rewards will be tailored to your target market considering their different lifestyle and aspirational needs.

 

Contact TLC Marketing today on 011 676 7700 or sawubona@tlcmarketing.com to reach your objective in 2021.