Customer Centric Marketing Strategies

Customer centric marketing strategy is one of the approaches and strategies wherein the task of any business is to focus on customers and plan accordingly. This strategy uses the long term metrics to understand the behavior of the customers and to see from their point of view. In traditional marketing, marketing occurs during the selling process, where the view of marketing team is to make a product and then sell it. The traditional marketing approach does not take into anything from wants, perceptions, or preferences of a customer to their demographics or buying criteria. Whereas in customer centric marketing approach, a firm focuses on all the above mentioned factors and a proper delivery process.
Building an accurate marketing strategy requires a blend of flexibility and discipline. Companies are redesigning their business models and work flows by building cross-functional teams which need to be responsible for each other. A marketer will be successful when it cultivates customer satisfaction and loyalty by exceeding customer expectations and beating competitors.
Here in customer centric marketing strategy comes in handy and helps to gain long-term loyalty from customers. The marketers can connect with customers – inform, engage and encourage them in the process to gather more involvement. Customer-centered companies are adept at building customer relationships and not just products.
Simply put, customer-centric marketing strategy is a marketing technique which provides additional value to customer.

OTHER POPULAR MARKETING TECHNIQUES & WHAT MAKES THEM DIFFERENT

Product-centric marketing:

Product centric marketing deals with creating the best product and is focused on marketing it rather than catering to customer’s needs. Product centric companies define themselves by their products. They are focused on new product development rather than customer relationship management.
They also have a myopic vision of the market where they ignore the changing market conditions in regards to customer behavior. It doesn’t pay much attention to what needs of customers are not being fulfilled.

Transactional marketing:

It involves a single “point of sale” transactions. It is more focused on maximizing the profit through individual sales and not building any relationship with the customer making it much more complex. It focuses on actual sale of the product rather than customer retention.

Mass marketing:

This is done to drive large number of sales by corporations in order to survive. A firm doesn’t target any market segment and calls out the whole market using single strategy or single offer. Mass marketing focuses on huge volumes of sales rather than the requirements of an individual customer. The main disadvantage of this technique is that its dependence lies on a particular strategy or offer which is subject to change due to market fluctuations.

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