The customer forms the core of every great marketing campaign, which is what makes consumer-based marketing so effective. Consumer-based marketing is a form of marketing that delves beyond products and promotions to see the unique customer behind every sale. It can be a highly effective strategy that not only fuels sales but allows businesses to build stronger relationships with their existing customers.
Consumer-Based Marketing Versus General Product-Based Marketing
General product-based marketing has, to date, been the most common form of marketing among businesses. Yet, just because it's the most popular, doesn't mean it's the most effective. General product-based marketing is used by a variety of businesses with the goal being to sell as much general merchandise to as many people as possible. It's a more efficient method of marketing that doesn't require the same level of data analysis and forethought, which is why it's so popular among companies.
Consumer-based marketing, on the other hand, seeks to look at each customer as an individual. Brands rely on data to identify various, separately occurring trends among their customers to see what's driving each unique sale. They use this information to create customized marketing campaigns that seek to reach each customer on an individual level, rather than treating all customers as a collective group.
What Does Consumer-Based Marketing Look Like?
Consumer-based marketing has taken many forms, and each company creates their own model based on their specific needs. Amazon is a great example. Despite being the largest online retailer and selling an endless array of different product types, they've used data to tailor each shopping experience to the individual. Each customer receives product recommendations based on their unique shopping history, which boosts their likelihood of making a purchase.
Cisco, a multinational technology company, also relies on a consumer-based marketing strategy to reach B2B customers. According to Doug Webster, the Vice President of Global Marketing and Corporate Communications for Cisco, "We started looking at the notion of building a cult following for our products." It was the desire to increase customer retention that led Cisco to adopt a consumer-based strategy.
Webster realized that, in order to create a loyal base of consumers, products and services needed to be tailored to each individual client. They started by identifying the unique differences among their clientele base. Then, they designed their advertisements not around their services, but around the benefits each particular industry or niche could gain from their services. Cisco also relied on a lot of interactive content to drive engagement and sales among existing customers. Interactive content, such as videos, games, webinars, and events, has proven to be highly effective for increasing retention rates among clients.
Marketing Automation Tools Unlock the Full Potential of Consumer-Based Marketing
Both B2B and B2C companies can benefit from consumer-based marketing, and it has the ability to turn customers into loyal, lifelong patrons. Marketing automation tools simplify consumer-based marketing by aiding in the data analysis and customer management needed to track and manage different customer trends simultaneously. With marketing automation software, marketers no longer have to look at consumer data as an aggregate whole. They can break apart the data, analyzing distinct patterns among various facets of customer demographics, to create tailored marketing campaigns that cater to each individual shopper.
ReachForce helps marketers increase revenue contribution by solving some of their toughest data management problems. We understand the challenges of results-driven marketers and provide solutions to make initiatives like marketing automation, personalization and predictive marketing better. Whether you have an acute pain to solve today or prefer to grow your capabilities over time, ReachForce can unify, clean and enrich prospect and customer lifecycle data in your business, and do it at your own pace.