It’s All About the Real Deal: Value-Added Marketing for Today’s Consumers
This year marks a watershed moment for businesses. Consumers, empowered with information and driven by values, are no longer swayed by empty slogans, glitz, bad experiences, and hollow promises. Today’s consumers now consider a company's social and environmental impact, which highlights the growing importance of aligning brand values with consumer beliefs. To thrive in our new era, brands must prioritize a customer-centric approach built on a foundation of shared values. Here are some important approaches businesses need to prioritize.
Value-Added Marketing
Simply listing features is not enough. Today’s branding hinges on value-added marketing, which focuses on how a product or service improves lives, solves problems, and demonstrates the tangible benefits that resonate with buyers. In 2019, McKinsey & Company reported that 70% of buying experiences are based on how customers feel they are treated. That means it's about moving from "what it does" to "how it makes you feel."
Sustainability Responsibility
Environmental consciousness is non-negotiable for most today. Brands that champion sustainable practices, from sourcing to production, are attracting consumers who are increasingly concerned about the planet's future. As reported by The Business Standard in 2023, 84% of customers say that poor environmental practices will alienate them from a brand or company. Making the move away from high carbon footprints, single-use plastics, and non sustainable materials is necessary and definitely a wave we can all get behind.
People Over Profits
Because of some really outrageous profiteering happening today, consumers are now drawn to brands prioritizing people over profit. A 2023 IBM Global CEO Study revealed that over 70% of CEOs believe that a company's purpose is to serve society, not just shareholders. This shift resonates through fair labor practices and a focus on employee well-being. Investing in people, both internally and in the community, fosters consumer trust and loyalty especially among those who value ethical business practices.
Transparency and Authenticity
Consumers crave authenticity and they want to see the "real deal" behind the brand curtain. Be open about your company's mission, challenges and achievements. Foster open communication, readily respond to inquiries and feedback, and demonstrate a willingness to learn and improve. Regularly, consumers are discovering businesses supporting opposing values while continuing a facade to gain their trust, and it’s doxxed all over social and traditional media. Better get steppin’ and walk the walk.
Positive Customer Experience
A big part of your brand’s perception depends on every customer’s interaction with your business. A 2023 CX Report by PwC found that 73% of customers say that customer experience impacts their buying decisions more than price and advertising. Every touchpoint, from product design to customer service, needs to be crafted with a customer experience focus. The bad news is that 62% of bad CXs are reported online, however the good news is that 72% of good CXs are also reported. Where do you want to be positioned?
The Value-Driven Brand Advantage
Embracing these approaches, today’s brands can build a strong foundation for success. It's about (re)formulating a brand identity with a soul, one that resonates with consumer values and delivers a great customer experience.
The reward? Loyal customers who are invested in your products have become brand advocates and spread your message and amplify your values. This is important because our world is increasingly driven by shared purpose. Today, brands that prioritize values and customer experience will be the ones that truly thrive – so be the real deal.