In the previous issue of Management Tips, we addressed customer-value-oriented marketing as a set of actions implemented by a company with the main objective of meeting the expectations and needs of customers.

Today we are going to lay out a step-by-step strategy for developing such a strategy.

The first step is to identify your company’s target audience. The development of a marketing strategy focused on the value of the customer necessarily involves delineating the market and anticipating their expectations. This delineation makes it possible to characterize the personae of buyers to customize the company’s marketing actions. Customer personae add value to the business by representing several segments. A company’s use of research is key in understanding its target audience, including what motivates its customers to buy its products/services.

The next step is to segment the target audience. Segmentation allows the company to deepen its understanding of its audience within the initial, broader approach. Audience segmentation is fundamental in the digital environment, because consumers are making more informed, more rapid purchase decisions. The challenge for digital marketers is to know how to win customers at the time of making a purchase decision, and this requires understanding how the target behaves.

Next, it is essential to develop the product/service strategy to meet the target market. Identify your target customers and develop a product/service based on prospected market information. When the company focuses on customer needs, the chances of success increase, from product development to the implementation of marketing strategies.

Next, develop an omnichannel customer engagement plan. Today’s customers expect brands to offer experiences that extend beyond in-store purchasing to their phones, tablets, and computers. To be a successful customer-value-oriented marketing strategy, the customer engagement plan must be omnichannel. Omnichannel strategies enable the company to obtain valuable information about customer interactions and their behavior throughout the product/service life cycle.

Now, invest in the customer service experience. Customer service is an important part of a marketing strategy focused on consumer value. Customers always remember brands for the quality of the product/service they offer; however, if your customer experience strategy is not well structured, you will lose business, no matter how good your product/service is.

Then, use customer feedback to improve the strategy. One of the vital aspects of a marketing approach focused on consumer value is communication with the customer. Your support team plays an important role in planning your marketing. Customers who interact with the company need to have an excellent experience that brings benefits to both parties. The positive customer experience improves the reputation of the company and the brand. The implementation of customer feedback will not only help create better products and services, but will also provide customers with the feeling that the company values them and is listening to their opinions. This perception is central to building trust and loyalty.

Finally, take the opportunity to win more customers via word-of-mouth marketing. Increasing the customer base with recommendations and word of mouth should be part of the customer-facing marketing strategy. The company can attract new customers by encouraging loyal customers to share their positive experiences and success stories with friends and family and with their followers on social media platforms.