Wednesday, March 14, 2018

Getting back to basics

Relationship, relationship & relationship, the three Rs of marketing. Sorry, I couldn't let that pass. We're all familiar with the 4 Ps. But hey 3 Rs is at the core of every business and especially marketing. Many of us learnt about CLV (Cutomer Lifetime Value) in the context of customer churn. The most powerful weapon to reduce customer churn is relationship.

With the advent of Facebook and other social media, one-on-one relationship with customers had taken a back seat. But thankfully, this trend is fading away. We're getting back to basics in 2018: Personalization, Better websites, Ads over articles and Omnichannel approach.

In short, today we need to personalize our engagement with our customers, facilitate a common experience across all engagement channels and have a consistent theme.

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