The key differentiator in building strong brand equity
Content has always been celebrated as king. Content marketing and content strategy are important pillars of any company’s marketing efforts. Traditionally, content marketers viewed content marketing and strategy as an easy way to convey the best features and benefits of their product to the potential consumer and to make the sale. They used to focus all their efforts and energy on attracting new customers in order to grow the business. However, content marketing has grown way beyond this simple concept. A seasoned content strategist knows that it’s not only important to acquire new customers, but also to retain older and regular customers.
The content strategy has quickly evolved far beyond just communicating the product and generating new sales. Modern content strategy focuses more on building brand equity and retaining customers. She not only wants to generate new sales, but above all to bind regular customers to the brand. It is well known that the cost of acquiring new customers is significantly higher than that of retaining regular customers. Modern marketing principles are now replacing the funnel with the flywheel, where customer loyalty is a key factor. Content marketing is perhaps the most important tool in the entire flywheel. Today’s content strategy must focus on providing personalized and engaging content so that the customer feels connected and special with the brand. However, one might be tempted to ask how to do this. How can you retain customers? How do you feel special?
In today’s world, people spend much of their day online. During this time, they read blog posts, watch YouTube videos, surf social media, send and receive emails, watch and make short videos, and much more. The content marketer has to find his place between all of this. An inexperienced marketer will try to squeeze their ad somewhere in between. Customers don’t like being interrupted between their work or conversation. You get irritated and eventually skip the advertisements. On the contrary, a skilled marketer will attempt to deliver engaging content to customers that will automatically find its place in their daily internet routine. This can be done by posting informative blogs, interesting videos, interactive social media posts, and so on. Customers don’t just spend time on such content by liking and sharing it too. This will of course expand the reach of the content. This content also leaves a lasting impression in the minds of customers and can influence their purchasing decisions.
Marketers today are armed with various digital tools that are equipped with AI and ML. These tools can not only help them track the online activities of their customers and prospects, but they can also help them analyze their behavior. These tools can also categorize and analyze customers by age group, gender, location, and various other data points. This helps the content marketers create personalized content for the customers. For example, women between the ages of 18 and 30 who visit fashion clothing websites are likely to be drawn to blogs and videos about the latest fashion trends. She might also be interested in fashion accessories, clothing fabrics, and the like. Hence, by providing such information in an interesting and engaging way, it will stay closely connected to the brand. Not only will this influence their buying decision, but they will also act as the brand’s ambassador by liking, sharing, and commenting on the content posted by the company. Another smart example is a company that uses jaggery in their baked goods. Rather than directly asking customers to buy their products, this company talks about the health benefits of jaggery versus sugar.
In e-mail marketing, too, various studies and investigations have shown that e-mails with the name of a customer are more likely to be opened than e-mails that address them with “Dear customer”. Modern CRM software can send personalized emails to thousands of customers at once. Businesses use these types of utilities to make their customers feel special and to personalize the communication.
Modern consumers are spoiled for choice. Numerous brands are fighting for their attention. Not only local, but also international brands compete against each other. A well-defined and thought-out content strategy can make a huge difference to any business. Not only will it add brand equity to the company, but it will also attract new customers while retaining older customers.