{"id":264670,"date":"2024-07-03T08:52:50","date_gmt":"2024-07-03T08:52:50","guid":{"rendered":"https:\/\/imarticus.org\/blog\/?p=264670"},"modified":"2024-07-25T11:01:17","modified_gmt":"2024-07-25T11:01:17","slug":"mastering-marketing-strategy","status":"publish","type":"post","link":"https:\/\/imarticus.org\/blog\/mastering-marketing-strategy\/","title":{"rendered":"Mastering Marketing Strategy: Developing a Customer-Centric Approach"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">A meaningful <\/span><span style=\"font-weight: 400;\">marketing strategy<\/span><span style=\"font-weight: 400;\"> must follow the manufacturing of a product. Earlier when competition was not that fierce, the manufacturers adopted the push-sale method as a standard strategy to increase revenue. The needs of the customer were not taken seriously.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, today\u2019s world has changed drastically. There are many manufacturers for a similar product and each one is vying to carve out a reasonable market share for them. Thus, traditional business decisions have made their way for a more customer-centric and rational approach.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Subsequently, the management has learnt to develop and hone<\/span><span style=\"font-weight: 400;\"> leadership skills<\/span><span style=\"font-weight: 400;\"> for long-term sustainability. The new method researches customer feedback and analyses their expectation and wish lists. The sole purpose of this activity is to render proactive and value-added services to increase market share.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Customer-Centric approach<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The customer-centric approach in <\/span><span style=\"font-weight: 400;\">marketing strategy<\/span><span style=\"font-weight: 400;\"> is a scientific, measurable and result-oriented approach towards business that prioritises client needs and emotions and adjusts operational activities accordingly. This modern-day business thinking increases both revenue and profitability for a business house.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Challenges to Customer-Centric Approach<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Shifting from the age-old traditional marketing practices to the modern age customer-centric strategies comes with its own set of challenges. In this section let us discuss the most common roadblocks faced by organisations in the transformation process \u2013<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Working in siloes\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Due to a lack of proper guidance and\/or leadership skills, departments often work in silos. This unwarranted isolation results in poor teamwork and affects inter-department communication. Thus, important business-related points are disregarded. Some of the typical examples of silo-based working are as follows \u2013<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The marketing team sometimes make the error of focusing on business prospects without inputs from the product or service team.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The product team sometimes skip sharing the latest or updated information with the marketing or sales team.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The operation team may choose delivery timelines as the main mantra, ignoring valuable customer inputs\/complaints.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">These process gaps may be bridged through practical training sessions and upon developing <\/span><span style=\"font-weight: 400;\">leadership skills<\/span><span style=\"font-weight: 400;\">.\u00a0\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Lack of transparent communication\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Transparent, meaningful and timely communication can always help build up a robust customer relationship. However, confusion, lack of complete information and hesitation sometimes prove to be roadblocks.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Technical complexity\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Technology solutions are at times complex and may generate frustration among clients. Proper training and handholding are required to tackle this situation.\u00a0\u00a0\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Different Types of Customer-Centric Strategies\u00a0<\/span><\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-265019 size-large\" src=\"https:\/\/imarticus.org\/blog\/wp-content\/uploads\/2024\/07\/Types-of-Customer-Centric-Strategies--1024x576.jpg\" alt=\"Types of Customer-Centric Strategies\u00a0\" width=\"1024\" height=\"576\" srcset=\"https:\/\/imarticus.org\/blog\/wp-content\/uploads\/2024\/07\/Types-of-Customer-Centric-Strategies--1024x576.jpg 1024w, https:\/\/imarticus.org\/blog\/wp-content\/uploads\/2024\/07\/Types-of-Customer-Centric-Strategies--300x169.jpg 300w, https:\/\/imarticus.org\/blog\/wp-content\/uploads\/2024\/07\/Types-of-Customer-Centric-Strategies--768x432.jpg 768w, https:\/\/imarticus.org\/blog\/wp-content\/uploads\/2024\/07\/Types-of-Customer-Centric-Strategies-.jpg 1344w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">There are quite a few customer-oriented strategies which are doable, measurable and give positive results. A proper methodology backed up by strong marketing strategy and <\/span><span style=\"font-weight: 400;\">leadership skills<\/span><span style=\"font-weight: 400;\"> can make a difference. Teamwork is the basic essence of success.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The best strategies are as follows \u2013<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Understanding client needs\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">A business house must understand its customer\u2019s needs. Products or services should be tailor-made according to those requirements. This in turn would increase customer loyalty.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Create a client master\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">In line with how a bank asks for KYC, a business house also must create a customer data bank and update it with all the minute details.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Be customer experts\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Assessing customer\u2019s minds is an important <\/span><span style=\"font-weight: 400;\">marketing strategy<\/span><span style=\"font-weight: 400;\">. Organisations must have dedicated key account managers to handle and focus on key customers. The sole purpose is to act proactively in case of any upcoming changes in client requirements.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Identify Key Clients\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">As a good practice in <\/span><span style=\"font-weight: 400;\">marketing strategy<\/span><span style=\"font-weight: 400;\">, it is required to identify key clients, who contribute substantially to the growth of the organisation. Such customers must be nurtured with care. They should be made feel special.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Email marketing\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">It is a brilliant idea to keep in constant touch with clients. Physical meetings are not possible always. As an alternative, communication through emails may be thoroughly explored. Emails should be informative about new products and must also address service-related issues with equal promptness.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Divide and conquer\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Jobs must be outsourced to reliable vendors when the maximum capacity of the organisation is reached. However, it is important to control the vendor in terms of quality and timeliness. Thus, here the marketing strategy is to divide the job within departments and vendors and conquer client satisfaction. Organisational <\/span><span style=\"font-weight: 400;\">leadership skills<\/span><span style=\"font-weight: 400;\"> can make it a reality.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Personalised communication\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Personalised emails work much better than general group emails. This makes the client feel important. They also respond to such communication positively.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Brand promotion via blogs and website\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">In today\u2019s digital world, promotion blogs and product or service awareness videos are commonly used <\/span><span style=\"font-weight: 400;\">marketing strategies<\/span><span style=\"font-weight: 400;\">. Tech-savvy clients can get the latest updates at their fingertips. An updated user-friendly optimised website is also a key requirement for a business house to grow.\u00a0\u00a0\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Audience attention\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Paying heed to reviews and online comments enhances client centricity. Asking questions to the <a href=\"https:\/\/blog.hubspot.com\/marketing\/target-audience\"><strong>target audience<\/strong><\/a> also helps in value addition.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Ethical practice and privacy\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">An organisation should maintain ethical practices, in in-line with the best business policies and laws of the land. Client data should be protected at all costs and hence privacy is a concern. Organisations must have multi-layered cyber security data protection.\u00a0\u00a0\u00a0\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">\u00a0Measure and improve\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">All action plans are measurable to pursue excellence. Key performance indicators (KPIs) are to be established for client-centric initiatives. Working out on metrics like CSAT (customer satisfaction scores) and NMPS (net promoter scores) will help the organisation to improve and grow.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Read more about <\/span><a href=\"https:\/\/imarticus.org\/blog\/growth-hacking-for-2022-10-simple-must-use-seo-tactics-to-power-your-business\/\"><span style=\"font-weight: 400;\">Growth Hacking tips<\/span><\/a><span style=\"font-weight: 400;\">\u00a0to power and improve your business tactics.<\/span><\/p>\n<p>&nbsp;<\/p>\n<h2><span style=\"font-weight: 400;\">Benefits of Customer-Centric Approach<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The business house can stay prosperous if its clients are satisfied. Customer-centric approach fosters business growth besides bringing customer delight. The benefits achieved thereof are as follows \u2013<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Build client relationships<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">With consistent value-added products or services, client loyalty is achieved. Efficient <\/span><span style=\"font-weight: 400;\">leadership skills<\/span><span style=\"font-weight: 400;\"> lead to smarter business relationships.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Increase revenue<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Happy customers do not mind paying premiums on repeat orders. Thus, revenue increases.\u00a0\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Reduce costs\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Marketing expenses for survey and trial processes are reduced following customer-centric policies. Product and service reviews also reduce marketing costs.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Increased profitability<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Profitability increases as cost reduces.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Better client retention\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Delighted customers stay associated for a longer period. Client retention is a qualitative index for measuring business success.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Better competitive edge\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Client-centric marketing always has an advantage over traditional marketing processes.\u00a0\u00a0\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">Leadership Skills<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Leadership skills<\/span><span style=\"font-weight: 400;\"> refer to some core strengths within individuals who form an integral part of an organisation\u2019s management. People with<\/span><span style=\"font-weight: 400;\"> leadership skills<\/span><span style=\"font-weight: 400;\"> can make result-oriented decisions and motivate their team members to implement through hierarchy. Top <\/span><span style=\"font-weight: 400;\">leadership skills examples<\/span><span style=\"font-weight: 400;\"> are as follows &#8211;\u00a0\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Clear and crisp communication\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">This is one of the best <\/span><span style=\"font-weight: 400;\">leadership skills examples<\/span><span style=\"font-weight: 400;\">. Effective verbal and written communication from leaders creates a road map for employees.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Recognising potential\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Leaders should be able to recognise prospects \u2013 both for business and internal resources.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Strategic and critical thinking<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">One of the most important <\/span><span style=\"font-weight: 400;\">leadership skills examples<\/span><span style=\"font-weight: 400;\"> is to devise a proven result-oriented business strategy. Leaders must possess critical thinking ability.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Prioritising and time management\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Leaders must be good time managers. Thus, picking up jobs with priorities is among the key <\/span><span style=\"font-weight: 400;\">leadership skills<\/span><span style=\"font-weight: 400;\">.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Risk-taking appetite\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Management demonstrates <\/span><span style=\"font-weight: 400;\">leadership skills<\/span><span style=\"font-weight: 400;\"> by taking calculated risks for prosperity and growth.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Creativity, positivity and flexibility\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Leaders should have creative business solutions. They must take challenges positively and be flexible in their approach.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Feedback seeking and conflict resolution\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Leaders should be employee-oriented. They must consider feedback from all concerned for conflict resolution.\u00a0<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Mentorship and dependability\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Leaders should be mentors to employees. They are dependable for ultimate organisation goals.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Delegation\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">One of the key <\/span><span style=\"font-weight: 400;\">leadership skills examples<\/span><span style=\"font-weight: 400;\"> is the delegation of duties and authority to deserving employees.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Team building\u00a0<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Team building must be a natural habit of a leader.<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">CMO Program<\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Nowadays, an organisation\u2019s success is synonymous with the quality of leadership its management showcases. The <a href=\"https:\/\/imarticus.org\/chief-marketing-officer-specialisation-gslp-iim-lucknow\/\"><strong>Chief Marketing Officer program<\/strong><\/a>, abbreviated as the <\/span><span style=\"font-weight: 400;\">CMO program<\/span><span style=\"font-weight: 400;\"> is an essential curriculum for all future leaders, pursuing marketing as their subject.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Several great institutions and established organisations have come up with their own <\/span><span style=\"font-weight: 400;\">CMO program<\/span><span style=\"font-weight: 400;\">. The program delves into extensive research and modern trends in marketing. It creates unique development opportunities for leaders.<\/span><\/p>\n<h4><span style=\"font-weight: 400;\">Conclusion\u00a0<\/span><\/h4>\n<p><span style=\"font-weight: 400;\">Nowadays true market leaders must be multifaceted, technology and powerful brand ambassadors. They must be customer-centric, excellent narrators of success stories and growth drivers. The <\/span><a href=\"https:\/\/imarticus.org\/chief-marketing-officer-specialisation-gslp-iim-lucknow\/\"><strong>CMO program<\/strong><\/a><span style=\"font-weight: 400;\"> ensures leadership skills for future leaders.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The <\/span><span style=\"font-weight: 400;\">Global Senior Leadership Programme Specialisation: Chief Marketing Officer<\/span><span style=\"font-weight: 400;\"> by Imarticus will give prospective candidates massive growth at the beginning of their careers. The duration of the course is 6 months.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Visit the official website of <\/span><a href=\"https:\/\/imarticus.org\/\"><span style=\"font-weight: 400;\">Imarticus<\/span><\/a><span style=\"font-weight: 400;\"> for more details.\u00a0<\/span><\/p>\n<h2><span style=\"font-weight: 400;\">FAQs<\/span><\/h2>\n<ul>\n<li aria-level=\"1\"><b>What are KPIs?<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">KPIs refer to Key Performance Indicators that are established to measure the level of excellence achieved.\u00a0<\/span><b><\/b><\/p>\n<ul>\n<li aria-level=\"1\"><b>Why is developing a proper website an important customer-centric marketing strategy?<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">An updated user-friendly optimised website is very important as customers can get the updates at their fingertips.<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>What are the two most important customer-centric approaches in marketing strategies?<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Understanding the needs of the customers and creating a client master are the two most important customer-centric approaches in marketing strategies.\u00a0<\/span><\/p>\n<ul>\n<li aria-level=\"1\"><b>What are the two main KPIs?<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">KPIs like CSAT (customer satisfaction scores) and NMPS (net promoter scores) will help the organisation to improve and grow.<\/span><br \/>\n<script type=\"application\/ld+json\">\n{\n  \"@context\": \"https:\/\/schema.org\",\n  \"@type\": \"FAQPage\",\n  \"mainEntity\": [{\n    \"@type\": \"Question\",\n    \"name\": \"What are KPIs?\",\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"KPIs refer to Key Performance Indicators that are established to measure the level of excellence achieved.\"\n    }\n  },{\n    \"@type\": \"Question\",\n    \"name\": \"Why is developing a proper website an important customer-centric marketing strategy?\",\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"An updated user-friendly optimised website is very important as customers can get the updates at their fingertips.\"\n    }\n  },{\n    \"@type\": \"Question\",\n    \"name\": \"What are the two most important customer-centric approaches in marketing strategies?\",\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"Understanding the needs of the customers and creating a client master are the two most important customer-centric approaches in marketing strategies.\"\n    }\n  },{\n    \"@type\": \"Question\",\n    \"name\": \"What are the two main KPIs?\",\n    \"acceptedAnswer\": {\n      \"@type\": \"Answer\",\n      \"text\": \"KPIs like CSAT (customer satisfaction scores) and NMPS (net promoter scores) will help the organisation to improve and grow.\"\n    }\n  }]\n}\n<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A meaningful marketing strategy must follow the manufacturing of a product. Earlier when competition was not that fierce, the manufacturers adopted the push-sale method as a standard strategy to increase revenue. The needs of the customer were not taken seriously. However, today\u2019s world has changed drastically. There are many manufacturers for a similar product and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":265018,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_mo_disable_npp":"","_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[2024],"tags":[],"class_list":["post-264670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-marketing"],"acf":[],"aioseo_notices":[],"modified_by":"Imarticus Learning","_links":{"self":[{"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/posts\/264670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/comments?post=264670"}],"version-history":[{"count":4,"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/posts\/264670\/revisions"}],"predecessor-version":[{"id":265316,"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/posts\/264670\/revisions\/265316"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/media\/265018"}],"wp:attachment":[{"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/media?parent=264670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/categories?post=264670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/imarticus.org\/blog\/wp-json\/wp\/v2\/tags?post=264670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}