Use Innovation to Strengthen Customer Relationships
According to this article posted on CMO.com, there are four ways big brands can innovate and compete like mobile startups. Those four are:
- Leverage innovation in your existing products and services
- Prepare your enterprise to take action
- Secure C-level sponsorship and funding
- Connect everything to the customer relationship
We will just talk about the fourth one, because that’s most important to us.
The author of this article goes deeper into each point. This is what he says about the fourth one:
Mobile and IoT technologies are powerful because they allow you to tap into a recurring relationship with the customer that wasn’t possible before. That’s the whole point as marketers: building a deeper relationship with the customer that goes beyond a purchase transaction. As trust and loyalty grows through your customer-centric mobile apps and IoT products, so do your opportunities for branding and awareness.
For example, Ford is building a relationship where a relationship was not even possible before. With a mobile app for its electric cars, Ford is fostering brand loyalty. These “connected cars” communicate with the app, allowing users to control charging remotely, find nearby charging stations, and more. This new and highly valuable experience is engaging Ford customers much more frequently than they were able to before.
Brand innovation is only valuable when it strengthens the brand’s relationship with its customers. Fortunately, big brands have the key to success: customer data.
Using customer data is important for big brands to be able to innovate more successfully than startups. By truly understanding their customers, brands can use technology to create amazing products and services that their customers will immediately understand and buy. This will not only serve to strengthen their relationship with their customers, but it will also open the brand up to more customers.