The most difficult part about the startups which are intending to build a scalable business is to set a marketing plan in place so that the early adopters can be adopted at scale. The singular most factor for making or breaking the startups lies in gaining traction with the customers. We are entering into a future that is unpredictable and there are no guaranteed trends. So, in order to mitigate the susceptibility that gets built around this extreme volatility in the market, we must have evolving marketing strategies built around transience.
The markets are expanding at a tremendous pace and we are seeing more startups now, than when these trends got started. This means that your startup must hold that extra competitive edge over the others.
In order to be successful in the startup space, we need to know how the marketing landscape is changing and what are the marketing strategies for the best among the companies. Not only this, we need to understand that the psychological heuristics which is held for millions of years, let the brain interpret the stimulus and brand marketing achievable in a constant way. Here are the marketing trends marketing trends adopted for your startups in 2018.
Marketing Trends Adopted for Your Startups in 2020
Customer satisfaction comes when there is the fulfillment of the biological needs of material, physiological and social types. The moment the brands do not satisfy these needs, the consumer anxiety increases. The companies need to comprehend this quite quickly and make it sure that the consumers will favorably evaluate the brand.
So, the benefits for the companies is in delivering value, that too at a fast rate. Other than value importance is attached to information too. The strategies adopted by these companies for customer satisfaction includes instant communication channels, downloadable resources, and transparent product information. Customers have more trust in the buying process when they have instant feedbacks from the customers.
Since 2015, we have seen a rise in on-demand economies. The on-demand economies are more efficient and more technologically advanced. They are trying to emerge as disruptive options to verticals, delivering the products and services to the customers, at a faster rate, We still see companies like Deliveroo, Uber, and Airbnb making entries in this space. Yet again there are other examples of AirTasker and Trov. That these companies are still entering the space is enough reason to believe that instant customer satisfaction is still useful.
Customization of Customers
We always pay attention to such details which are of utmost relevance to us. We talk in terms of personalization as that helps to establish the bondage between the customer and the brand, as it appeals to our self-identity.
The emotional and time investment from the customers is increased by the customized product. The consumers are ensured with a unique product for themselves as the products include a selection of designable aesthetics, add-ons, and optional features. The psychology remains the same irrespective of the whether the companies are in social networking, retail or software.
Customization is a big trend and it is gaining traction. It is the retail startups which have got the market pulse and created unique products for itself. The consumers are given creative autonomy. As a result of these, we see companies from Australia printing their own surfboards at Disrupt Surfing and designing their own shoes at Shoes of Prey.
There is a term in consumer psychology that is “least cognitive effort”. This leads to automation bias and leaves an impact on the products that we are keen on using. The cognitive load of the customer’s mind is reduced considerably by the improved efficiency of the customers as this leaves an impression on the subconscious mind of the customer.
These companies must take every initiative to make their products which follow the cognitive bandwidth and saves time. They must make it sure to show the customers that their products are for making the lives of the customer much easier. Improved efficiency must be pitted as a core competitive advantage.
The emerging technologies of AI and machine learning allow to automate more intelligently and in the process improves the efficiency. The companies which will be investing in this technology will have better benefits from the larger companies behind this trend. Flamingo is one such example on this increasing trend for 2018.
Newer and inventive strategies are often replacing the older methods that were adopted so far. Market transience is now a reality for the technology industry. There is unpredictability in the market and the startups need to invest in something more constant that is consumer psychology.