Saturday, 19 June 2021 : Local To Global News

Stay close to the customer

Marketing is not only about acquiring new customers. It’s also about retaining your existing customers. Staying close to your customer is the key to attain success in the market.
The question now arises that how a company can stay close to its customers and always be personally relevant to them.
The strategy of “Think global, act local” says it all in just one line.
In marketing context, it implies that even though you are a Global, Multinational Corporation but you should frame your company’s Marketing Mix as per the needs of the local customers. For instance, Nokia in India imbibed this concept very effectively and witnessed huge profits. It launched mobile handsets having the feature of Hindi and other major Indian languages. It also pioneered the feature of torch light in handsets for the convenience of rural customers who frequently faced the problem of power failures at night.
This action of Nokia gave the Indian customers a feeling of personal bond & attachment with Nokia and they felt that though Nokia was a huge Multinational giant but it was extremely close and personally relevant to the Indian customers.
Other global companies such as Samsung, Nike and Coke etc have implemented this strategy to leverage the market potential.
It is also important because you don’t have to sell your product only once. The customer should go for repurchase of your company’s products and it is possible only when he is satisfied with the performance of the product.
Staying close to the customers also helps you as a company in other indirect ways. A satisfied customer spreads positive word of mouth for your company which in turn leads to increase in your customer count. On the other hand, a dissatisfied customer spreads negative word of mouth for your company which prevents the potential customers from his reference groups to buy your company’s products.
Therefore, it is apparent that in order to grow your consumer base, it’s necessary to stay close and in touch with the customers & provide an excellent after sales support.