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How are you connecting with your customers?

Just because the past didn’t turn out like you wanted it to, doesn’t mean the future can’t be better than you ever imagined.

Don’t rush in calling up your clients and push-sell your product or service. Apply this strategy to successfully turn them into active and loyal customers.

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Sounds Interesting right? Read on!

Your customers drive your business, which is why it’s so important to note how they interact with your brand. Don’t just reach out to them when you want their business; find ways to continuously connect with and show them that you care.

Here are 5 effective ways to connect with your customers and build lasting relationships that can keep them loyal to your brand.
  1. Don’t use one size fits all strategy – Customizing your user interactions improves relevance and authenticity. Do not group all your customers as one category but rather understand their perceptions and communicate accordingly
  2. Go above and beyond – Going above and beyond for customers can increase their perception and loyalty to your business. Offer special discounts for customer loyalty, recommend specific products based on what you know about customer’s interests, and always remedy an unpleasant experience.
  3. Follow up – Following up with customers communicates to them that they matter, and it helps you identify poor customer experiences.
  4. Use social media as your strength – Create social media accounts on the platforms where your customers are. Respond quickly to questions and concerns that come in from customers through these channels.
  5. Survey your customers – A very important step of the process is surveying your customers as this helps you gain insights about your customers and helps improve your offerings. This can result in higher sales, which means more money in your pocket.
Simple, right?

You can gain value based insights about how your customers react to your ways of communication and much more!

Contact us for your research queries.

What do your employees really think about engagement surveys?

Studies show that one of the most effective ways to receive honest and candid employee feedback is through an employee engagement survey. Our surveys ensure 100% confidentiality while providing leaders with actionable insights about the organizations strengths and weaknesses.

It’s easy to see why leaders invest in the employee engagement survey process, but what do employees think?

With an experience of more than 100+ surveys analysis in the course of the years and found out some employees love the process, but at the same time some of them feel it’s a complete waste of time.

But why is that? Shouldn’t all employees value a process that is designed to make their opinions be heard and ultimately improve their work experience?

Well here is what the “I love employee engagement survey” category of people feel.

When an organization carries out an employee survey, It gives the employee a voice to express. It shows that the opinion of the employees is valued. The key now is to follow up and act on the opinions and feedback received with the help of the survey.

And now let’s see what “I hate employee engagement survey” category of people feel.

When organizations survey and leave the results to wither on the vine, employees actually become more disengaged, defeating the purpose of surveying entirely. Organizations must carefully consider employee feedback, address it, and communicate what changes were made based on the survey results. Which is why follow up after carrying out a survey is very important.

Want to effectively conduct an employee engagement survey?

Get in touch with us! We are just a phone call away.

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A study to understand the impact of COVID-19 on consumer mindset

We are observing – Unexpected lockdown, the concern of increasing Covid-19 cases on a continuous basis, the confusion created due to process of extended lockdown and partial unlocking procedures, the concern of self & family health, sense of instability, fear of job security, financial security, economic slowdown – these and many such are the outcome of the current Covid-19 pandemic.  

Consumers are experiencing lots of such ups and downs in this pandemic and getting adjusted to New normal life. Market Search India have recently conducted a consumer sentiment study among 500+ respondents across India and have come up with quite interesting findings.

Few insights are as below:-

  • Consumers are stepping out only for essential products currently make prefer to buy other products online
  • They are willing to start in-store purchase for food & grocery immediately post lockdown but purchases of other non-essential products would be done at in-store only after 3-6 months. Whereas high-value purchases (jewelry, car, consumer durables), would get extended to beyond 6 months or 1 year.
  • Very few consumers are quite optimistic about India’s GDP over the next 1 year.
  • Consumers find that there would be a severe increase in the unemployment rate for the next 1 year.  This is been felt by all consumers having/ not having insecurity about their current employment.
  • Also currently unemployed consumers find there are less chances of getting a new job in the next 6 months.
  • Employed consumers find it is less likely to get a good bonus/ raise this year and also income would decrease in the next 1-3 months.
  • Consumers with no income change would not have any change in a financial investment except for loans where they would not invest.
  • Consumers with an expected increase in income level and with no change in income level would increase their savings.
  • Consumers with an expected decrease in income would reduce their expenses on most non- essential product purchases in the next 6-12 months.
  • Though consumers find they would resume their normal day-to-day routine in the next 9 months, they would be curtailed down on their out of home activities.

Impact on expenditure level on different Product categories in near future:-

Impact on expenditure level on different Product categories in near future
Impact on expenditure level on different Product categories in near future

There are a lot many more observations that we have received as insights from the study.

We can conduct similar consumer sentiment or consumer confidence study across product segments. These deeper insights would help companies to take strategic decisions, plan marketing activities, design promotional campaigns as per the changing buying behaviour of the consumers.

Contact us if you would like to explore the dynamics of your consumer mind-set, we would be happy to help you.

Visit our website: www.maket-search.com to check for other research studies

Watch our key services offered: https://youtu.be/LcpIl6HW0EQ

How marketers should react on changing marketing scenarios?

In each downturn advertisers wind up in ineffectively outlined waters on the grounds that no two downturns are actually similar. We’ve recognized patterns in buyers behavior and firms  procedures that either drive or subvert performance. Organizations need to comprehend the advancing utilization patterns and adjust their procedures according.

During a monetary downfall, buyers set stricter needs and reduce their spending. As deals begin to drop, organizations ordinarily cut expenses, reduce costs, and delay new ventures. Marketing expenditures in areas from communications to research are often slashed across the board—but such indiscriminate cost cutting is a mistake.

Companies that put customer needs under the microscope, take a scalpel rather than a cleaver to the marketing budget, and nimbly adjust strategies, tactics, and product offerings in response to shifting demand are more likely than others to flourish both during and after the downfall/recession.

It’s basic to follow how clients reconsider needs, reallocate funds, switch brands, and redefine value.

Understanding the connection between the economy and promoting can help entrepreneurs assign their advertising assets and react to changes in the recession atmosphere.

Underneath indicated is a network that clarifies the conduct change in the purchasers.

Behavior change

Your strategic opportunities during the downturn will strongly depend on which of the four segments your core customers belong to and how they categorize your products or services.

For example….

  • Prospects are reasonably good for value-brand essentials sold to slam-on-the-brakes consumers, who will forgo premium brands in favor of lower prices.
  • Value brands can also effectively reach out to pained-but-patient consumers who previously bought higher-end brands.
  • Value brands have opportunities with postponable products, as well.
  • Repair services can market to the pained-but-patient group, who will try to prolong the life of a refrigerator rather than buy a new one.

Men like fat in their food more than women

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The Indian Council of Medical Research (ICMR) survey revealed that men consume more fat at 34.1 gram per person daily, than women who consume 31.1 gram per day across the seven cities – Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata and Mumbai.

Added fat was high in dishes such as dal fry, rice, stuffed paratha, chuduva, bisi bele bath – a rice-based dish with origins in Karnataka — and puliyodharai also known as tamarind rice. Mutton Birynai has more fat than chicken biryani or cereal-based and non-vegetarian recipes, it found.

According to the study, those who eat deep-fried food consumed more added fat than those who ate boiled and shallow-fried food.

Also, almost all non-vegetarian foods, mostly consumed in urban areas, has high amounts of added fat, the study revealed.

The average intake of added fat in Mumbai and Hyderabad were the lowest at 28.8 gram per person daily and 25.1 gram per person each day respectively.

The average intake of added fat in all the seven metro cities pooled together was 32.6 gram per person each day, which was higher than ICMR-recommended levels at 20g/person/day. Overall, 18 per cent of the total intake of energy was obtained from visible fat, the survey found.

 

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AI will diversify human thinking, not replace it: Tata Communications study

According to the study, 90% leaders agreed that cognitive diversity is important for management and 93% believe AI will enhance decision making.

A new study by Tata Communications on the impact of artificial intelligence (AI) in the workplace finds that AI will diversify human thinking, rather than replace it. Carried out in collaboration with UC Berkeley professor Ken Goldberg, the study is based on inputs from 120 global business leaders like Tony Blair, Executive Chair of the Institute of Global Change and former UK Prime Minister, who said that “AI will allow us to do what it is that we are uniquely meant to do: focus on high-level thinking, strategy, and paving the way for innovation.”

According to the study, 90% leaders agreed that cognitive diversity is important for management and 93% believe AI will enhance decision making. Three out of four expect AI to create new roles for their employees.

Ken Goldberg, UC Berkeley professor and co-author of the report, said “The prevalent narrative around AI has focussed on a ‘Singularity’ – a hypothetical time when artificial intelligence will surpass humans. But there is a growing interest in ‘Multiplicity’, where AI helps groups of machines and humans collaborate to innovate and solve problems. This survey of leading executives reveals that Multiplicity, the positive and inclusive vision of AI, is gaining traction.”

The study further found that AI could enhance cognitive diversity within groups, which could yield better outputs, while helping employees become more nimble and agile.

Co-author Vinod Kumar, CEO and Managing Director at Tata Communications, said, “AI is now being viewed as a new category of intelligence that can complement existing categories of emotional, social, spatial, and creative intelligence. What is transformational about Multiplicity is that it can enhance cognitive diversity, combining categories of intelligence in new ways to benefit all workers and businesses.”


Source : https://cio.economictimes.indiatimes.com/news/strategy-and-management/ai-will-diversify-human-thinking-not-replace-it-tata-communications-study/65700606

Hotels Turn App Friendly

All hotels from luxury such as The Taj and The Marriott to budget properties like The Ginger are introducing mobile apps to lure patrons.

In the age of technology mobiles are proving smart companions. And to be in the race luxury and budget hotels are coming up with different apps to help their guests. The Gateway Hotel Fatehabad Road Agra has launched a mobile app called iTajGateway in association with iTravelApps to help guests in hotel bookings. It combines details about the hotel along with the destination such as audio tours of three monuments in Agra including the Taj Mahal and navigation maps for assistance such as the Delhi to Agra map as well as offline maps of Agra city. Siddharth Verma, founder of iTravelApps says, “The new age traveller is looking for ways to engage with brands and destinations. This app helps travelers create their own experience with all the information needed at fingertips.” Continue reading Hotels Turn App Friendly