As technology continues to evolve, so does the way in which businesses communicate with their target audiences. Traditional marketing messages are no longer adequate, as customers today seek meaningful and personalized experiences. This is where product-centric and customer-centric marketing come into play.
The difference between customer and product centric marketing
Product-centric marketing focuses on the features and benefits of a product or service. The goal is to showcase the advantages of the product in order to attract prospective customers. Such marketing messages often include technical details and jargon in order to demonstrate the superiority of the product.
On the other hand, customer-centric marketing is built around the customer, not the product. Rather than showcasing the features of the product, it seeks to understand customer preferences, values, and needs and create a tailored message that appeals to them. This approach places the customer at the center of the message rather than the product, and emphasizes how it can help meet customer needs.
The primary difference between the two approaches is the emphasis placed on the product or customer. Product-centric marketing focuses on the features of the product, while customer-centric marketing focuses on the customer.
While product-centric marketing is still useful and necessary for pushing product messages, customer-centric marketing is becoming increasingly important as customers are looking for personalized experiences and more meaningful engagement. By understanding your customers’ needs, values, and preferences, you can create thoughtful, personalized messages that will stand out among competitors and make an impression on customers.
Customer centric approaches to marketing
Customer centric approaches to marketing are becoming increasingly important as businesses look to keep up with the ever-evolving needs of their customers. By putting the customer at the center of their marketing strategy, businesses can benefit from increased customer loyalty, satisfaction, and lifetime value.
Customer service
Customer service is one of the most important elements of customer-centric marketing. A positive customer experience builds customer satisfaction, customer loyalty, and encourages customers to recommend your product or service to others. Furthermore, offering superior customer support, personalized online assistance, and a simple customer feedback system are all key pieces of a strong customer-centric marketing approach.
Customer journey
An effective customer journey is also critical to customer-centric marketing. User experience is an important part of a customer’s journey, ensuring the customer moves smoothly from awareness to purchase and loyalty. An effective journey map highlights the customer’s touches with your business, from learning about the company and product/service in the pre-purchase stage to receiving support after the purchase in the post-purchase stage.
Customer lifetime value
A customer centric company is also focused on maximizing customer lifetime value. This means focusing on long-term customer relationships, by understanding how customer loyalty and satisfaction is affected by their interactions with the company. Loyal customers who have been with the company for a long time are more likely to recommend the brand to others, providing a valuable source of word-of-mouth marketing.
Product centric approaches
Product development has been a cornerstone of successful marketing strategies for years, but in a product-centric company, product development is becoming the primary focus for teams.
A product-centric company is one that puts the products and services it offers front and center. This means that rather than relying on a traditional marketing approach that focuses mainly on advertising and promotion, this type of organization instead focuses on design, usability, customer experience, and service.
In order to effectively market from a product-centric perspective, organizations must identify their target customers and understand their needs and wants. At the same time, they must also develop a product that is designed to meet those needs and desires. A key aspect of the product-centric approach is understanding how the end user will interact with the product and ensuring that the user experience is an enjoyable one.
The product-centric approach to marketing also requires companies to fully maintain their products in order to remain competitive. This involves understanding how users may experience the product differently over time and making adjustments to fit their needs. Additionally, product-centric companies must continuously work on improving their products and creating new and innovative offerings to meet customer needs.
How to decide between a product centric or customer centric strategy
1. Company focus
First and foremost, you must evaluate which direction you think your company wants to take. Because product-centric marketing emphasizes the product itself, it works well if you want to show the benefits of the product and what sets it apart from the competition.
Because customer-centric focuses on the customer and how your product can make their life better, you’ll want to think about how your company should be represented and make the right decision for your brand.
2. Target market
You also need to consider your target market when choosing between the two strategies. Shifting the focus to the customer can be beneficial in certain markets. For example, if you’re targeting a certain age group or lifestyle, you can more effectively reach them by leading with the customer.
3. Audience engagement
When deciding between product and customer centric marketing, you should also look at the audience engagement rate. If your product has a lot of features, it can be beneficial to focus on the product in order to keep the customer engaged. If your target audience is more interested in personal connections, then focusing on the customer’s needs can be a great way to increase engagement.
4. Content strategy
The type of content you produce and the platforms you use to share it will depend on whether you’re using product or customer centric marketing. With product-centric marketing, the focus should be on the product – so your content should be product-oriented, visually-driven, and informative. With customer-centric marketing, the focus should be on the customer, so your content should be customer-focused, engaging, and informal.
5. Budget
Finally, consider the budget at your disposal. Product-centric marketing can be expensive because it usually involves creating high-quality visuals, videos, and other collateral to showcase the product. Customer-centric marketing, however, is typically much cheaper because it relies on relationships and personal connections instead of flashy visuals.
Iris Marketing Team
Take your digital marketing to the next level with Iris! Our expert team will provide you with the tools you need to reach your goals and stay ahead of the competition. Contact us today to find out how we can help you build an effective digital marketing strategy for your business or website. Don’t wait any longer – claim your digital future now!