In recent years, there has been a notable shift in consumer behaviour and preferences. Customers have transitioned from simply purchasing products or services to a more nuanced consideration of supporting companies that align with their personal goals and aspirations.
The link between consumer values and brand purpose has significantly grown in the last decade and altered the marketing landscape. This shift has led to the emergence of new marketing strategies and a re-evaluation of traditional approaches as companies strive to connect with their customers on a deeper and more meaningful level.
While the quality of product or service remains paramount, customers are increasingly using their money to effect the change they want to see. According to a 2023 Deloitte report ‘Buying into Better: Shaping tomorrow’s consumer today’, customers are buying into better by choosing brands that align with their values and needs. Additionally, customers are demanding that companies demonstrate an unwavering commitment to purpose, trust, transparency and innovation.
Firms and marketers who want to succeed in this new era must therefore move from transactional customer interactions to create immersive brand experiences.
Emotional connections are the bedrock of lasting relationships. Companies that are centred on empathy and a genuine desire to enhance the lives of their customers will not only secure brand loyalty but also establish relationships that stand the test of time.
One way that companies can foster connections is by harnessing the power of data-driven insights to understand individual preferences, behaviours and needs. Data-driven insights will not only fuel innovation in product development but also enable companies to develop and deploy campaigns that resonate with their target audience. Additionally, leveraging data insights will deliver relevant and meaningful experiences that build a sense of trust as customers feel understood and valued.
For instance, Jubilee Health Insurance provides new mums with a complimentary ride home after delivery to ensure they feel genuinely cared for.
This thoughtful gesture goes beyond the traditional realms of health coverage, showcasing an understanding of the unique needs and challenges that come with the postpartum period.
By anticipating and addressing the customer’s practical needs, this initiative is enabling our company to create an emotional bond that transcends mere transactions.
Secondly, brands can create emotional connections with their various stakeholders by playing a positive role in society. Research shows that reducing environmental harm and standing up for social issues are two of the main expectations consumers have of the businesses they buy from.
Addressing pressing societal challenges will demonstrate a brand’s commitment to something beyond profit while resonating with socially conscious consumers. Companies that desire enduring success must ensure authenticity in their corporate social responsibility (CSR) activities. Such initiatives must be centred on a company’s commitment to make a positive impact on social and environmental issues.
Our company has reaped the benefits of deploying CSR strategies that enable our stakeholders to address various health challenges.
Last year, Jubilee Health Insurance deployed the Afya Mashinani Initiative that provided underserved communities with access to free health education and quality healthcare services. This initiative offered medical consultations, screenings and other necessary healthcare support to over 10,000 residents in Nakuru and Naivasha.
The recognition of this initiative by the Marketing Society of Kenya as the 2023 Best Brand PR Campaign is a seal of approval and a demonstration of the impact of authentic CSR activities.
As we embark on the new year, I would like to urge my fellow marketers to continue to craft campaigns that fundamentally redefine our consumers' lives while demonstrating tangible returns on our investments. Let us set a new course for 2024, prioritising impact for not only our various industries but also for the lives we serve.
The writer is head of marketing at Jubilee Health Insurance and 2023 MSK Marketer of the Year.
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