The digital age of the country is right around the corner and knocking the door, The ‘New India’ may not be that smart but is definitely more digitised than ever. In this new age of the country, there is a 24/7 audience which decides the fate of a brand.
Slightest of the mistake sent Surf Excel to the bad books of millions of its users.
One of the most trusted brands trended with #BoycottSurfExcel for a week on twitter and was quite expected to see the repercussions in the stock market as well.
In the past couple of years, customers have proved to be the building blocks of the brand. According to retailers, most customers 82% conduct
research for more than 3 hours before making a purchase
according to a new report by Forbes Insights, in association with
Synchrony Financial, “A Split Screen: Online Information and a Human
The users cannonade social media with opinions as soon as they try out a new product and hence providing the new potential customers with a
mix bag full of reviews. As much as it helps the consumers to make a
purchase, it could be fatal for a brand.
Winning the Trust
According to the 2018 Edelman Trust Barometer, the industry standard for
measuring consumer trust, only 48 percent of the general population in
the United States trusts businesses.
With the modern audience coming in, trust has proven to be the most
important lubricant for a brand’s engine.
It is the only common thread which goes down in all age groups. Hence,
if the breach can send us down the drain, gaining the customer trust can do the job creating brand value.
How to Achieve trust?
Unless the brands are not going for one-time sales, the most important technique to gain better revenues is to retain the customers. 95% of unhappy customers will return to a business if their problem gets resolved.
Hence it becomes more than important to gain the trust of our customers to make them a loyal & recurring consumer.
Customer behavior could be complex at times to understand due to the ever changing views of the user, making it difficult for brands to keep the trust and not make an error.
In order to understand and synchronise the buying behavior, what the brands need is a mixture of human touch & technology. Both have proven to be equally important to achieve the ultimate trust and this is where brands suffer. With the birth of Artificial Intelligence, it looks like we may have gotten the answer. Integrating AI in our campaigns can prove to be the solution minimising the human effort and in the long run minimising the chances of error.
This is what we at Societal aim to do, our target is to help brands achieve
their customer loyalty and boost the revenues with our personalised AI
It can help a brand not only to efficiently record the data minimising the
human efforts but more importantly to understand the customer behaviour and winning the hard to achieve trust.