What do customer service and content marketing have in common?
It’s a widely-held belief that quality customer service matters the most during a weak economy – as it ensures customers stay loyal to your brand during tough times.
However, a recent study has found customer service is more important in a good economy than it is in a bad one.
A new study – “Assessing the Influence of Economic and Customer Experience Factors on Service Purchase Behaviors” – was published in the latest Marketing Science Journal. It measured people’s perceptions of companies during strong and weak economies.
Consumers are more likely to remember their previous experience with companies during a flourishing economic environment than in a poor one, and let this opinion influence their future purchasing decisions, according to the study.
This makes sense – when the economy is bad, people are more focused on price and less on customer experience.
The researchers analysed a major airline’s customer service efforts over a period of time, and found a 10 percent gain in revenue during a poor economy, and a 20 percent gain when the economy was good.
Therefore, the study recommended companies spend more on customer service when the economy is in good shape. When things take a turn for the worst, focus on advertising lower prices and special deals instead to boost revenue.
The key here is to build a relationship with your customers – in good times and in bad – which is of course just as applicable to content marketing as it is to customer service.
Useful and engaging content enables businesses to talk to consumers, earn their trust and build up a relationship with them.
In return, consumers remember them and are more likely to turn to them in their own time.
CEO and founder of Moz, Rand Fishkin, said that all too often marketers think consumers simply stumble upon their content and automatically turn into customers.
It’s not about converting on the first, second, or even third visit to your site, he said but rather understanding that content marketing is a gradual process that happens over a long period of time.
This is why it’s important to get to know your customers and their habits, so you can connect them, regardless of the state of the economy.
Posted by Dylan Brown