< PreviousWritten by Pauline Muller The world of social media is like ever-shifting sands. No sooner had the world become almost blasé about the global reach that the internet afforded everyone from local school students busking on YouTube to multinational corporations shipping special- ist parts to technicians in Africa than we had to figure out the differ- ence between brand ambassadors and influencers. Those definitions are, for those who are wondering, defined as the difference between a longstanding brand partner who uses the products they promote and a first-time user or short-term brand relationship based on one or a handful of social media posts by an influencer with a following that aligns with the company’s desired consumer demographic. Influencers may not even have used a product prior to featuring it to an audience of their followers. A joint Kurio-thenetworkone study from earlier this year that looked into social media marketing trends showed that, instead of the world turning into an ever-growing big-brand shopping mall, quite the opposite is happening. While many big brands are indeed growing, the emergence of an independently produced or ‘indie’ economy is also taking shape. 10 NOVEMBER 2022Rather than ordering from well-known international brands, the hottest trend is to support local producers of often artisanal goods. Moreover, the phenomenon is sweeping across several markets, including beauty, fashion, and food. Consumers are hungry for connection, and with that, com- munities are developing around smaller brands that offer more of a personal touch. One niche market that seems to have developed rapidly thanks to social media and the influence of beautiful images on platforms like Instagram is that of small personal care brands. From soaps to lotions and beard balms, there appears to be no end to new independent beauty brands hitting the market with solutions to skincare issues from pso- riasis to acne. All one has to do is Google ‘Indie brands 2022’ to see a flurry of beauty pages roll up. The research campaign published in January this year by Kurio, a social media-driven creative agency in Helsinki, Finland, in collaboration with thenetworkone, an agency network home to around 1,200 agencies across nearly 120 countries, brought a few interesting insights to light. The in-depth study inter- viewed twenty-five social media experts representing twenty- one top independent agencies from around the world who offered their insights at the end of last year. And the results are nothing short of fascinating, revealing that the “influencer economy is booming,” and as it grows, it is also evolving. From influencing to content creation, niche content creators are taking social media and stores by storm and brands had better sit up and notice. Brands are beginning to see the value of engaging influencers. Longer ambassador relationships continue to dominate over one-off influencer relationships. The demand for a sense of genuine connection, continuity, and the personal relationship that influencers and ambassadors have with specific products influences consumers to buy. Consumers appear to be well and truly tired of regular sales pitches. This has also been noted by Kevin Fernandez, the social media producer for Adolescent Content (U.S.) and a study contribu- tor. “As a Gen Z marketing agency, we know that younger “The personal relationship that influencers and ambassadors have with specific products influences consumers to buy.”consumers have an aversion towards being ‘sold to.’ By using an organic approach, we are fostering an authentic connection with our community at scale,” he told Kurio researchers. It turns out that, thanks to its short-form video capabilities, TikTok will lord it over Instagram this year with an average of 1 billion users. “Most importantly, TikTok’s knack for virality will push it over the edge in 2022 as the social media platform for marketers to be on,” says Fernandez. Enterfive’s Social Media Manager Presh Hunder and Product Marketing Manager Jide Agbana told the report that TikTok’s main audience is GenZ, with median usage sitting at fifty-two minutes per day. Social media marketing has also found its way into other corners of the internet. The Italian fashion house Gucci launched its virtual garden on Roblox, an international gaming platform in 2021. While this is certainly still a hugely underexplored marketing world, most consumers, at this stage, appear to prefer simplicity. Short videos are increasingly touted as the favourite go-to for consumers in search of bite-sized portions of fast, easily digest- ible information, and finally, more older people are joining the online world since the advent of COVID-19. To better facilitate the future of the influencer and content creator economy, media platforms are tuning into the traffic they bring, as follower loyalty appears to be more or less guaranteed. As a result, these companies are supporting influencers and content creators in earning good income from their online pursuits more easily. But there is also another side to the influencer economy that is not always so visible. Global stars are photographed in outfits that are often copied and sent to market within hours of their appearance. And so, fast fashion provides a way for people striving for fame to share in short-lived, glamorous moments of make-believe. This trend, psychologists postulate, is the result of young people zoning out of strained real-life relationships and developing parasocial fixations on the lives of celebrities and lesser social media influencers. The result is not always pretty. Some of these fast-fashion giants lure starry-eyed young people hoping for fame—and free merchandise—into becoming influencers. Such deals result in comparatively large purchases by aspiring and naive content creators and not much else other than free advertis- ing for the label. But there are also influencers with a much more down-to-earth approach, who rely on their wit and sense of irony, humour, and even hard skills to hold the attention of their followers and product suppliers. Considering the anxiety and authenticity issues that afflict influencers focused on appearing to live the high life, these people may have a far better and more sustain- able career ahead of them. What remains is that GenZ members and their younger siblings are far more interesting and complex consumers than advertis- ers have ever had to convince before. Perhaps these genera- tions will continue to follow those they consider to be friends and mirror what they do and do not buy. Time will tell. Designed by Ashley Dowling 13 BUSINESS IN FOCUS Written by Allison Dempsey The customer may not always be right, but they definitely know what they want from their shopping interactions: quality, loyalty, and the ability to make meaningful connections with companies. In short, the long-term success of a business depends on developing a working connection with its clients. Feeling appreciated and connected to brands through relationships built on trust and open communication increases customer retention and leads to vital repeat business. “Because they raise employee morale, deliver priceless marketing, and act as an R&D department, strong customer connections are crucial to business success.” 15 BUSINESS IN FOCUS Today's consumers place a high value on interper- sonal interactions and two-way avenues of communica- tion, with buying decisions greatly influenced by shopping experiences. Providing a positive customer encounter grows a brand's reputation and its audience, not just through more well-known celebrity endorsements, but also via the opinions of everyday consumers. Relatable word-of-mouth recommendations are invaluable. Because they raise employee morale, deliver priceless marketing, and act as an R&D department, strong customer connections are crucial to business success. Whether through savvy social media posts, giveaways, contests, interactions, surveys, or follow backs, letting customers know you see and appreciate them is worth more than any expensive marketing campaign. While short-term business deals with clients involve taking the money and running, long-term thinking places a high importance on developing and maintaining relationships and making short-term sacrifices to maintain long-term consumer satisfaction. Maintaining current clientele is the simplest, most effective way to grow. Poor customer connections lose the average organiza- tion 20 to 80 percent of clientele each year. Additionally, busi- nesses have a 60 to 70 percent chance of selling to an existing customer, but the likelihood of selling to a fresh prospect slips to between 5 and 20 percent. When companies treat customers well, the customers in turn become the biggest brand promoters and repeat consumers while conversely, each disgruntled customer on average tells 13 others about poor service received. News travels quickly, especially over the internet! The primary rule of any business is to keep customers happy and establish a lasting relationship, reducing the costs of new client acquisition. Research shows that while 44 percent of businesses place more emphasis on customer acquisition than on customer retention, just 40 percent of businesses and 30 percent of advertising firms give acquisition and retention equal priority. Customers will allow you to continue contacting them if you treat them well and earn their confidence, believing in the company’s future and responding to messages as opposed to rejecting a cold call. If you can't establish a dependable identity, consumers may believe that the brand itself is unre- liable and inconsistent. Creating an emotional bond may seem silly or pointless, but it’s vital when building brand loyalty and personalized service. Long-lasting consumer relationships result in an emotional connection, whether through customer attention, personable 16 NOVEMBER 2022and considerate service, or treating customers with respect: in short, understanding clients are real people. The best R&D department is one with an ongoing engagement with clients, sharing their preferences, aspira- tions, and needs when they interact with them. The ability to tailor marketing messages to the appropriate target can benefit your future product designs. Conversely, ignoring clients is the best way to infuriate them. A sluggish reaction might escalate a minor problem into a bigger one and leave clients feeling forgotten. On the other hand, a swift and helpful response might turn a dissatisfied consumer into a fervent advocate for your company. Of course, no matter how hard you try to make consumers happy, dissatisfaction will happen. Even if it’s not your fault, it’s your responsibility to address the customer's issues and “Maintaining current clientele is the simplest, most effective way to grow. Poor customer connections lose the average organization 20 to 80 percent of clientele each year.” encourage them to use your brand again. Going above and beyond for customers to demonstrate your firm’s dedication to retaining their business is critical to obtaining long-term loyalty. Customer satisfaction with assistance will increase as a result of continual communication, with the ultimate goal of having clients gushing over the level of support: surveys have found that up to 96 percent of unhappy consumers don't make a complaint. The same goes for employees when they know that their employer has their back and gives them the freedom to do whatever it takes to satisfy clients. Employee engagement is 1.5 times higher in businesses that thrive at providing excellent customer service than in those that don't. Ultimately, designing and maintaining a customer support struc- ture, even if your company is small, is key. Get close to customers, use their names, keep track of their interests, and take the initia- tive to check on their happiness. Many businesses employ virtual assistants to conduct research for customer service so clients receive the appropriate communication at the appropriate time. Customers and businesses have an ever-changing connec- tion. Customers can be reached through a variety of methods, many of them employing appropriate technology. Customers today are familiar with both brands and products and are well-versed in business. 17 BUSINESS IN FOCUS Additionally, there is a strong need for tailored services in these circumstances. Providing individualized services that precisely meet the demands and preferences of the consumer is referred to as personalized customer service. Customers will feel more attuned to your business and more satisfied since they get answers that are specifically tailored to their concerns. Companies should prioritize getting to know clients thor- oughly if they want to develop strong customer relationships, encouraging customer service representatives to engage with clients to learn about their wants and demands. Businesses can also determine their target market by talking deeply with clients and understanding more about their needs. An honest conversation will result in satisfying the client's expecta- tions and looking into the various areas that require improvement. Businesses that are in continual contact with their clients via digital channels such as emails and social media foster “In today’s climate, offering clients tailored services is not a luxury, but a requirement.” customers who are more likely to use the company's services repeatedly as a result of the prompt responses and assistance. A variety of customer care choices that a consumer might choose to use while perusing websites include options like chat assistance or calls with a live agent. Allowing clients to select options based on convenience means the user experi- ence is more tailored. Companies can also focus on being accessible to clients through Interactive Voice Response (IVR) and missed call alerts once they have a thorough understanding of their clientele, with access to customer service representatives provided around the clock. No matter how successful you are, it’s never wise to settle, however. Companies should constantly strive for fresh and better methods to enhance their customer services as each customer may have a different relationship with the company and its goods. NOVEMBER 2022 18In short, personalizing client interactions is vital, as not every consumer will have a positive experience. To improve future services and deliver the greatest possible customer experi- ence, it’s important to solicit and analyze client input. Building lasting relationships with clients can be facilitated by offering individualized services specifically designed to address specific needs. These connections may provide companies with advantages over rivals who don't place a high priority on customer service. Providing personalized customer care to client businesses can not only provide customer service more quickly, but it can also track consumer information via personalization, adjust conversations in light of beneficial information about clients, such as their preferences and areas of interest, and use advanced analytics techniques to filter out customer options and tailor them to each customer. It has been shown countless times that a company differ- entiates itself from its rivals by providing clients with these tailored services. Due to market size, inflation and general worldwide economic uncertainty, there’s intense competition among businesses that provide comparable goods and services. Every firm requires a characteristic that sets it apart from the competi- tion and makes it a superior service provider. Offering cus- tomers bespoke solutions might just provide you with a competitive edge. Personal chat help, live agent calls, and email assistance are just a few examples of customer-centric techniques that can give organizations an advantage over their competitors. In today’s climate, offering clients tailored services is not a luxury, but a requirement as a satisfied customer will always be more devoted to the business. Ultimately, personalization helps organizations reach a wider audience while also enhancing relationships with clients. Offering tailored services to clients to foster con- fidence and draw in more customers relies on providing clients with genuine problem-solving solutions and attend- ing to their demands. Consumers are not nameless, faceless entities with open wallets. They take pleasure in interacting with brands and developing enduring relationships. If businesses encourage that connection they’ll make it easier, and more profitable, for customers to participate in the experience. Designed by Ashley Dowling 19 BUSINESS IN FOCUS Next >