Click below to see more details.
Why is VEEIP relevant now?
What's makes today's consumer tick?
Today's consumers use technology to empower their lives and are increasingly savvy. They expect fast, relevant responsiveness and they respond better to personal engagement than to bombardment.Consumers are aware that their data has historically been exploited by brands/companies, in many cases, without any apparent quid pro quo. Awareness of these issues is prevalent, helped by the media and new regulation designed to protect their rights (GDPR).
Given the choice, VEEIP believes that the majority of consumers will elect to allow brands access to their data SUBJECT TO its fair and limited use, reasonable recompense and the retention of ultimate control.
With the right to be forgotten established under law, there is no logical reason why a consumer who is presented with the option of fair compensation for their data use, would not choose to allow it to take place, assuming that their trust can be earned.
VEEIP facilitates this fair exchange of value in the most efficient way with significant benefits for all, but leaves the control in the hands of the consumer.
VEEIP is the future of customer engagement.
What are the key factors influencing consumer buying behaviour?
We believe that the key factor in making decisions is fair value. Consumers must experience the feeling of brands offering them a fair exchange of value for their custom.
Brands would be well advised to focus on whether they are meeting the needs of each individual customer rather than simply looking at their own agenda in the absence of any reasonable customer context.
The best performing brands will be the ones which place the same value on customers' individual needs as they do on their own objectives, building longer lasting relationships based upon a fair value exchange.
Until this happens, relationships will remain transactional and both parties will continue to experience the destruction of value.
Why is shopper marketing the key to success?
Shopper marketing is fundamental to success because it seeks to engage each consumer according to their specific needs and wants, rather than engaging in the same way with all customers.
The existing model of mass advertising has significant inefficiencies. It results in significantly higher marketing costs for brands and a feeling of exasperation on the part of consumers who are bombarded with the wrong marketing messages from brands and a lack of any real relatedness.
By shifting marketing budgets away from above the line mass advertising where the return on investment is spurious, brands can deliver improved performance based upon real metrics at significantly lower cost.
How is the market changing?
The following consumer trends are evident:
i. Consumers are bombarded with deals from voucher/discount aggregators which destroys brand equity
ii. There is evidence of consumer resentment of brands polluting consumers' personal digital space
iii. Consumers long to be engaged, not bombarded with irrelevance
iv. They gravitate towards digital products that simplify their lives by delivering seamless experiences
v. They want to maintain control of their data
vi. They are increasingly turned off by the singular exploitation of their data
viii. They want to experience the feeling of being treated as 'special'
viii. They don't want a wallet full of loyalty cards or a phone full of loyalty apps
ix. They prefer to pay with their payment cards (directly or via a wallet)
What drives loyalty?
VEEIP believes that the new digitally driven world of customer loyalty and advocacy is about relevant and personal brand engagement that builds desire and rewards consumers both emotionally and rationally for their custom, 24/7.
Ultimately, business success lies in meeting the needs of each consumer in the right way at the right time. It can never be embodied in a given product or fixed set of ideas.
What can I do to tap in to this opportunity?
Brands can tap into this market by reviewing their approach to marketing to look at the holistic relationships with their customers.
VEEIP offers a no obligation opportunity to see the VEEIP Platform in operation and case studies that demonstrate the results. VEEIP offers an excellent, quasi risk-free investment, when compared to other marketing options.
Contact VEEIP HQ to set up a meeting with our specialists.
Last updated: 16 Mar 2022 @10:06