Creating Customer's Emotional Involvement with Brands - Essay Example

Management Name Institution Date Introduction According to Jeff Bezos, a brand for a corporation can be compared to a reputation for an individual. Reputation is earned when hard things are done in the right way. If a company creates great experience clients will inform each about it. Word of mouth can be very influential. Jeff states that there exist two types of business, “those that work to try to charge more and those that work to charge less”. Jeff Bezos, the chief executive officer and founder for azoman.com stated that, “We see our customers as invited guests to a party, and we are the hosts” (Jeff) Amazon. com is a recognized corporation for having philosophies centered on its customers. After establishing Amazon.com it took ten years to make profit and during the entire period the chief executive officer Jeff Bezos was not acknowledged as company leader of the decade. Bezos maintained that his customer-centric policies were firm, and that they help in creating a strong and successful business. During the tragic 2008 Christmas retail season the company produced remarkable profits and was the envy of retailers globally. Bezos had worked so hard on customer relationships and was beneficial just as he had foretold. He provided the retail commerce and e-commerce particularly, a new equation for accomplishment based on customer contentment and longevity. Bezos has preserved the course of creating strong client relationship and defending his customer-centric policies publicly. According to Westpac Group Annual report (2011), Westpac is a bank located in Australia and is among the four largest banks. It provides international monetary services. Westpac has a large network of over 1200 branches and more than 2800 ATMs. It is rated as the second-largest bank provider of house lending and Australia's second-largest supplier of capital platforms by funds under management. According to Westpac Group Annual report (2011), it was acknowledged by the “Dow Jones Sustainability Index” as the most credible bank in the globe for five continuous years. A consumer is able to locate the bank easily both online and offline and reach it easily. Location is very essential in retailing and helps in shaping customer experience. Once inside the bank, capability to navigate and find things is easier. Westpac is making its branches more customer-friendly. Bank design and plan, use of signs, and accessibility of staff to assist is important (Doug M. 2010). There are so many companies claiming to be in touch with their customers and being customer centered. In reality most companies are not in touch with their customers as they assume. Leadership is the starting point of real customer engagement. Operations, financials, policy and other daily events are the grinds distracting senior executives when it comes to operating a business. Keepings fingers on the pulse of the whole customer experience from the start to the end are the strategy for the Westpac bank managers to maintain competition. Senior managers can rapidly and in inadvertently stay out of touch with the realities of the customer experience being created by their organization every day. Customers’ research, marker review and proof of how customers’ view the bank help senior supervisors decide on the best strategy to apply. This information is very significant but live, regular and direct contact with customers and sampling customer base is more important. Engaging with customers in that level assists in obtaining essential insights in the issues and problems experienced by customers daily and help in understanding customers’ view of the business entirely (Doug M. 2010). By conducting surveys and research, the bank cannot extract customers’ emotions and feelings. Sincere one on one dialogue is the only means of determining them. Customer service improvement involves discovering and gathering response from customers. A business policy of listening to the words of the clients is essential. The bank does this by contacting customers and providing them with a medium to raise issues affecting the. This response is then filed in a customer response report. The bank then organizes a suitable time to discuss the report's results. It is essential to understand the existing customer experience. The customer response report is used to provide insights into the sectors of the company which might be generating problems with clients. The bank needs to improve the customers experience after assessing the current customer experience. The bank then compiles an action plan using the opportunities identified. The objective is to reduce costs, increase revenue and improve services service (Doug M. 2010). At the bank customers are put at the forefront does not necessitate complex procedures or programs. A regular conference between chief managers with randomly chosen clients and a report on discussed issues works. The objective of such programs is to expose clients’ real issues and sensitize to how the decisions they make will affect clients. A caution is taken to prevent senior executives from trying to extrapolate trend from just a few customer interactions. Managers are allowed to build customer relationship one-on-one, considering that every customer might have a unique opinion or concern. Westpac bank involves customers in all decision making. This is very important for the bank to display their real client centric policy. Business executives regularly visit customers to effectively maintain the customers’ fascination, passion and concerns at the forefront. Focusing on customer is not a task for senior executives only. It is a business culture to involve customers in all matters concerning the company (Doug M. 2010). Managers consider how one would like to be handled as a customer. A senior manager and leadership team put themselves in the position of a customer. They are ready to listen to the good and the bad views from customers’. According to Leonwood Bean, the founder of L.L. Bean, another business recognized for its devotion to customer service and contentment, stated “A customer is not an interruption of our work…he is the purpose of it”. Business leaders should be closer to customers and the later the results will be great (Doug M. 2010). The bank listens to customers just like guests at a party. According to Jeff CEO of Amazon.com when someone invites a guest, they do not converse to the concerning what they have to offer and what is correct or wrong. Westpac bank listens to customers and tries to identify with what is new with clients. The same is done with staff working at the bank. Senior managers discuss employee’s objectives and determine ways of helping them to attain them. This enables employees to feel in control and appreciated. Westpac customers are treated more than just organization consumers, but as guests to an event they are hosting. Clients deem themselves more important to the bank. This ensure that staffs are taking care the clients in a more proficient and genuine manner, which increases clients contentment, client level of loyalty and economic profit. There is a new revelation development in the Westpac bank environment. The idea of experiential branding is the strategy to this new area of thinking in marketing to development of new possibilities. This involves letting customer’s experiences with the company brand go further than the products or services the business provides. The bank considers the customers’ views, positive ideas, feelings and attitudes based on interactions and deepening connection with the company brand. These intangible surpass the real products or services bank provides in the market place, all can be simply acquired from a number of competitors. An actual brand image that is entirely unique is build with the integration of the client’s brand experience across various channels. The brand experience is made full through design, including each and every client touch point (Doug M. 2010). Actual design of the bank’s product or service helps in forming a meaningful brand experience for the client. This broadens to its communication hierarchy in the method of packaging products/services, the bank’s website, its letters and unique offer to clients, its call center communication with clients, and its marketing and promotions. All these when put into action, produce an entire customer experience. The entire customer touch points when properly administered and aligned produce an entire experiential branding. Customer service is very essential touch point. According to research done by “American Customer Satisfaction Index” has portrayed that services offered to clients by business over the last 10 years (Doug M. 2010). Ensuring clients are satisfied and offering a high level of customer service is very important differentiators in the marketplace. It helps brand loyalty when all other touch points are consistent. According to customers consistency and responsiveness are the most valued features of services. Regularly meeting, or going beyond, client’s expectations in service produce great rewards for business. Customer’s emotional involvement with brands creates a brand dialogue and forms a deep relationship founded on trust. The consequence is a profound level of brand loyalty after sometime. Chief promotion officers at the bank and their marketing departments recognize the entire design of their client’s experience is a crucial differentiator that creates company and brand equity. Conclusion Whether a company business is large or small, both clients and company can gain from customer services. The company should understand the actual wants and expectations of the clients. It is vital to value the experience of your customers. Creating and managing the delivery of a exceptional customer experience. References Doug M. (2010) Staying in Touch with Your Customers. Retrieved from: http://www.corpmagazine.com/executives-entrepreneurs Jeff B. About Customer-centric Philosophies and the Customer Service Strategies That Build Long-term Success Westpac Group Annual report(2011) Read More