In this difficult period, it seems not a day goes by without bad news from companies suffering in the grip of the recession. When even longstanding British institutions such as Woolworths have fallen victim to the downturn and interest rates are slashed, consumers could well be forgiven for losing faith in even long-held trust they have maintained in their chosen brands. This fall in trust can have serious long term ramifications for brand image, particularly when long-standing customer advocates may be beginning to question their faith. APA's Julia Hutchison explains more.
The good news is that there is something companies can do to counter any tumbling trust. Recent Royal Mail research discovered that over three quarters (78 per cent) of the UK's most trusted brands publish a customer magazine as part of their integrated customer communications strategy. Organisations including British Airways, Tesco, Virgin, Norwich Union (or should I say Aviva), British Gas and AA were all recently as named the county's top trusted brands within their respective categories in the Reader's Digest annual survey, and all of whom regularly publish a customer title.
While it may only be one piece of the marketing puzzle, even when used in isolation the customer magazine has been found to significantly engender customer faith in a brand. The soft-sell method afforded through customer publishing, whether online or offline, can prove incredibly valuable and work towards rebuilding any customer relationships which may be strained due to recent business developments. Instead of straightforward advertising, customer magazines are designed to build more of a rapport with readers by leveraging on the power of the magazine - utilising themed, branded content to educate and entertain recipients, creating and building brand image.
Indeed, APA research has shown that 32 per cent of customer magazine readers are more committed to a brand after reading a customer magazine, and moreover are 44 per cent more likely to interact with the brand after reading. It is this kind of value-added brand communication, giving the customer something back in return for their time, which can make all the difference to the modern consumer, especially one whose trust in their chosen brands may be wavering. It is therefore no surprise that somewhat beleaguered companies such as Royal Bank of Scotland should be looking to reinvest in customer publishing, through its magazine Sense which boasts over 1.5 million readers, even during such turbulent times.
Customer publishing also offers the added benefit that it can be truly interactive, providing a forum for dialogue between a customer and a company. This interaction can serve to soothe any concerns the recipient may have about the company, enlighten as to how the business is faring as well as keeping interested parties updated on news and the company's successes. The sense of community and engagement, and to some degree the ability to respond and have a real dialogue with organisations is one factor in customer publishing's continued success - both online and print. Some titles actively encourage reader involvement, such as South West Trains' e-motion. The needs of the consumer are placed at the centre of the proposition, as the content of the magazine is designed to inform and entertain without the ‘hard sell', especially when magazines are posted to recipients as content can be individualised. This sense of personalised communication which opens a dialogue between brand and reader can serve to underline trust and faith in a chosen company, as it is seen as giving the recipient something back and rewarding their continued loyalty, as well as listening to their feedback.
As the ripples of the recession spread, many companies could be tempted to batten down the hatches and cut both marketing spend and outgoing customer communications in a bid to reduce spend. However, demonstrating the business recognises its valued customers and maintaining the flow of information about the company and its news could prove invaluable in keeping those customers on board and maintaining trust in the brand through a difficult time. Editorialisation of brand can be a key weapon in the marketer's arsenal in terms of keeping the lines of communication open, even stimulating purchase and rewarding value customers support. It is well worth remembering that those customers who remain loyal during a tough period will likely still be there for the company when pressure eases. Isn't this kind of dedication something a company should be rewarding?
