We live in a world where ‘change is the only constant’. At the blink of an eye, consumer habits are shifting; new preferences and trends continue to surface and yesterday’s vogue is passé today. To meet these demands, new zealous entrepreneurs have emerged who aspire to leave their mark and make that noticeable difference. A brand needs to constantly innovate to stay relevant. Being complacent with a belief that one’s present success will last forever is fallacious. The key to staying ahead of the curve is consistency, consistency and consistency!
Let’s make this easier to understand with the simple example of smartphones. At the initial stages, Apple was the pioneer who launched a first-of-its-kind unsurpassed experiential phone. In no time, Samsung accelerated their processes and went all-out to ensure their products were cutting-edge. All this while, Google was working on improving their product and launched the Google Pixel which now claims to have the best camera phone. Indeed, it is the customer who stands to benefit from such healthy competition. What’s the key takeaway from the example? To build a successful brand, you need to “mesmerize” your customers with your offerings. More importantly, to build a sustainable brand, your customers need to stay enamored and connected. This relationship is imperative to earn trust and loyalty, which in turn translates into an effective symbiotic relationship. As a business, this is the rule of thumb ‒ you are in business because of the customer and not the other way round.
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