While inflation may be a natural part of the economic cycle, it is one that can cause customers to think twice before making a purchase or to budget more tightly. At Content Factory 1, we offer solutions to help consumers to overcome their hesitancy. These solutions don’t require expensive advertising campaigns or price-cutting strategies, rather they take a combination of optimized content and consumer understanding.
What makes customers switch and what makes them stay?
Honesty wins loyalty In an inflationary market, consumers are more likely to spend their money on brands they know, like, and care about. We built our company with the mission of bringing honesty into eCommerce. Honesty in digital content and in company communication. Content-wise, accurate and engaging descriptions and clear, optimized imagery give consumers the information they need to make an informed decision. It also stands out in a crowded market and makes a difference in making the sale.
For companies, being transparent helps to build consumer trust. Simple ways to achieve this include,
- Communicating the reasoning behind a price increase so your consumers do not feel caught off guard.
- Giving consumers advanced notice of any price changes so they can plan for purchases.
- Focusing on customer relationships and experiences
- Showing appreciation for each purchase. This can be through a loyalty program or a heartfelt thank you.
To counteract higher prices, go beyond them Cost doesn’t in itself turn a customer away as long as shoppers see the value of what they get for a certain price. This value lies in more than features and benefits. It’s based on the connection your business has to consumers themselves – especially in the eCommerce environment. At ContentFactory1, we focus on consumers first to develop a deep understanding of their needs and wants, then we customize your brand content so its appeal to buyers has the added value of emotional connection. With this understanding, every offer, message, or image aligns with your customers’ likes, preferences, and intent.
We believe that this high-quality content is best delivered in an equally optimized package designed for each individual business. Just like consumers, you deserve tailor-made content solutions including development and maintenance, data management, custom digital tools, and SEO optimization that meets your exact needs. This is especially vital during times of inflation, where customization and cost optimization ensure that you get the most value out of every service in a solution that is 100% your own. If your current vendor doesn’t offer this, there’s never been a better time to switch.
Take heart, inflation is temporary According to the EU Autumn 2022 Economic Forecast, inflation is expected to decline in 2023, but to remain high at 7.0% in the EU and 6.1% in the euro area, before moderating in 2024 to 3.0% and 2.6% respectively.
We recommend focusing on long-term growth by building a community that keeps bringing customers to your products and services. At its core, a community is a collective of individuals with shared interests. Through content, you can speak to customers in a way that resonates with them on a personal level. You can develop a relationship with your existing customers beyond price, one where honesty, reliability, and listening to their needs keep them from switching to a generic or lower-priced competitor.
Looking ahead to 2023 While we do expect inflation to go down over the course of 2023, we recommend focusing on long-term growth during this time. Give building brand integrity and community the same level of importance as reaching sales goals. In this climate, listening to your customers, being honest with them, and connecting with them beyond price is the best way to keep business steady and strong.
Content Factory 1 is an experienced content company with 22 years of expertise in providing product data solutions. With our highly-skilled professionals, deep customer understanding, and digital know-now, we are your reliable partner in making eCommerce more accurate, reliable, and trustworthy. To discuss how we can do this for your company, contact us at email@example.com