How Allocentric Marketing Can Help Your Business Grow
The Customer Engagement Allocentric Marketing Approach
The effects that COVID-19 has had on our daily living have resulted in an unprecedented change in the relationship between communities and their local governments and businesses. Nothing since perhaps the 2008 financial crash has shaken up the market in any comparable magnitude.
Small and emerging businesses have also been struck by the pandemic on an unprecedented scale. Local shops of all niches from pubs, salons, gyms, craft stores, grocery stores, and retailers among others have all been squeezed to the brink of bankruptcy by consumers' lower spending capacity, and restrictions on travel. Many have not been able to survive such unprecedented needs for transition.
How Allocentric Marketing Can Help Your Business Grow
Companies can focus on their post-pandemic emergence by understanding their audience and consumers’ personal-local and regional level cultural allocentric orientation post the pandemic for business growth.
Why is Allocentric Marketing Important?
Allocentric marketing is important for several reasons: It’s the equivalent of engagement marketing in that your product is consumed from the point of view of the person who bought it. It takes your product from one central location to the point of sale. Conversely, a mass-marketed product places the product in the store’s retail location. You have a smaller number of consumers for each purchase. You must go to the point of sale. However, you don’t send all of your potential buyers to your store. A smaller number of consumers is more accessible to you. To have a market that is the best fit for the product, this smaller group of people must all share a meaningful value set. When a market is only a few consumers, you must go to every individual.
What is Allocentric Marketing?
Allocentric Marketing is the way business owners and marketers connect with their audience and consumers through a sense of trust and empathy on a personal level. You can apply this concept by thinking about how you and your audience approach everyday activities post-pandemic to the business emergence for the pandemic recovery.
Do you consider everyone your neighbour?
What are your individual skills and passions?
How do you relate to people on a personal level?
How have you adopted or modified your services, products and offers?
Do you offer recurring memberships at a nominal monthly subscription fee?
Do you offer a low ticket byte size transformation in order to provide results?
Do you offer high value, high ticket offers to provider 1:1 deeper impact?
Being aware of how people relate to you is the first step in effective communication and working together as a community and audience. Knowing who you're communicating with is crucial in marketing today. Knowing how to understand them, that's Allocentric Marketing.
What does the Allocentric Marketing Approach Mean for Your Business?
To adopt an Allocentric marketing engagement approach is to understand the positioning and importance of specific pandemic imposed changes to the traditional behaviour or beliefs based on your audiences. In addition to your prospects and consumers’ regional and personal-local social and geographical location as it pertains to your products, service, or brand.
As it pertains to business growth, I suggest considering opportunities for brand allocations and regional brand affinities, making prospects feel safe in relation to engaging and accessing your business or marketing your business post the pandemic outbreak for business growth.
For those that have managed to power through the pandemic, there is now a burgeoning opportunity for small businesses to take advantage of what seems to be a shift.
The need for ever-increasing profit margins for companies to continue to make returns on investments has necessitated the push for high-class niche brands to expand further and further into new consumer categories.
The Allocentric Marketing Approach
So how is this all changing? Or more importantly, how can we change this. With everything from the global and national economy, people’s own financial stability, and social cohesion being pushed to the brink in such trying times, the population has started to awaken to the complete lack of responsibility brands have taken in supporting the continued prosperity of their communities.
We’re experiencing a genuine and unprecedented demand for true company and corporate social responsibility.
This, however, may not be bad news for business owners. As mentioned above taking the opportunities to engage in community outreach and invest back into the consumers that support your businesses can not only create a more personal social relationship between the local community and its corporations but encourage said communities to increase consumption in business that show signs of social responsibility for their local communities.
Consumers crave healthy social relationships with the places they buy at, and it’s time for companies to realise that taking the initiative and making the first move with community outreach can prove to be a strong enough of a unique selling point for a business to generate more activity and engagement.
Need to discuss your Local and Allocentric Marketing solutions, why not book a free 15 min complimentary call here to discuss how we can support you.