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Beyond the Honeymoon Phase: Nurturing Post-Purchase Relationships with Consumers

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As the less glamorous sibling of the initial transaction, the post-purchase phase is frequently disregarded in the dynamic dance between businesses and consumers. But insiders know that the real magic happens beyond the honeymoon period. Developing a relationship that lasts past the initial sale is an art form as well as a strategy that sets exceptional businesses apart from the rest.

However, the journey doesn’t end at the checkout counter – in fact, that’s just the beginning. Smart businesses recognize that post-purchase engagement is a golden opportunity to deepen connections, foster loyalty, and transform one-time buyers into lifelong advocates. The true value lies in the ability to create an ongoing relationship that transcends the transactional, turning customers into brand enthusiasts. Generic thank-you emails are so last season. In the age of personalization, consumers crave tailored experiences that speak to their individual needs. Businesses that invest in customized follow-ups, whether through personalized emails, exclusive offers, or thoughtful post-purchase surveys, demonstrate a commitment to understanding and serving their customers on a personal level.

Power of Unpredictability!

Who said surprises are reserved for special occasions? Injecting unexpected moments of joy into the post-purchase journey can leave a lasting impression. Whether it’s a surprise discount on their next purchase, a free sample of a new product, or an exclusive invitation to a VIP event, these delightful surprises not only showcase appreciation but also create a sense of anticipation for future interactions.

 Social media platforms provide the perfect canvas for businesses to create spaces where customers can connect, share experiences, and become part of a larger narrative. By fostering a sense of belonging, businesses can transform their customers into a supportive community that not only buys products but actively advocates for the brand.

Anticipating Needs: Proactive Customer Support

Exceptional post-purchase experiences extend beyond the expected. Proactive customer support that anticipates and addresses potential issues before they arise showcases a dedication to customer satisfaction. By being one step ahead and providing solutions even before customers realize they need them, businesses can build trust and loyalty that withstands the test of time.

Loyalty programs are a staple in the post-purchase playbook, but not all are created equal. Going beyond mere point accumulation, successful loyalty programs engage customers through meaningful rewards, exclusive access, and personalized incentives. When done right, these programs become a two-way street where customers feel valued, and businesses gain loyal patrons who actively contribute to their success.

The Long-Term ROI of Post-Purchase Relationships

While the immediate focus of businesses often revolves around acquisition costs and short-term gains, the true return on investment lies in the long-term relationships forged after the purchase. A satisfied customer today can become a brand ambassador tomorrow, influencing others and contributing to a positive brand image that pays dividends over time.

The post-purchase phase is not the end but the continuation of a narrative between consumers and businesses. Those who master the art of post-purchase relationship building understand that sustaining love requires ongoing effort, personalized engagement, and a genuine commitment to the well-being and satisfaction of their customers. Beyond the initial transaction, lies a world of opportunity to create enduring connections that stand the test of time.

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Sampling Success: How to Generate Leads by Offering Food Experiences

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Generate Leads by Offering Food Experiences

Offering food experiences to entice and engage prospects is an unconventional yet undeniably effective strategy that’s gaining traction in the lead generation space. Unlike traditional methods, this unique approach taps into the universal love of food, creating an avenue for meaningful connections and lasting impressions. With this in mind, businesses are constantly looking for new and creative ways to capture the attention of potential clients.

It’s no secret that food has the power to evoke emotions and create lasting memories. Leveraging this innate connection, businesses can turn the mundane act of lead generation into a memorable experience. Imagine a prospect receiving an invitation not just for a sales pitch, but for an exclusive culinary journey – a delightful blend of flavors and business insights. This tantalizing combination adds a layer of excitement and anticipation, making the entire process more appealing.

Crafting Experiences, Not Just Meals

Instead of a conventional meeting room, consider hosting a gathering at a trendy cooking class or a unique pop-up dining event. By integrating the culinary aspect into the lead generation process, businesses can create an immersive environment that fosters genuine connections. This not only captures attention but also establishes a positive association with the brand.

Apart from that, food experiences go beyond the immediate gratification of taste buds; they provide a platform for relationship-building. Breaking bread together has been a time-honored tradition for fostering connections, and the business world is no exception. Sharing a meal creates a relaxed setting where individuals can engage in authentic conversations, fostering a sense of camaraderie that can translate into long-lasting professional relationships.

Further, customizing culinary connections could really come in handy as one size does not fit all, and the same goes for culinary lead generation experiences. Tailoring events to cater to the specific preferences and dietary needs of potential clients showcases a commitment to personalization. Whether it’s a curated wine and cheese pairing or a hands-on cooking class, the goal is to create an atmosphere that resonates with the target audience. This personalized touch adds an extra layer of thoughtfulness that sets a business apart.

While traditional lead generation strategies focus on metrics and conversion rates, the success of culinary lead generation experiences goes beyond the numbers. The impact is measured in the quality of relationships cultivated and the long-term connections forged. It’s about creating a positive impression that extends beyond the initial interaction, turning leads into loyal clients and advocates.

Of course, implementing food experiences in lead generation is not without its challenges. Logistics, dietary restrictions, and varying preferences can pose hurdles. However, with meticulous planning and a creative mindset, businesses can overcome these obstacles and deliver memorable experiences that leave a lasting imprint on potential clients.

The fusion of business and gastronomy opens up a realm of possibilities for lead generation. By embracing the unconventional and offering food experiences, businesses can elevate their approach, creating a memorable journey that goes beyond the transactional. In the world of culinary connections, success is not just measured in leads generated but in the relationships nurtured and the bonds forged over shared meals and meaningful conversations.

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A Journey with Purpose: Utilizing Customer Maps for Targeted Marketing Strategies

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Customer Journey Mapping

Embarking on a journey with purpose is a mantra that resonates not just in life but also in the dynamic realm of marketing. As brands navigate the intricate landscapes of consumer preferences and behaviors, the concept of customer maps has emerged as a compass for crafting targeted and impactful marketing strategies. In this exploration, we’ll delve into the art of charting a purposeful journey through the intricacies of customer maps, uncovering the strategic goldmine they offer for brands seeking to forge deeper connections with their audience.

Mapping the Terrain: Understanding Customer Journeys:

Before delving into the nuances of targeted marketing, brands must embark on the foundational step of understanding customer journeys. This involves mapping out the various touchpoints a consumer encounters on their path to purchase, from initial awareness to the final decision-making moment. By dissecting these journeys, brands gain a holistic view of the terrain they navigate and can strategically position themselves at pivotal points.

Personas as Compass Points:

The journey begins with the creation of customer personas, detailed profiles representing different segments of the target audience. These personas serve as compass points on the customer map, each guiding brands toward a deeper understanding of the diverse motivations, preferences, and pain points that influence consumer decisions. With personas as the starting point, brands can tailor their marketing strategies to resonate with each distinct audience segment.

Plotting Emotional Landscapes:

Customer maps go beyond mere transactional touchpoints; they navigate emotional landscapes. Understanding the emotional highs and lows of the customer journey allows brands to tailor marketing messages that resonate on a deeper level. Whether it’s the excitement of discovery or the anxiety of decision-making, tapping into these emotions fosters a connection that transcends the transaction, creating lasting brand affinity.

Personalization: Navigating the Individual Journey:

One of the most powerful aspects of customer maps is their ability to guide brands in offering personalized experiences. Personalization is not a one-size-fits-all approach but a dynamic strategy that adapts to the unique journey of each consumer. By tailoring messages, promotions, and content to align with specific touchpoints in an individual’s journey, brands create a sense of relevance and connection.

Optimizing Touchpoints for Engagement:

The customer journey is a series of touchpoints, and optimizing these for maximum engagement is the key to a successful marketing strategy. Whether it’s enhancing the user experience on a website, refining the content of marketing emails, or creating seamless transitions between online and offline interactions, optimizing touchpoints ensures that every encounter leaves a positive impression.

Strategic Crossroads: Leveraging Decision-Making Moments:

Customer maps highlight strategic crossroads – the moments where decisions are made. These decision-making junctures are critical opportunities for targeted marketing. Whether it’s providing additional information, offering exclusive promotions, or addressing concerns, brands can strategically intervene to guide consumers toward favorable decisions.

Feedback Loops for Continuous Improvement:

The journey is not static; it evolves based on consumer feedback and market dynamics. Customer maps incorporate feedback loops that allow brands to continuously refine their strategies. By listening to customer opinions, analyzing data, and adapting to emerging trends, brands ensure that their journey remains dynamic and responsive to the evolving needs of their audience.

Navigating Multi-Channel Waters:

In an era where consumers seamlessly transition between online and offline channels, effective navigation requires a multi-channel approach. Customer maps help brands synchronize their efforts across various platforms, ensuring a cohesive and consistent experience. Whether a consumer engages on social media, explores products in-store, or interacts with a mobile app, the journey remains interconnected and coherent.

 A Purposeful Expedition:

Embarking on a journey with purpose is not just a metaphorical voyage; it’s a strategic expedition that leverages the insights provided by customer maps. By understanding the diverse landscapes of consumer journeys, brands can craft targeted marketing strategies that resonate on a personal level. The art of utilizing customer maps is about more than reaching a destination; it’s about forging meaningful connections, creating memorable experiences, and navigating the ever-evolving terrain of consumer preferences with purpose and precision. As brands embrace this journey with purpose, the customer map becomes not just a navigational tool but a strategic partner in the pursuit of lasting brand-consumer relationships.

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Brace yourselves, cookie lovers: Subway Canada debuts foot-long flavoured cookie for National Cookie Day!

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subway foot-long cookie

Subway Canada is gearing up to introduce a fresh peanut butter chocolate chunk cookie featuring Reese’s Pieces in celebration of National Cookie Day on December 4, 2023.

For a limited duration, the cookie will be accessible at all Subway establishments throughout Canada.

To enhance the National Cookie Day festivities, Subway Canada is also revealing its first-ever foot-long cookie, but for just one day.

Available strictly on a first-come, first-served basis, the foot-long cookie can be obtained at 127 Bremner Boulevard in Toronto starting at 1 pm on December 4th.

The nationwide release of the foot-long cookie, inspired by the brand-new Subway Series menu, is scheduled for a limited time across all Subway Canada stores in 2024.

Limited to one cookie per customer, individuals can experience the new chocolate chip foot-long cookie in three distinct flavors: the Green Goddess, the Little Italy, and the Great Canadian.

The Little Italy cookie, drawing inspiration from Subway Series #14, features a blend of ricotta and mini chocolate chips, complemented by a topping of strawberries, blueberries, raspberries, lemon juice, and icing sugar.

Taking inspiration from Subway Series #11, the Green Goddess cookie combines a chocolate chip base with a pistachio spread, adorned with green apple slices, shaved coconut, and a drizzle of caramel.

Inspired by Subway Series #1, the Great Canadian cookie is generously layered with caramel-maple spread and delightful blueberry jam, topped with butter tarts, pecans, and bacon.

Subway Canada chef John Botelho stated, “A cookie has always been the perfect pairing to a Subway Footlong.

“Subway is Canada’s cookie destination, and this year, we are giving Canadians even more cookie to enjoy, combining inspiration from fan-favourite Subway Series sandwiches with the delectable taste of our iconic chocolate chunk cookie, now made with chocolate chips.”

Subway Canada is currently offering a promotion until December 31, 2023. Customers who buy a $30 Subway Canada gift card, whether in-store or online, will receive six complimentary cookies.

Subway Canada unveiled its updated loyalty program, MVP Rewards, in September 2023.

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EagleTree Capital acquires renowned sauce maker Summit Hill Foods

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Summit Hill Foods
Summit Hill Foods (Representative Image)

EagleTree Capital, a private equity firm headquartered in the United States, has revealed its acquisition of Summit Hill Foods, a supplier specializing in cooking sauces and meal ingredients.

Established in 1941, Summit Hill Foods is a renowned food company recognized for its brands, including Better Than Bouillon, The Original Louisiana Brand Hot Sauce, and Better Than Gravy. Apart from its retail brand lineup, Summit Hill Foods functions as a solution provider with a focus on flavors and serves as an ingredient supplier to foodservice distributors, manufacturers, and restaurants.

Following EagleTree’s investment, the operational and management teams of Summit Hill Foods will remain unchanged. The firm notes that certain fund investors of EagleTree, including Misland Capital Limited, have also taken part in the investment.

Steve Goodyear, CEO of Summit Hill Foods, said, “Today, we embark on an exciting new chapter in the history of Summit Hill Foods and are absolutely delighted to join forces with EagleTree, whose vision and resources align seamlessly with our aspirations”.

“We see incredible opportunity for our brands Better Than Bouillon and The Original Louisiana Hot Sauce in addition to our custom bases and sauces business. EagleTree’s partnership will empower us to accelerate our growth and innovation, expand our market reach and continue providing high-quality products to our customers.”

Stuart Martin, partner at EagleTree, added, “We have been fans and customers of Summit Hill Foods’ products for a long time and are equally impressed by the company’s unique culture. Summit Hill Foods’ core values are trusting and valuing their employees, community involvement, a commitment to safety and the relentless pursuit of excellence – values we believe are key to the company’s strong performance. We are proud to be stewards of Summit Hill Foods’ special ethos and are very excited to be a part of the company’s next phase of growth.”

Terms of the transaction were not disclosed.

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Reliance Retail’s Azorte opens its flagship store in Ahmedabad, plans massive expansion

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Azorte

Azorte, a high-end fashion and lifestyle store chain under Reliance Retail, has introduced its first store in Ahmedabad, according to a company official’s announcement on social media. The new standalone store, situated at Venus Stratum in Nehrunagar, Ahmedabad, spans an impressive 21,000 square feet of retail space.

“Azorte marks its entry into the ‘Manchester city of India’. Our first store at Stratum @ Venus Grounds, Nehrunagar, Ahmedabad is now open. This is the first of many more stores to come in Gujarat,” said Hari Krishnan, head of visual merchandising at Azorte in a LinkedIn post while sharing images of the new store.

The tech-enabled store, designed to meet the fashion and lifestyle needs of women, men, and kids, comes equipped with self-checkout kiosks, interactive screens, and mobile scan-and-pay functionality.

Reliance Retail launched Azorte in September 2022, debuting its initial brick-and-mortar store in Bengaluru. Currently, the brand boasts 10 retail stores across the country, with a presence in cities like Mumbai, Ahmedabad, Hyderabad, Gurugram, Bengaluru, and Pune.

The retail behemoth has ambitious plans to significantly broaden Azorte’s retail presence, targeting the opening of up to 250 stores within the next two to three years.

Reliance Retail, the retail division of Reliance Industries Ltd., manages a diverse array of fashion and lifestyle brands, encompassing Reliance Trends, Avantra by Trends, Azorte, Fashion Factory, and Centro. Additionally, the company boasts a portfolio featuring more than 50 international brands, including renowned names like Armani, Burberry, Diesel, Gas, Marks & Spencer, Superdry, Brooks Brothers, and Steve Madden.

Recently, the retail giant unveiled Swadesh, a fresh store format highlighting Indian arts and crafts. These establishments are poised to serve as platforms for the promotion of traditional artists and artisans.

Read More: Reliance Retail’s first standalone ‘Swadesh’ store debuts in Hyderabad

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Megastar Foods set to raise INR 42.38 Crore through preferential share issuance

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Megastar Foods Ltd

Megastar Foods Ltd, a food processing company, intends to generate INR 42.38 crore by issuing preferential shares. The funds raised will be utilized to pre-pay existing debt and fulfill future financial needs.

As per a regulatory filing on Thursday, the board of the company has sanctioned the creation, issuance, offering, and allotment of up to 1.3 million shares with a face value of INR 10 each on a preferential basis. These shares will be offered to promoters, non-promoters, and shareholders in the public category.

The company will seek shareholders’ approval during the extraordinary general meeting.

“The proceeds of the preferential issue will be utilised for prepayment of borrowings of the company, meeting future funding requirements, working capital and other general corporate purposes of the company,” the filing said.

The preferential issue of equity shares will be offered at a price of INR 326 per share, with the company aiming to raise INR 42.38 crore through this issuance.

Megastar Foods operates a wheat processing facility in Punjab, with a turnover of INR 304.40 crore in the preceding year.

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CaratLane’s operating revenue soars by 73%, crossing INR 2,000 Cr milestone in FY23

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CaratLane
CaratLane (Representative Image)

CaratLane, a jewellery startup owned by Titan, witnessed a remarkable surge in its operating revenue, surpassing the INR 2,000 Cr milestone in the fiscal year 2022-23 (FY23). The new-age jewellery brand, headquartered in Tamil Nadu, experienced a significant 73% increase in operating revenue, reaching INR 2,169 Cr during FY23, compared to INR 1,255.6 Cr in the preceding fiscal year, driven by escalating demand.

Established in 2008 by Mithun Sacheti and Srinivasa Gopalan, CaratLane is a versatile brand with a presence in both India and the United States, specializing in the production and sale of jewellery items through various channels.

In FY23, the business revenue from the United States held steady at INR 8.68 Cr.

Taking into account additional income, the overall revenue surged by 73%, reaching INR 2,187.8 Cr in the fiscal year, compared to INR 1,264.6 Cr in the preceding year.

Despite the increase in revenue, CaratLane experienced an 8% decline in net profit, falling to INR 82 Cr in the current fiscal year from INR 89.2 Cr in the previous financial year.

Experiencing a 69% surge, the total expenditure reached INR 2,068.5 Cr in FY23, compared to INR 1,225.9 Cr in the previous fiscal year.

As a jewellery brand, CaratLane’s most significant expense was the cost of procurement, which includes the sourcing of gems. The procurement cost witnessed a 66% increase, reaching INR 1,404.5 Cr in FY23, compared to INR 845 Cr in the previous fiscal year.

Employee expenditures surged by 51%, reaching INR 135.4 Cr in the reviewed year, up from INR 89.6 Cr in FY22, signifying an expansion in the startup’s workforce.

Marketing and promotional expenditures for CaratLane experienced a 75% surge, reaching INR 172 Cr in FY23, as compared to INR 98 Cr in the preceding fiscal year.

The EBITDA margin grew to 9.75% in FY23, showing an expansion from 6.86% in the previous fiscal year.

In August this year, Titan, a Tata Group-owned company, augmented its stake in CaratLane by an additional 27.18%, bringing its total ownership in the jewellery brand to 98.28%. This strategic move, valuing CaratLane at over INR 17,000 Cr ($2 Bn), marked the startup’s entrance into the unicorn club.

Last month, the Competition Commission of India (CCI) gave its approval for Titan’s acquisition of an additional stake in CaratLane.

In 2016, Titan initially acquired a controlling stake in the jewellery brand.

In addition to contending with established jewelry brands like Senco Jewellers, Kalyan Jewellers, and Malabar, CaratLane faces competition from contemporary brands such as BlueStone and GIVA. Despite the competitive landscape, CaratLane holds a larger market share compared to its new-age counterparts, thanks to its early entry into the market.

Among its contemporary competitors, GIVA disclosed an operating revenue of INR 165 Cr in FY23, accompanied by a net loss of INR 45.2 Cr. In the same fiscal year, BlueStone reported sales amounting to INR 770 Cr, with a reduced loss of INR 167.2 Cr.

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Nando’s set to expand UK presence with 14 new restaurants following sales surge

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Nando's

Following a surge in sales, Nando’s, the fast casual chain, is set to enhance its presence in the UK with the opening of 14 new restaurant venues in the 2023-2024 financial year.

Excluding South Africa, the peri-peri chicken chain has achieved profitability for the first time since the onset of the Covid-19 pandemic.

Nando’s Group chief executive Rob Papps stated, “The macro-economic outlook for 2024 remains uncertain but we are continuing to invest for the future with further menu innovation, enhancements to our digital capabilities and new restaurant openings planned in all our markets, including 14 in the UK.”

Revenue saw a nearly 20% increase, rising from £1.06 billion in the previous year to £1.27 billion ($1.61 billion) in the current year.

The rise was credited to a robust rebound in consumer demand and the addition of more restaurant openings.

For the year ending on February 26, 2023, Nando’s Group Holdings disclosed an operating profit of £17 million, marking a significant improvement from the £1.2 million operating loss reported in the preceding year.

The group has successfully navigated the challenges posed by cost pressures, although it anticipates these pressures to persist as a substantial impediment throughout the remainder of 2023-2024.

Papps added, “The 2023 financial year saw Nando’s deliver a steady recovery to pre-pandemic sales and a return to operating profit driven by strong consumer demand for our flame-grilled peri-peri chicken supported by our brand and customer proposition.

“Despite the improved sales performance, cost pressures including higher energy, labour and food prices remained a challenge.”

During August 2023, Nando’s PERi-PERi introduced its fresh summer menu in the United States, showcasing an updated iteration of its PERi-charged bites.

The updated menu was introduced to all Nando’s establishments in Washington DC, Virginia Beach, Chicago, and Houston. Additionally, the chain has intentions to debut its new menu in Dallas, Texas.

The Nando’s PERi-PERi menu features offerings such as the spicy chicken kale caesar, PERi ranch crunch, a rainbow vegetarian bowl, and a PERi chicken rainbow bowl.

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Festive season falls flat for FMCG sector, leaving distributors with surplus stocks

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The national federation of fast-moving consumer goods distributors has reported that subdued demand during the festive season has resulted in distributors struggling with surplus stocks.

“Contrary to expectations, Diwali witnessed subdued enthusiasm for the FMCG sector. Post-Diwali sales have historically been low. Particularly hard-hit segments are chocolates, confectionery and biscuits, followed by beauty, and cosmetics,” said Dhairyashil Patil, national president of All India Consumer Products Distributors Federation (AICPDF).

The majority, accounting for 90%, of total FMCG sales is comprised of general trade.

The federation, representing over four hundred thousand distributors nationwide, stated that the supply chain is currently dealing with an abundance of surplus stocks, requiring distributors to make substantial investments.

“Managing these funds has become increasingly difficult, exacerbated by mounting pressure from companies for primary sales. Distributors, in turn, have stocked up the retail trade, but low offtake during the festive season has left retailers distressed,” Patil said.

Distributors noted that the gift pack segment within these categories has experienced the greatest impact, resulting in an excess inventory overflow among retailers.

The sales of soaps and detergents have also been subdued, and distributors report that the beauty and cosmetic sector is undergoing its most severe downturn.

This trend is causing a significant rise in the average closing stocks for distributors, reaching 25 to 30 days, in contrast to the previous average of 7 to 15 days, as reported by the distributors federation. Additionally, the average market credit period is expanding to a range of 15 to 25 days, compared to the earlier 7 to 15 days.

Patil mentioned that these factors have added to the complexity of the market situation during a period that is conventionally viewed as a profitable season.

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