Mindful Marketing: The Win-Win Strategy That Benefits Everyone
Today’s consumers are more ethical, more socially aware, and willing to make a switch from popular brands to those with a purpose. In the increasingly competitive online high-street, small businesses are wondering how to make a big impact with a fraction of the budget. The answer lies in Mindful Marketing.
When you hear mindfulness and you may think effortless yoga poses against a magnificent backdrop or hashtag trends on Instagram. You may even find it difficult to separate the two.
In 2018, the Mindfulness Market was valued at 130 billion and is set to continue to grow at a rate of 8.5% in the next ten years. It is certainly an area of the digital market that I specialise in but it’s not what I mean when I say Mindful Marketing.
Put simply Mindful Marketing is a customer-centric approach that values all sides of the buying process and prioritises the interests of both the brand and the customer. Mindful Marketing seeks to align marketing and consumer needs for the purpose of creating win-win strategies.
This is marketing that prioritises long-term benefits for those involved in the exchange as well as negating wasteful, unethical, unsustainable and manipulative practices.
Mindful marketing connects Brands with their ideal audience and consumer’s with the businesses that can genuinely meet their most pressing needs.
The Death of Traditional Marketing
With more business happening online, the competition is fierce. Consumers are tech savvy and far more aware of marketing techniques. Businesses and their target audience not only share the same platforms, but are equally capable of creating their own content. In an environment of rapidly changing social networks with highly innovative users, marketers are struggling to standout.
There is no denying that when it comes to prime advertising real estate, social networks are top tier.
Unfortunately, its primary audiences have grown blind to pop-up adds with a special aversion to aggressive traditional marketing strategies. And while Generation Z may be the new trendsetters with plenty of influence, it’s their Millennial counterparts that have the true spending power.
The Millennial Impact on Marketing
As of 2020, Millennials have surpassed Baby Boomers as the world’s largest generation and they have now reached their prime spending years. With a demographic ranging from 24 – 40, Millennials are the core consumers of milestone related products from weddings to baby care. Not to mention avid followers of health and fitness trends with a large stake in the food industry. Skincare, pet food, and gardening products for the environmentally conscious are all tipped to capture Millennials spending.
The catch is, not just any company will do. Both Generation Z and Millennials place high priority and brands that exercise corporate social responsibility. Millennials are more aware of company activity than any generation previously with a whopping 73% of Millennials asserting that they would be willing to pay extra for more sustainable brands.
When it comes to connecting with target audiences, honesty and integrity is key.
Why Mindful Marketing is the Way Forward
Millennials prefer brands with a purpose with 91% willing to switch customer loyalty to those who support a cause. This means businesses can no longer rely on click bait advertising or novelty campaigns to increase conversions. Millennials will easily switch to another site regardless of what items are in their virtual basket.
Google has also caught on to the changing tides of online surfing with their algorithms now prioritising context as well as content. Keyword stuffing is officially out and quality content that enhances the audience
is in. Marketing is no longer about self-promotion but helping consumers. Those who invest in their brand reputation through creative content and authentic social media engagement have seen substantial growth in business.
This means getting to know your audience, making a significant social impact and providing content that inspires and empowers. How? By investing in quality content creators and copywriters like me.
How to Implement Mindful Marketing in 9 Easy Steps
Treat your target audience as people not numbers. Learn their values and listen to their needs.
Align your marketing with your brand’s core values and those of your target audience
Prioritise relationships over transactions when engaging with consumers
Think community over competition. Practicing reciprocation with other brands and producers.
Be thoughtful with your content. Consider if the content you produce respects the mindset of the audience using your platform.
Show don’t tell. Audiences are becoming far more sceptical of advertising campaigns, misleading information or click bait will only harm longterm.
Seek to inform and inspire your audience. Providing educational resources to your consumer base will only increase your authority within your industry.
Engage with your target audience on social media. Respond to their concerns and provide solutions.
Consumers are craving authentic connection with businesses. Show the individuals behind the brand, practice transparency where possible.