Empowered Consumers Drive the Circular Narrative

Brands have already begun the game of transforming their customers into content creators, giving impetus to the renewed popularity of circular marketing wherein the influenced becomes the influencer. 

With social media being home to a diverse group of consumers, enters an opportunity for brands to turn them into active community influencers. Hence, a brand is no longer just a message, instead, it’s a conversation where 90% of the people are more likely to trust a brand recommended by others. 

This allows marketers to hold the reins, inspiring customers to become their brand voice. They have already taken their position in the game of transforming customers into content creators, giving impetus to the renewed popularity of Circular Marketing wherein the influenced becomes the influencer. 

We will equip you with all that it takes to understand how circular marketing is helping brands gain customer trust. 

What is circular marketing and its impact on brand revenue? 

Unlike an old-school way of cost-effective and eye-catching marketing strategies, circular marketing strategies represent unique ways to showcase the mission and vision of a brand. It is a way of attracting and influencing the ecologically-conscious customers with innovative campaigns. Consequently, it enables marketers to connect with customers, building a bond of trust, transparency and empathy. 

For instance, H&M group, a fast-fashion clothing brand, has launched its garment collecting program that disseminates the message of recycling clothes as its initiative towards a sustainable tomorrow. According to the program, every time a customer donates their old clothes at the H&M store, they get special discounts on the latest collection. Not only did this initiative impact their customer retention strategy, but also contributed impressively to their revenue journey. 

Let’s dig deeper and understand a few more examples of how various circular marketing tactics are an avenue for brands to enhance customer engagement and trust. 

Also Read: Top 10 Global Marketing Influencers To Watch

How is circular marketing strategy an opportunity for brands to enhance customer loyalty? 

As marketers experiment with various circular marketing strategies, these are some outcomes that are bridging the gap between brands and their customers: 

• Helps target eco-conscious customers, further prompting them to promote the brand’s product or service via word of mouth or various other marketing channels 
• Offers a chance for marketers to collaborate with booming sustainably-focused brands in a similar field to target a broader sphere of customers cost-effectively 
• Enables businesses to gain a competitive edge in the thriving industry with a touch of innovation
• Assists brands in rebuilding their reputation as an escape from the conspiracies of building environmentally hazardous products that negatively impacted their reputation, further reducing their sales 

Here is an overview of various sustainable branding and marketing campaigns that are reducing customer churn rates

Kraken’s “Hour Of The Kraker” Campaign

Previously highlighted for its marine conservation charity collaborations, Kraken Rum recently appointed the Goat agency for its influencer ambassador program. Titled with the concept of “Hour Of The Kraker,” the campaign involved creators “striking gold” in the form of a custom-made wooden PR box, revealing the Kraken Gold Spiced Rum as a gift from the seas. 

The idea behind this innovative campaign was to encourage influencers and creators to come up with their own ‘#HourOfTheKraken’ tale. 

Urbanic London’s Initiative to Support Sustainability And Craftsmanship

Urbanic, a clothing brand partnered with the Clothes Box Foundation, a non-profit organisation that reaches the need with clean and upcycled wearables to prevent clothing waste. This campaign, named “Turn Around The Fate Of Our Old Stock”, empowered several women to create unique dresses out of cloth straps, further contributing to the brand’s CSR (Corporate Social Responsibility) and sales. 

Summing it up, consumers are a brand’s voice, and thus, marketers need to incorporate different approaches to influence them. Circular marketing is one of them and will become a new revenue generation stream for brands. Besides that, it will enable brands to gain a competitive edge in this ever-evolving market whilst being sustainably responsible.