If you have noticed recent LIC Ad played on TV one can realise how much companies are customer focus and care for its customers. One important aspect we observe during insight research that there is a difference between what customers say and what they do. What they do give more actionable insight.
Likewise companies may say and slogan that they are customer friendly. Even they put up the same in their mission statement. It is in vogue these days. But most companies just say that but don't do things in commensurate with what they say and shout.
The LIC Ad in reference talks about product features for say 90% of the time slot and in 10% time slot they talk about what IRDA has asked them to speak in the interest of the customers. Do they not know that what they speak in so much of hurry is not possible for any human being to understand? Absolute compliance focus mindset without even bother to know whether it is achieving its purpose. They have money to market their products but no money to educate and caution the customers - forget voluntarily but even statutorily.
This is the largest & Govt insurance company of the country. How can we expect other private companies to follow IRDA guidelines? Today even IRDA instructed another large Govt Company SBI life to refund premium of Rs.275/- crs - Why ? They mis-sold the policy.
While we are on Ad, another Ad which drew my attention is Audi 40 points Ad appearing in newspaper since couple of days. They expect people to read all 40 points assuming people are free for this. In this attention deficit world advertisers must draw attention smartly and also communicate crisply. How about if Audi Ad has classified all these 40 points on need, ease-convenience and delight categories? People will read what is relevant for them & that too quickly. Just listing 40 points means I lost my attention on 7th and missed some very important distinction which was somewhere below.
Communicate with potential customers what you really need to communicate. Your over enthusiasm about your products and services many a times may miss the real communication. Become customer to know your customers. Simple but..........difficult.
This is the reality across all industries.
In such scenario imagine a blue ocean available to the company which is actually keeping customers at the center in letter & spirit and offers delightful experience. It is a huge advantage. Customers are looking for such a company to embrace.
