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Staying relevant – why MiWay embraces social media

Published on: 09 August 2011

Many big brands are still nervous about social media as it undermines the complete control demanded by old-style marketing mindsets. Acknowledging and even supporting the fact that your customers talk among themselves, and want to talk to you (and about you), is very threatening to that mindset.

But at MiWay we believe that engaging in conversation with our customers is the only way to stay relevant to them. And relevance, we have come to realize, is far more important to our business than being first to market.

Staying relevant means we first and foremost need to listen to our clients so that we truly understand their needs, lifestyles and what is important to them. Only through listening can we design and deliver products that people actually want, at prices they are willing to pay.

Learning how to listen is a challenge for most businesses and particularly marketers, who are used to doing all the talking. But we know we can’t count on blind “brand loyalty” any more, from a generation that is constantly bombarded with information. We have to earn that loyalty every day, by delivering great products, at great prices, and following up with fantastic customer service. There is no room for arrogance.

Social media means being really brave, but for brands who take their promises seriously it can be a revelatory tool. Not only do we get to stay in touch with what our customers think, feel and need, we get an army of supporters who will happily recommend us to their friends so long as we deliver what we’ve promised.

This is why MiWay embraces social media.

We’re not a traditional insurance company, so why should we play by outdated marketing rules? We cultivate relationships and interactions with our clients because this way we are guaranteed to stay relevant. We make it easy for customers to find the information they need, when they need it, so they can make properly informed decisions about whether to buy our products. And we know that if we listen and learn from their comments, ideas and complaints, those products are more likely to be attractive.

The more relevant our products are to our consumers, the better for our business. And we believe it’s better for the whole industry too; being respectful and responsive is the way we build trust.

The rules of the game have been changed. The days of the dog and pony show, where the big corporate talks and the consumer listens, are forever over. The new rules are: Listen first, talk later. Ignore it at your peril.

Kind regards,

René Otto