Smart Ideas to Involve Your Board on Upcoming Marketing Activities

Smart Ideas to Involve Your Board on Upcoming Marketing Activities

Articles
Companies are concerned about their boardrooms. As a result, a number of organizations have become responsible on how their customers are engaged. How their marketing progress has been redefined by developments like those of social media, the mobile web together with thriving data even though some companies have different dynamics on how to engage their board members. How to bring the board into market One of the Asian technology-service companies realized the importance of board in marketing when directors were taken for a vocation to visit innovators and peer companies within the United States and later in Europe with their new CEO. The purpose of this vocation was to educate them about the importance of basic changes and make the board members appreciate the fundamental changes in growth of the…
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The Big Bang Of Social Media On Business

The Big Bang Of Social Media On Business

Articles
As the use of social media grows more prevalent among consumers, business owners have had to step up their use of this powerful communication tool to maintain their competitive edge. Initially presented as a way for people to stay in touch with one another and to develop new connections and relationships, social media has become an essential aspect of marketing, customer feedback and retention as well as a new way to recruit promising job candidates. Instant Feedback from Customers Your business may have once relied on response cards for customers to fill out to evaluate the goods and services you provide or fielded complaints and praise in person or over the phone. It takes a lot of effort for customers to give you feedback, however, using traditional means. With an…
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Why you need one loyalty strategy for customers AND employees

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Loyalty is a fluid concept. We are loyal to our football teams, but are we really loyal to brands? Equally, can you ever be truly loyal to an employer? Understanding loyalty is key to understanding the strategies that strengthen loyalty, and this applies for both customers AND employees. They’re both human beings, and they both understand that loyalty stems from no more than the memory of past interactions between your brand and that person. They’re both human beings who dictate the profitability of your business through their engagement with your brand. If customers love it, they buy it. If employees love it, they sell it. That’s why, as a business, you need one loyalty strategy Building a strong brand We may have strong external brands, but do we back that…
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What is co-branding and how it can benefit companies

Articles
Co-branding, as the name suggests, is the phenomenon wherein two companies merge their brands to produce one type of service or product. This doesn't necessarily mean that the two organizations will merge together to form a single corporation. While remaining as separate entities, these two can join forces in order to produce a product or service that caters to a certain need of their consumers. In a way, this is a true partnership, as the two organizations will end up with a win-win situation as a result of co-branding. How the partnership will work will depend on what the two organizations agree on, although it is important that the relationship should be mutually beneficial. It's not necessary for the co-branding to result in a new brand. In some instances, the product carrying the…
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Five key ways to revitalize your marketing team

Articles
When you have a new marketing team, the team begins with a high energy level and members are excited about the challenge being given to them. Generally speaking, after the first year, the team can experience a slump that could stall progress on the team's marketing initiative or put an end to its future achievements. I guess after the freshness of being a part of a team has worn off, team members begin to raise the inescapable what's-in-it-for me question. In the beginning, the chance to have more input in decisions might be adequate to keep the marketing team motivated. As the team moves further along acknowledgement of individual and group contribution might be sufficient to keep member interest high. But as a team's efforts begin to show an impact on the…
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Marketing specialisation segments

Marketing specialisation segments

Articles
Last week while having a drink I asked an acquaintance as what she was doing, she replied “marketing”. Intrigued as I am, this forced me to ask further two questions “what do you mean and what sort of areas you specialise in”. Well, she started outlining her entire PD! I believe that in today’s world it’s very important to know what the main marketing segments are and where you have your skill set/s. The list below will help you identify your area of expertise: (more…)
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Marketing dashboards can be effective

Marketing dashboards can be effective

Articles
Last week I was discussing marketing measurements tools with a marketing manager in the services industry. He asked me an interesting question “Do you think having a marketing dashboard is important?” It is no secret that measuring marketing ROI and effectiveness is important to access how your campaigns are going. But, the question really made me think as what should be the elements (you want to track) to make the marketing dashboard really effective. Please keep in mind that every business is different, so you will need to prioritise and customise the measurements that are truly important. What I have outlined here can be a good place to start thinking of different measurements you would want to see on your marketing dashboard. (more…)
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Tailored Strategies for Customer Churn Management

Articles, customer retention, loyalty, marketing, strategy
Customer churn in the services industry is still a growing issue, primarily because many consumers have little or no allegiance to a particular service provider. So, how do we solve this? The answer is knowledge: know your customers and know your prospects. As retailers are the customer-facing end of the sales cycle, much of the responsibility for producing customer loyalty has to lie with them. I know many companies who collect vast amounts of data for ensuring risk management procedures. However, this information can be converted into a powerful tool to reduce churn by helping to answer three basic questions: How do I sign up profitable customers? How can I enhance loyalty with my most profitable customers? How do I handle my existing customer base? (more…)
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Keeping the pace with customer expectation

customer retention, loyalty, marketing, strategy
The significance of data is that you can see behaviour change daily. If a trend emerges from analysis of your data, it is appropriate to review marketing strategy and assess the success or relevance of the plan under way. The data and the insight they provide become an extremely precious indicator of customer satisfaction. Data linked to loyalty programs becomes a rich source of market research. It is not what people say they do but what they actually do. Naturally, market research still has a valuable role, it is still required to determine why customers have changed but its use has become even more focused. By analysing your loyalty program data, you can recognize which of your customers visit frequently (and spend a lot) which ones visit infrequently (but still…
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Customer retention is not easy but it is rewarding

Articles, customer retention, loyalty, marketing, strategy
Customer retention programmes have historically had insufficient priority in most sectors, but then the forces affecting customer churn, and therefore the need for retention focus, have never been so great. The idea is not new. What is new is the approach. What is now being witnessed is a market increasingly commoditised and far more susceptible to competition - from other players and from new media. Customer knowledge and confidence have had a significant impact: it has become so much easier to compare and to swap products. Changing sales structures and wearing away of face-to-face interaction have helped to dilute or eradicate conventional 'loyalty'. What direction does this give the services marketer? It leads the way to a re-examination of profit drivers and a critical evaluation of current programmes. The business…
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