Six steps to improve customer retention

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Customer retention is ultimately driven by value. Even the best segmentation, targeting, positioning, creative messaging or promotion with flawless execution will fall flat in the absence of value. In developing a plan to maintain and upgrade a customer base it is necessary then to build on solid foundation. Then, and only then will the steps unlock the door to greater customer retention and overall organizational success. To succeed, customer retention must be a top-down, company-wide initiative. Truly committing to customer retention is hard work, because it affects virtually every aspect of your organization. But the ultimate payback in sustainable growth and profitability makes the effort worthwhile. The path to customer retention involves six key steps. (more…)
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Nike’s ambush marketing yields results

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Simply put, Ambush marketing occurs when a company signs on to sponsor an event as official sponsor, and a rival hijacks the mind space through backdoor means. It is a concept that describes the actions of companies who seek to associate themselves with a sponsored event without paying the organizers. The ambush consists of giving the impression to consumers that the ambusher is somehow affiliated with the event. Ambush marketing can provide some, if not most, of the benefits of a legitimate, paid-for sponsorship at relatively little cost. See the Nike ad here A recent article in the The Sydney Morning Herald certainly highlights as how clever you have to be to gain an advantage when you use ambush as a strategy. (more…)
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Marketing to Senior Citizens

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In comparison to younger people, people in the mature market do this: save/invest more; spend more on luxury products and services; shop during morning hours; prefer “one-stop” shopping; consider shopping to be a social event; are very convenience-oriented; patronize reputable/traditional outlets; seek personal attention and special services such as valet parking and gift wrapping; choose products based on quality and brand name; are less price conscious and deal prone; use credit as often; are as likely to show non-significant responses to sweepstakes and telemarketing; and complain less when they are not satisfied with something they have bought. So how do we convert these into profits? Read on to see the typical 4 Ps of marketing for the seniors market. (more…)
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Engagement marketing – It’s about time

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Engagement marketing aims to engage people. It encourages them to participate in the evolution of a brand. Customer engagement and conversations are what marketing is all about. Rather than looking at consumers as passive receivers of messages, engagement marketers believe that consumers should be actively involved in the production and co-creation of marketing programs. Recently I read an interesting article "Brands fail to follow rules of engagement" in Marketing Week. I was always aware of engagement marketing but I needed to dig a bit deeper to write something about it. Engagement is a marketing approach that—in contrast to traditional brand and direct marketing strategies—allows a brand’s customers and prospects to shape the company’s marketing. People choose what messaging they will receive, and in what channels. Engagement marketing begins at the moment…
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