I have a peer group colleague who is the president of a dental insurance company. Over the last five years his company has experienced triple-digit growth. He attributes their success in large part to the high level of customer/member service they deliver to their participating dentists and insured individuals. He and his team developed a Read the rest of this entry »
Did you take note of Starbucks’ announcement to roll-out a nationwide discount program for morning patrons to get an afternoon iced drink at half-off? At the least you have to look at it as an interesting development for the marketer of a high value proposition.
“Discount” is a word used heavily by many. A quick Google search revealed you can find the word on 455 Million pages. Starbucks’ decision to use it as a traffic builder to boost lagging sales was described as, “hitting the nail on the head”, by Brad Stevens, the chain’s VP of customer relations. It remains to be seen if it has long-term impact on their customers’ value perception.
There’s an eternal discussion among marketers about the “slippery slope” of discounting. Arguments can be made often for introducing discounts as a temporary tactic to move the needle. The lasting effect of discounting can sometimes lead to erosion … not only in margin, but in the way a brand is perceived.
Starbucks made a significant investment in establishing themselves as destination, creating a certain set of “brand permissions” among their loyal consumers. My guess is you could ask a hundred people what they think of when you say Starbucks and not one of them would say discount.
What’s your opinion? Risky move, or smart reaction to a tough economy by a marketing superpower? Let me know what you think.
By Craig Barnes on Monday, August 4th, 2008 | Comments Off
A recent study through the Pew Internet & American Life Project revealed that six out of 10 adults viewing video online prefer that those videos are produced professionally . If you are thinking about using online video to bolster your marketing efforts, this is something you’ll want to consider to ensure that you maximize your return on investment.
57% of online adults use the internet to watch or download video, according to the study. And of those, 19% report doing so daily. There is no doubt that marketers see this as a viable component of a multi-channel marketing platform.
eMarketer reports that 80% of all internet users will watch at least one video in 2008. If you’re counting, that’s 52% of all Americans, or 154 million people.
News-centered content is the most watched. Think about how you can leverage that preference to benefit your business-to-business efforts. Both customers and prospects are actively seeking reliable content sources. If you can become one of them, offering professionally produced online video that delivers timely information about your industry, products and services, your relevance to your targets is increased.
Are you as amazed as I am that so many companies make it difficult to do business with them. Cable and wireless companies … hello? And yet when you have an encounter with a company that makes the buying experience pleasant and productive, you have to wonder why everyone doesn’t see the light. I had such a experience yesterday. Read the rest of this entry »
If you are a regular reader of this blog you know that I frequently talk about the “gold mine” of information that resides in operational data. Leveraging the information can improve marketing ROI dramatically … and quickly. Another buried treasure among all that data is information that can help you detect customers at most risk for defection. Read the rest of this entry »
For years, Cadillac’s focus was to affirm the buying decision of those who purchased one of their vehicles. Here’s an old ad that speaks about the women who drive a Cadillac. Read the rest of this entry »
It’s no secret that marketing as we knew it is no longer. Traditional strategies, ideas and formulas have an increasingly marginal role. One-to-one communication and peer sharing is transforming the success equation.
I came across an interesting video from Brian Fetherstonhaugh, Chairman & Global CEO of OgilvyOne Worldwide. He makes the point that the pillars of marketing since the 60’s: Product, Place, Price and Promotion are being replaced. Instead of the four “P’s, he sees them as the four “E’s”
Before you watch the video, write down what you think are the four “E’s” and compare answers.
I’m standing in line with a cart full of groceries while on vacation last week at a beach community in North Carolina. Like most who rent a house for a week or two, soon after arrival you venture to the local supermarket to stock the larder with a carload of groceries. Of course, you walk into the store about the same time as a hoard of others who have just checked-in to their houses, too. You get the idea, it’s crowded.
And, then as I’m standing there, I overhear a checkout associate say to another associate … “I hate this. I absolutely hate this crush of people. They’re all in a hurry to rush back to their precious beach houses. They make me sick.”
As I hear this I look up at a huge sign that read: Welcome! We’re Down Home, Just Down The Street.”
Even though I was doing my best to “disengage” from thinking about work for a few days, I couldn’t help but think about the CMO, his staff and agency that developed the tag line to reflect how they wanted their customers to feel about their shopping experience. Not only was the associate way out of alignment with the brand , she apparently possessed little sense of a customer’s value to her livelihood.
It was a good reminder that for every dollar we spend to market a product or service, we need to consider the resources needed to ensure that those charged with carrying out the brand promise actually do so.
In an earlier post we talked about how the “green” movement is impacting marketing efforts. Here is a short video about the anticipated market size of “green” consumers, what they respond to and how companies need to approach these targets.
