Tag Archives: analytics

LinkedIn Exec: Marketers Make Great CEOs

10 Dec

Russell Glass is Head of Products for LinkedIn Marketing Solutions. He was formerly the founder, president, and CEO of Bizo, a B2B audience marketing and data platform. Glass is also the co-author of a new book titled The Big-Data Driven Business: How to Use Big Data to Win Customers, Beat Competitors, and Boost Profits.

In a recent article for Adweek tied to his new book, Glass says that:

“The rising importance of data to companies (organizations in general and marketing departments in particular) is changing the perception of marketing’s value. In fact, marketing is now so important that CMOs [chief marketing officers] will make the best next-generation CEOs — thanks to their understanding of data and the customer. Only the marketing department has a clear window on the behavior of the prospect during 90 percent of the buyer’s decision making — the time spent doing research via visits to Web sites, reading online reviews, connecting with peers on social media, and conducting online searches.”

“The CMO’s team has the clearest window into customer and prospect behavior. To sales, the CMO delivers the leads most likely to buy to sales. To finance, the CMO shows his or her team’s revenue contribution. And with IT, the CMO helps built out the marketing technology stack that mediates critical interactions with customers and prospects. The winning companies of the future will be data-driven and customer-focused. No one is in a better position to lead this kind of company than the CMO — the executive who is eminently qualified to be your next CEO.”

Click the image to read more of the Adweek article. Click here to access Glass’s book on Amazon.
 

 

Will Chitter Make It?

2 Dec

Chitter is “an app that rewards you with free offers and special discounts for doing something you already do: posting photos to your social media! Available now, use Chitter to discover new local businesses and local hot spots, and get rewarded for using it! Sign up to stay updated with all things Chitter.”

According to Marketing Tech Blog:

“Chitter is a location-based discovery app available on Android and iOS. By sharing photos, your customer now markets and promotes your products, services, and experiences for you. This can dramatically increase your reach and visibility on social media, decrease new customer acquisition costs, and increase customer retention.”

“Chitter is free for businesses to sign up and and only takes a few minutes to set up. You’re free to upload as many Chits as you’d like to be visible on your business or organizations Chitter display results on the mobile app. Chitter does have premium features that make the offers indexed by search engines, acquire user E-mail addresses, and observe analytics of your customers’ demographics.”

 

 

How Should Marketers Utilize Snapchat?

29 Nov

As we wrote two months ago, Snapchat – the social media site where people can post photos and videos that are viewed and then disappear — is now three years old.

But from a business perspective, Marketo (a digital software firm and information provider) asks: “Is Snapchat an application brands can successfully use to reach their customers? And if so, what are some best practices for using Snapchat in a marketing capacity?”

Here’s a Marketo infographic that addresses these questions.
 

 

The Value of Customer Referrals

21 Nov

We know that positive customer word of mouth (in person or electronically) can have a dramatic impact on firm performance.

Here is a nice infographic by Forewards, a specialist in customer referrals for small firms:

“If your business is like most other retailers, online or bricks-and-mortar, you probably rely on the holiday rush to play a huge part of your success every year. This year, in particular, the National Retail Federation (NRF) is forecasting that in the United States retail sales as a whole will be well over $600B this holiday season. That’s a pretty huge opportunity. No doubt, a good portion of those sales will happen online as well. This begs the question. Is your online store ready for the holiday rush? We’ve provided a number of actionable tips and techniques in this blog which we hope was helpful. if you haven’t yet acted on some of these suggestions the time is now.”

 
The Science of Customer Referrals - Holiday Edition
 

For Marketers: Big Data Marches Ahead

14 Nov

In what areas are big data having the biggest impact?

Check out research reported by eMarketer by clicking the chart.
 

 

Social Media and the Purchase Process

30 Oct

We marketers often talk about the consumer’s buying process (awareness->interest->desire->action, for example). We recognize that the Web now plays a huge role in this process. But where do social media fit?

As Dynmark, a cloud-based mobile messaging and intelligence platform, notes at Visual.ly.com:

“Social media have become a massively important part of people’s lives across the globe. Boosted by the growth of the smartphone, users have become more and more focused on individual moments, which they can share. Sharing, posting, and chatting with friends has become an almost constant activity as people all over the globe snack on miniature content whenever they like. As a by-product of this, social media have a significant effect on retail, online, and in store. So how can brands use this to their benefit?

 

Take a look at this infographic from http://www.mobiledonky.com.
 
How is Social Media Affecting the Buying Process

 

Marketing to the Right Segment

14 Oct

Most companies (of any size or type or location) use some form of market segmentation in their strategies. They recognize that they should not try to market to everyone but rather focus on a specific group or groups with offerings and marketing communications targeting a specific segment of customers. BUT, are all companies targeting the right customers — and are they doing so properly? Of course, the answer is no. So, how can we do better?

As Ira Kalb, a professor at the Marshall School of Business (University of Southern California), writes for Business Insider:

“As a first step, businesses should find the right ‘ballpark’ in which to operate. An effective way to begin this process is to do a SWOT analysis. For those that do not already know, SWOT is an acronym for Strengths, Weaknesses, Opportunities, and Threats.”

“While you already have to have some idea of the market opportunities you want to pursue when you do the SWOT analysis, it is very important to define the marketplace your company is going to target. This may require some trial and error experimentation. Defining the right market follows the Goldilocks and the Three Bears metaphor. If the market you define is too big, you will be wasting your marketing resources trying to cover it. If it is too small, you will not make enough money (based on the share of the market you can capture). You need to define your market so it is just right. That is, you’ll make enough money to produce a sufficient return on investment, and will be able to cover the market with the marketing resources you can invest.”

“Whatever criteria a business uses, the way a company defines the market for its business could mean the difference between profit and loss. While there are often greater costs to service larger markets, there can also be larger returns and economies of scale. The more a business thinks about how it will define its marketplace, the better it will be able to succeed and scale the business as it grows. Hopefully, you will get it right, and if you don’t, all is not lost. A good marketing information system can help you to fine tune your market definition so you can get back on the right track — as P&G did with Febreze.”

To read more of Kalb’s article, click the image.

 

Photo credit: Flickr/Geoff Gallice

 

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