Tag Archives: success

A New Golden Age for Marketing?

10 Mar

The modern field of marketing has had a nice long run — and steadily evolved along with technology and customer trends. So, has the marketing discipline peaked or are the best times still ahead?

According to McKinsey’s Jonathan Gordon and Jesko Perrey, we are entering “the dawn of marketing’s new golden age. Marketers are boosting their precision, broadening their scope, moving more quickly, and telling better stories.”

To summarize Gordon and Perrey:

“Science has permeated marketing for decades. Fans of the television drama Mad Men saw a fictionalized encounter when an IBM System/360 mainframe computer physically displaced the creative department of a late-1960s advertising agency. In reality, though, the 1960s through the early 1990s witnessed a happy marriage of advertising and technology as marketers mastered both the medium of television and the science of Nielsen ratings. These years gave birth to iconic advertising messages in categories ranging from sparkling beverages (‘I’d like to buy the world a Coke’) to credit cards (‘American Express. Don’t leave home without it’) to air travel (‘British Airways: the world’s favourite airline’).”

“Until recently, marketers could be forgiven for looking back wistfully at this golden age as new forces reshaped their world into something completely different. These new trends include a massive proliferation of television and online channels, the transformation of the home PC into a retail channel, the unrelenting rise of mobile social media and gaming, and—with all these trends—a constant battle for the consumer’s attention.”

“The resulting expansion of platforms has propelled consistent growth in marketing expenditures, which now total as much as $1 trillion globally. The efficacy of this spending is under deep scrutiny. For example, in a survey of CEOs, close to three out of four agreed with the following statement: marketers ‘are always asking for more money, but can rarely explain how much incremental business this money will generate.’ Chief marketing officers (CMOs), it appears, don’t disagree: in another recent survey, just over one-third said they had quantitatively proved the impact of their marketing outlays. Paradoxically, though, CEOs are looking to their CMOs more than ever, because they need top-line growth and view marketing as a critical lever to help them achieve it. Can marketers deliver amid ongoing performance pressures?”

Click the image to read a LOT more.
 

 

Globally, Brick-and-Mortar Stores Still Alive and Kicking

8 Mar

Despite perceptions to the contrary, on a global basis, the brick-and-mortar store is not fading away in the face of online and mobile shopping — as long as such stores are committed to customers and adaptive to the times.

eMarketer reports that:

“Customer satisfaction may be down in the U.S. for brick-and-mortar retailers, but globally, the physical store is still the most popular purchase location. In a September 2014 study by PricewaterhouseCoopers (PwC), seven in 10 internet users worldwide said they bought products in-store at least monthly, and more than half of that group did so weekly or daily.”

 

“One online channel gave brick-and-mortar shops a run for their money. Digital buying via PC ranked second, with the majority of respondents purchasing there at least monthly. However, all other digital channels were used far less frequently for purchasing. For example, fewer than one-quarter purchased products via mobile phone or smartphone at least monthly — providing more evidence that mobile is still mostly for upper-funnel shopping activities — and despite the fact that tablet users often show similar behavior to PC shoppers, buying frequency was almost the same as that on phones.”

Click the image to read more.
 

 

See How Well You Can Do on This Entertaining Marketing Quiz

27 Feb

Are you a smart marketer? How smart? :-)

Here’s a fun quiz from Chief Marketer. Click the icon to access: “ARE YOU A PROMOTION MARKETING PRO OR SCHMO? Take this quiz to find out if you are the ultimate Chief PROMO Marketer. Get 5 out of 5 correct and be entered to win either a $25 or $50 Starbucks gift card!”
 

 

What Any Marketer Can Learn from Amazon Prime

3 Jan

Although some firms truly get the value of strong customer loyalty programs, there are others that still don’t. The current king of customer loyalty programs is Amazon with its Amazon Prime.

The effectiveness of Amazon Prime is noted below. But let us first describe why the program works so well:

  • There are multiple options: Amazon Prime, Amazon Prime for Students, and Amazon Prime for Moms.
  • There is a charge to participate in the program, which means that members will patronize Amazon to be sure they receive benefits for which they pay.
  • The benefits are numerous and desirable:
    • Free two-day shipping for many items with no minimum purchase amount — and the possibility of free Sunday deliveries through the U.S. Postal Service
    • Kindle Lending Library — one free monthly download on select E-books
    • Prime Instant Videos, many of which can be viewed for free
    • Prime Music — many songs available for free streaming
    • Prime Photos — free unlimited photo storage on the Amazon Cloud

How effective is Amazon Prime for the retailer? According to eMarketer:

“In September 2014, RBC Capital Markets surveyed more than 4,000 Amazon customers in the US and found that 37% were Prime members. How important are loyalty programs to regular customers of the E-commerce giant? If their purchasing habits are any indication, then very.”

“Prime members are more likely to order items from Amazon.com because they know the items will be shipped quickly. Prime members also spend more. While non-Prime customers said they had purchased items with prices below $25 and between $25 and $100, Prime members were throwing down money for bigger ticket values. The disparity between the two groups’ purchasing habits showed most starkly beginning at the $201 mark, where 18% of Prime members compared with only 8% of non-Prime customers.”

Click the chart to read more from eMarketer.

Don’t Forget Small Business Saturday

26 Nov

Nestled in between Black Friday and Cyber Monday is a newer shopping promotion called “Small Business Saturday.” It generates several billion dollars in revenues annually. Founded by American Express in 2010, this shopping day is intended to promote the importance of supporting local businesses:

“In 2010, American Express founded Small Business Saturday to help businesses with their most pressing need — getting more customers. The day encourages people to shop at small businesses on the Saturday after Thanksgiving. The single day has grown into a powerful movement, and more people are taking part than ever before. This year, the big day is Nov 29.”

Small Business Saturday 2014
 
To assist small firms, American Express offers many tips. Click the image to see them.

Small Business Saturday 2 2014
 
And to assist shoppers, American Express has a locator for participating stores. Click the image to access it.

Small Business Saturday 3 2014
 

The Story of How Google Works: A Slideshow by Eric Schmidt et. al

6 Nov

Here is an interesting slideshow from Google that covers its evolution as a company. Fun stuff.

 

 

Social Media Success: Three Examples

28 Oct

Many social media campaigns do not live up to company expectations. We can learn a lot by studying the successful campaigns of others.

Sanderson, which delivers software for manufacturing and multichannel retail, has put together a slideshow illustrating three good global social media campaigns, by Topshop, Tesco, and Toys “R” Us. The slideshow also offers several tips.

 

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