Can Better Marketing Lower Costs?

21 Sep

A yes answer to this question is not necessarily a dream or an impossibility: Can better marketing lower costs? Some companies generate weak performance profits even with high marketing expenditures. We’ll mention no names! Nonetheless, it is possible to do better marketing with lower costs. 🙂 Click here, for example.

Especially relevant are recent observations byKushal Dev for Customer Guru: 

“In today’s competitive world, customer experience gives a strong competitive advantage. No matter the company size, customer experience must be at the heart of every organization. And the effort to improve the customer experience can pay rich dividends with new, more, and repeat customers. The firm then earns the respect and love of its customers and the benefit of their referrals. And if it continues providing excellent service, it will generate even more referrals and higher profits.”

“So, how do you design a low-cost customer experience strategy that works? Here are a few ideas to improve the customer experience of your business without increasing costs.”

 

Furthermore, if they effectively enhance the customer experience, companies become better marketers and keep costs in reason. As a rule, not every marketing cost is customer-experience oriented. Thus, waste occurs. Accordingly, here are some of Dev’s tips. As a result, by enacting them, firms can improve the customer experience AND maintain reasonable marketing costs. Then, they can answer yes to the question: Can better marketing lower costs?

 

Most of All: How Can Better Marketing Lower Costs?
  • Communicate goals to all employees — A customer-centric leader ensures that customer centricity is the DNA of the organization. And every employee in the organization, from the senior management to the intern, must align with this vision.”
  • Appreciate and value your customers at the onset — Because competition is intense, every firm must know that every time a customer chooses its product, he/she trusts the brand.”
  • Avoid going overboard with advertising — Your current customers don’t need to be reminded at every possible instance and through every available channel about new products. Also, a fine line exists between marketing and becoming a nuisance.”
  • Value and love your employees — Engaged employees bring in engaged customers. Hence, organizations must do all they can to ensure employees are satisfied.”
  • Train and empower employees— Finally, coach employees to ensure they understand the needs of the customer. Importantly, enable employees to make decisions. Thus, response speed to the customer gets better.”

 
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Some companies do generate weak performance profits even with high marketing expenditures. Nonetheless, it is possible to do better marketing with lower costs. Yes: Can better marketing lower costs?
 

5 Responses to “Can Better Marketing Lower Costs?”

  1. Faith Pappalardo September 24, 2017 at 2:12 pm #

    This post emphasizes the importance of employees knowing the company’s goals. I agree that this is a key part of any successful marketing strategy because the employees are the people who have a direct effect on the customers experience. If the employees are treated well and feel valued then they are more likely to be welcoming and helpful toward the customers, bettering the business as a whole.

  2. Jordan Venditto September 26, 2017 at 1:47 pm #

    The most effective marketing is word of mouth, if you keep customers happy they will tell people about your business or service. On the flip side, if you upset a customer they will tell even more people about how unsatisfied they were. The customer experience gives your company an edge on others. As the blog said you need to appreciate and value each customer as well as employees. If your employees are happy so will your customers.

  3. Brianna Powell September 26, 2017 at 9:22 pm #

    A lot of people really hype up expensive designers and professionals to do their business’ marketing, but good, effective, design can be incredibly more simple than originally thought. Less is more in some cases and that’s what customers need sometimes; advertisements and commercials and other platforms of marketing are constantly in our faces, so it’s a relief to see something designed that allows our eyes a break and actually let’s us consider a product or service for what it’s truly worth.

  4. Rebecca September 27, 2017 at 3:36 am #

    I believe that better marketing can lower costs, because it all revolves around satisfying the consumers. If the customer is satisfied, they will continue to support that certain brand, thus ruling out other competitions. The main reason why businesses loose money, is because other competitions out-do them, but if businesses create loyal consumers, due to excellent customer service and customer appreciation, then those customers will continue to spend their money on that business. This will result in lower costs, because those businesses won’t be in such a demand to raise prices due to low income.

  5. Arbaaz Khan September 27, 2017 at 1:18 pm #

    The success of a company depends on the happiness of their customers and employees. It is essential that the employees are respected and valued because they are the ones that give customers their first impression on a company. For example, if you walk into a store and you are not greeted by the employee up front and are ignored when needing help, you would have a bad view of the company from the start.

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