Systematic, integrated, goal-oriented marketing plans are vital for long-run success. For example, see “Developing a Marketing Plan”.
Here are a number of marketing plan templates and sample marketing plans that provide good insights on how to better develop and enact marketing plans. Click on the links to access these templates and sample plans.
Here is the in-depth planning tool from Marketing Plan Now.
As we know, millennials have surpassed baby boomers as the largest demographic age group in the United States. Yet, many people in this massive and influential group are having a complicated time with their careers and lifestyles.
According to Richie Bernardo, writing for WalletHub:
“Loved by marketers, vilified by media, millennials are at once the most popular and unpopular generation alive. They’re the largest, too, giving them an outsized influence on American culture and consumerism. Today, these late-teens-to-early-30-somethings who are often depicted through negative stereotypes — entitled, parentally dependent, deludedly invincible — are responsible for 21 percent of all consumer discretionary spending in the U.S.”
“Despite their trillion-dollar purchasing power and higher educational attainment, millennials are economically worse off than their parents. Why? The financial crisis remains a big part of the reason. Millennials have come of age and entered the workforce in the shadow of the Great Recession, significantly reducing their job prospects and earning potential for decades to come. By one estimate, millennials today earn 20 percent less than Baby Boomers did at the same age.”
Where are the best and worst places for millennials to live? “WalletHub’s data team compared the 50 states and the District of Columbia to determine where this generational cluster has thrived and withered. We examined each state and the District across 24 key metrics, ranging from share of millennials to millennial unemployment rate to millennial voter-turnout rate.”
Here are two informative charts from WalletHub.
Best Overall Locales for Millennials
Best and Worst Locales by Attribute for Millennials
Temkin (a customer experience research and consulting company) regularly conducts a number of surveys on customer perceptions of companies based on polls of 10,000 U.S. consumers across a number of industries. For 2017, people were asked about 331 companies across 20 industries. These surveys are then placed into overall and industry rankings.
Click on the links to access specific rankings:
- 2017 Temkin Experience Ratings — “The Temkin Experience Ratings are based on consumer feedback of their recent interactions with companies. We asked consumers to rate three components of the experience, Success, Effort, and Emotion, on a 7-point scale.”
- 2016 Temkin Forgiveness Ratings — “The Temkin Forgiveness Ratings are based on consumer feedback on companies with which our survey respondents have recently interacted. We asked consumers how likely they would be to forgive the companies if those firms made a mistake.”
- 2016 Temkin Trust Ratings — “The Temkin Trust Ratings are based on consumer feedback on companies with which our survey respondents have recently interacted. We asked consumers how much they trust those firms.”
- 2016 Temkin Customer Service Ratings — “The Temkin Customer Service Ratings are based on feedback gathered from consumers regarding companies they’ve recently interacted with. We asked consumers to rate how satisfied they are with recent customer service experiences on a 7-point scale.”
- 2016 Temkin Web Experience Ratings — “The Temkin Web Experience Ratings are based on consumer feedback on companies with which our survey respondents have recently interacted. We asked consumers how satisfied they are with the online interactions with those firms.”
These are the 20 industries encompassed in the Temkin ratings: Airlines, Auto Dealers, Banks, Computers & Tablets, Credit Cards, Fast Food, Health Plans, Hotels & Rooms, Insurance, Investments, Parcel Delivery, Rental Cars & Transport, Retailers, Software Firms, Streaming Media, Supermarkets, TV & Appliances, TV/Internet Service, Utilities, Wireless Carriers.
Color is a very important component of the marketer’s toolbox, as we have reported before (see 1, 2.)
Colin Cieloha of Skilled.co makes these observations:
“Are colors in business important? It is not something that I ever thought needed a serious consideration. I always thought that color was there to make things look pretty. Recent studies have proven that color can impact on behavior, thoughts, emotions, and even the subconscious decisions that we make. Color is a key tool that can be used for marketing purposes to drive sales and increase conversion rates.”
“Do you know that the reason why red is such a popular color choice for clearance sales is because it evokes a sense of urgency and can even raise our heart rate? The psychology of color is explored in an infographic from the team at Skilled.co which you can view in full below. Take a look and find out how color can boost your business.”
The quest for customer loyalty continues to be both a critical goal and a major challenge for companies of all types and sizes. [See 1, 2, 3.]
Today, we highlight an infographic from Colourfast (an international paper and plastic card printer based in Ontario, Canada) that looks at “what customers want to know before joining your loyalty program.”
Why is this perspective of customer loyalty programs to companies? According to Colourfast, American households have memberships in 29 loyalty programs but are active in just 12 of them; and a large percentage of shoppers do not even sign up for loyalty programs because of the hassle involved.
Over the years, marketers have done lots of research on shopper behavior. including eye tracking and facial recognition. Now, we can add shoe (foot) tracking to the list of research techniques used by retailers.
As Oliver Smith reports for The Memo:
“Now, there’s a novel new technology that can figure out your age, gender, and social class, just by looking at your feet. Hoxton Analytics has created a small camera unit which, placed close to the floor near the doors of a shop, watches people’s shoes as they walk by.”
“As well as counting the sheer number of people walking past (the ‘footfall’ of the store), the cameras use artificial intelligence to figure out the kind of people who are walking. Hoxton can deduce gender, age, social class, and whether people are alone or in a couple, all from looking at their shoes. What makes Hoxton so unique is that retailers get all this data without any ‘creepy’ privacy invasions, like tracking your smartphone or watching your face.”
Click the image to learn more.
Hoxton’s low-profile cameras track people’s shoes.