Archive for July, 2017

Social Media Metrics: Are You Focused on the Right Data?

Tuesday, July 25th, 2017

pen, magnifying glass and the working paper with a diagram

The modern marketing strategy just isn’t complete if it doesn’t include a social media element. As we’ve discussed in a previous blog post, tools like Google Analytics are great for tracking your social media activity and its impacts on your business. While we encourage social media marketers to read that blog and the background information linked within, it’s also important to discuss some of the misconceptions many businesses have about all the social media data they are collecting. Some might focus on information that isn’t particularly helpful, while others might be disregarding, or missing entirely, key metrics. (more…)

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They Might Come Back: Why It Pays to Treat Exiting Customers Well   

Thursday, July 20th, 2017

38309393 - group of different families together of all racesNo company retains every customer they do business with. There is a natural ebb and flow of customers over time, whether your company provides a product or a service. Understanding that ebb and flow is important. Calculating the lifetime value of your customers, anticipating potential losses and determining how much time and effort to spend on prospecting for new customers are all very important elements of running any business. (more…)

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Retailers on Red Alert: Are They Doomed?

Tuesday, July 18th, 2017

Sears. Kmart. JCPenney. Macy’s. These are just a few of the growing list of retailers announcing store closures.  

And yet, at the same time as many stores are shutting down, Amazon is opening brick and mortar stores and recently purchased 431 Whole Foods stores.

It’s an interesting dichotomy and one I considered recently as I was writing a column for the summer issue of Chippewa Valley Business Report. (more…)

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Driving Revenue Through Public Relations and Media Placement

Thursday, July 13th, 2017

At a basic level, generating a profit in business revolves around a simple formula: revenues – costs = profits. In other words, the goal is to bring in more money than you spend. This is what makes the marketing function so tricky for many businesses. Marketing – if done properly – drives revenue. At the same time, marketing can be a significant part of an organization’s budget. According to a recent CMO survey, marketing can account for as much as a quarter of the overall budget for the consumer packaged goods industry, and ten percent for industries like retail wholesale and healthcare/pharmaceuticals.

So, any time you can find a way to do successful marketing on the cheap, it’s a great idea to take advantage. Using PR and free publicity to drive revenue is one of these methods, and here we examine what it takes to be successful. (more…)

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Some Do’s and Don’ts For Successful Social Media Marketing

Tuesday, July 11th, 2017

It’s no secret that social media is an important part of the modern marketing mix. According to a 2016 Statista survey, 81 percent of survey respondents said they had integrated social media into their traditional marketing mix. But doing social media marketing and doing it well are two very different things. Here we offer some basic do’s and don’ts for beginners and even seasoned social media marketers. (more…)

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Toward a Broader Understanding of Brand

Thursday, July 6th, 2017

Most businesspeople and students of marketing would probably agree with the statement that your brand is important. Yet, despite this importance, the concept of a brand isn’t always easy to grasp. Part of that problem is because a brand is made of so many components that it needs to be considered very broadly.

In an article for Forbes titled “Your Brand Isn’t What You Think It Is,” author Ty Kiisel points out that most people don’t truly understand what a brand is. Kiisel writes: “I think most people would agree (although there are still some holdouts), your brand is not your logo or your colors. Of course the colors you choose and the way you present your name to the world is considered part of your brand, but it’s not the most important part. Your brand isn’t what you say you are either.” This is true … but what is your brand? (more…)

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