Archive for the ‘Marketing and Branding’ Category
Tuesday, August 13th, 2019
We’ve written before about the sales funnel—the process through which potential customers become aware of, engage with and, hopefully, ultimately become actual customers of your company. The first part of this funnel is typically referred to as “awareness.” This is the stage at which the market—as you’ve defined it—becomes aware of your product or service. They may never be interested in making a purchase or even learning more about you, but they are aware you exist and have entered this first section of your funnel.
At the heart of the sales process is the drive to move potential customers through the funnel from awareness to action—i.e., making a purchase. A lot of resources are put into measuring the losses at each stage of the funnel and figuring out the sources of that attrition and how to reduce it. Unfortunately, a lot of these resources may be wasted. (more…)
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Tags: data analysis, effective marketing, marekting metrics, marketing analytics, marketing strategy, measuring marketing effectiveness, target marketing
Posted in Analytics, Marketing and Branding, Marketing Measurement | No Comments »
Thursday, August 8th, 2019
Businesses spend a lot of time and money trying to gain insights into how customers perceive their product or service offerings. This might involve conducting surveys and focus groups to hear directly from customers. Or, it might involve efforts to ascertain customer preferences based on online behavior and purchase decisions. And yet, despite the general accessibility of this type of information, so many businesses still misread customers. That lack of awareness limits their ability to improve the customer experience. (more…)
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Tags: acting on customer feedback, conducting focus groups, conducting surveys, customer feedback, customer input, customer survey, marketing research
Posted in Marketing and Branding, Marketing Measurement, Marketing Research | No Comments »
Tuesday, August 6th, 2019
One of the persistent challenges for marketing departments is the ability to determine a reliable and justifiable return on investment for their marketing spend. One common reason given for this challenge is the difficulty in attributing revenue to specific marketing activities. But in an article for Forbes, Stephen Diorio argues that there is a need for improvement in how the money that is spent is categorized and tracked. (more…)
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Tags: marketing analysis, marketing evaluation, marketing metrics, measuring ROI
Posted in Advertising, Analytics, Marketing and Branding, Marketing Communication, Marketing Measurement | No Comments »
Tuesday, July 30th, 2019
We’ve previously discussed the challenges many companies face when trying to calculate an ROI on their marketing efforts. For small and medium-sized businesses, this can make it difficult to justify increasing spend on marketing efforts.
But, just because you feel like you can’t spend more money on marketing doesn’t mean you can’t invest in your brand. (more…)
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Tags: brand awareness, brand preference, content marketing, cost-effective marketing, Marketing, marketing budget, marketing tips, reducing advertising costs
Posted in Advertising, Business Development, Content Marketing, Influencer Marketing, Internet Marketing, Marketing, Marketing and Branding, Social Media | No Comments »
Thursday, July 25th, 2019
Having a real person associated with your brand can help your company connect with consumers on a personal level. It can also bring negative publicity from the actions or statements of those spokespeople. While it might be harder for audiences to connect personally with the Trix Bunny or Pillsbury Dough Boy, neither is likely to be in the news for making offensive statements or getting arrested.
That can’t be said for real-life figureheads or spokespeople.
(more…)
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Tags: bad PR, bad publicity, endorsements, influencers, media relations, Papa John's, PR crisis, spokespeople
Posted in Brand Management, Influencer Marketing, Marketing and Branding, Media Relations/PR, PR and Media Relations | No Comments »
Tuesday, July 23rd, 2019
One of the challenges for — and criticisms of — the marketing function is that it’s often difficult to calculate an ROI on a company’s marketing efforts. For example, how does a soft drink or beer company determine whether or not their multi-million-dollar Super Bowl ad was worth the investment? How can they tell whether a customer made a purchase based on that ad as opposed to a purchase they were going to make anyway? Not an easy task.
And yet both employers and clients want (and deserve) to know if their marketing investments are paying off for them. Fortunately the measurement game these days is often much more straightforward than in the past. (more…)
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Tags: analytics, content marketing, Marketing, marketing measurement, performance marketing, strategic marketing
Posted in Content Marketing, Marketing and Branding | No Comments »
Thursday, July 11th, 2019
Behavioral economics is the study of how and why consumers do not always act rationally —rational behavior is one of the fundamental assumptions underlying classical economics. Behavioral economics helps explain things like why consumers make impulse purchases and incorrectly value goods and services. Two of my favorite behavioral economists are Dan Ariely and Steven D. Levitt, authors of Predictably Irrational and Freakonomics, respectively–two books I highly recommend.
Nudge marketing is a key form of behavioral economics. It involves providing subtle “nudges” to guide human behavior in ways that serve marketers’ needs. Here we take a look at some interesting examples of how elements of behavioral economics can be put to work in the field of marketing.
(more…)
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Tags: behavioral economics, influencing consumer behavior, innovations in marketing, marketing strategy, nudge marketing
Posted in Marketing, Marketing and Branding, Marketing Research | No Comments »
Tuesday, July 9th, 2019
Social media marketing is an inexpensive and effective way to engage with your target market and position yourself as a thought leader. But to make it an effective tool, you need to be diligent in keeping your content up-to-date and post regularly. An infrequently-updated blog or social media page with stale posts can actually do more harm than good to your brand and engagement efforts. But many small business owners struggle to find the time to keep their social media profile up to date.
One solution to this is to use a content calendar.
(more…)
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Tags: content calendar, content marketing, content strategy, editorial calendar, planning content
Posted in Blogging, Content Marketing, Marketing Communication, Publishing | No Comments »
Thursday, June 27th, 2019
by Justin Grensing, Esq., MBA
It’s hard to overstate the value of relationships in business. And, while it’s true for companies of any size, this can be especially crucial for success among small and midsized businesses (SMBs) as well as in the B2B world generally. “As an entrepreneur, you have countless relationships you need to manage on a daily basis,” writes Jennifer Spencer in an article for Entrepreneur. “There are your employees. There are the vendors who provide needed support services to help you run your business. And, of course, there are also your customers.”
(more…)
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Tags: affiliate marketing, building relationships, give to get, law of reciprocity, marketing strategy, marketing tactics, pay to play
Posted in Business Development, Client Relations, Customer Service, Marketing and Branding | No Comments »
Economic theory has some fundamental assumptions underpinning it. One of the most important is that people behave rationally. In other words, that the decisions we make are designed to fulfill our best interests.
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