There’s an old saying in customer service that a customer who has a good experience with your business might tell a single friend while a customer who has a bad experience will tell ten. Unfortunately, those numbers might be drastically out of date in the age of social media. In an era where any individual has the chance to communicate with millions of people around the world, even a single incidence of poor customer service can have significant impacts for businesses of any kind. (more…)
Archive for May, 2019
Google’s EU Fines Illustrate Key Business Concepts
Wednesday, May 29th, 2019by Justin Grensing, Esq., MBA
Google has not had a great couple of years in Europe. In March, the company was fined 1.5 billion euros—roughly $1.7 billion—for antitrust violations in the online advertising market. This represents the third such fine against the tech giant since 2017. “With the announcement on Wednesday, the European fines against Google total roughly €8.2 billion, or $9.3 billion,” says an article by Adam Satariano for the New York Times. “But the bloc has not received any of the money yet; Google is appealing the earlier decisions, and is mulling whether to appeal the most recent ruling.”
These fines provide some interesting business lessons relevant to any industry. (more…)
What Beer Companies Can Teach Us About the Dangers of Publicly Attacking Competitors
Tuesday, May 28th, 2019
The growth strategy—and corresponding marketing strategy—of a company has a lot to do with the nature of its industry. When a new market is developed or discovered, we say there is a blue ocean—an unmet demand in a market that isn’t served or is vastly underserved. Market share and sales can be increased by simply letting consumers know that a product or service exists and convincing them that they want the product. By contrast, in a red ocean, the market and the major players are already established, and the market is saturated. The only way to increase market share is to take market share from a competitor. That can be exceedingly difficult to do. (more…)
Forget Disruptive Innovation: How NON-disruptive Innovation Can Help You Expand Your Market
Monday, May 27th, 2019
Many of us are familiar with the concept of disruptive innovation: a new product or service enters the market and overthrows established competitors by fundamentally changing the paradigm. Common examples include the advent of the automobile, the personal computer, or direct streaming services. But, do we really need to be disruptively innovative? (more…)
What Notre Dame Donations Can Teach Us About Philanthropic Marketing
Wednesday, May 22nd, 2019
by Justin Grensing, Esq., MBA
Corporate philanthropy can be a great way to boost an organization’s brand. Customers like supporting companies they feel are contributing to the good of society, and philanthropy often comes with various forms of publicity as well—whether it’s media coverage of a donation or sponsor recognition attached to an event or building.
The recent tragic fire at Paris’s historic and world-famous Notre Dame cathedral (more…)
6 Steps and 6 Weeks to an Effective Content Strategy: Week 6
Tuesday, May 21st, 2019
Jazz is almost ready to implement her content marketing strategy. Just one more important step before she’s ready to go. (more…)
6 Steps and 6 Weeks to an Effective Content Strategy: Week 5
Tuesday, May 14th, 2019Jazz Jones is anxious to get moving forward with the implementation of her content marketing strategy. She is, after all, eager to begin building her coaching business. But she has just a few more steps before she’s ready to go. The next one, Step 5, is critical and all about keeping the end in mind. (more…)
6 Steps and 6 Weeks to an Effective Content Strategy: Week 4
Tuesday, May 7th, 2019Jazz Jones has a clear focus on her goals, objectives and her target audience. She knows who she’s attempting to influence and she’s done thorough research into their AIOs (activities, interests and opinions). Now, she’s ready for the next important step in creating a content strategy. (more…)
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