In modern marketing strategy, a large focus is placed on acquiring new customers. In fact, a recent research survey showed that 72% of small businesses planned to use the majority of their marketing budget to try to attract new customers as opposed to marketing new benefits and products to their existing customers1. However, expanding a company’s customer base does not always equate to business growth. Recent studies have shown that building loyalty with existing customers is equally important, as existing customers tend to be more profitable.
Category: Chapter 1 – Marketing in Today’s Business Milieu
Lockdowns Hit Gig Workers Hard
Gig workers don’t have many protections in place. They don’t have guaranteed wages, and they don’t have sick pay or health care – things that are crucial in a public health crisis. Now, many gig workers face a dilemma: break the lockdown orders to try to pay the bills or stay home without pay.
Marketing in a Pandemic
The COVID-19 pandemic has rocked the world, showing a profound impact on countless industries. Among those hit the hardest: tourism, travel, and retail. How do companies within these industries stay in touch with their consumer base amid worldwide closures? Let’s take a look two companies that are doing it right: Disney and Target.
B2B Marketing and Millennials
According to a study conducted by branding agency Sacunas, 73% of millennial employees surveyed in the United States are responsible for a product/service B2B purchase decision-making process at their company. Case after case has proven […]
Weighing in on Wellness
January is the time of resolutions, many of which are fitness based – unfortunately for routine gym goers. This past week I circled several times to find a parking spot at a normally low-volume hour, […]
Market Beyond the Mold
We are all slaves to our fear of looking stupid. Maslow posits in his Hierarchy of Needs that security is the most important psychological need. It shouldn’t be news to anyone, or at least anyone […]
Marketers Will Be Hacked
It’s not a matter of if, it’s a matter of when. This is the philosophy of Norman Guadagno, head of marketing for Carbonite. This year we’ve seen that there is no such thing as invulnerability- Panera […]
Thoughts from Google Marketing Live Keynote
In July Google held a conference and livestream where it announced upcoming innovations in all things Googley. Speakers across various marketing specializations focused on three themes: value, transparency, and trust. But if you listen to […]
Global Branding: Guinness Plans to Open First U.S. Brewery Since 1954
There are not many beers that are quite as iconic as a Guinness. The Irish stout, which any beer aficionado knows requires a very particular pour in order for the “storm” or surge to settle […]
“Mass Disruption”: What P&G and MasterCard Have to Say About Current Marketing Trends
The face of marketing is rapidly evolving. This is no secret. Companies of all industries and sizes from social media, to startups, as well as the bigger players are learning that it’s time toss out […]