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 12 – Promotional Strategy and New Media
The Balance Between Data and Privacy: A Fine Line for Digital Marketers
One of the most powerful entities for a marketing department is data. For a business, having data on their customers and their prospective buying habits can impact how the business markets their products and services. Today, the constant advancements in technology have made it easier for companies to collect large amounts of data ranging from customer demographics to customer satisfaction.
The Nature of Viral Marketing
Viral marketing may seem appealing – but it’s not exactly simple. Though there are no hard and fast statistics, the chances of content going viral are very slim. There are 2.6 billion users on Facebook – that’s 2.6 billion potential impressions for content shared on the platform. But how do marketers reach them?
Shifting Tastes in the World of Wine
While there are often strict regulations surrounding the sale of liquor, beer and wine sales are more lenient. That’s an entire audience of consumers who might prefer higher alcohol content and the accompanying burn but who cannot purchase their drinks of choice as easily as they might purchase a bottle of wine or a six-pack of beer.
Many wineries have begun to capitalize on this, repositioning themselves through product and process alterations. How? They’re aging their wines in spirit barrels.
Music to Advertiser’s Ears?
Here’s an easy question: did you listen to music on your phone or another streaming device in the last few days? How about a podcast? If you listened to one recently, you are a part […]
eWinning in eSports
Seemingly overnight, eSports – defined by eMarketer as organized gaming competitions among professional players and teams – became a global phenomenon with much at stake for game developers, players, audiences, streaming platforms and live venues. […]
Live-streaming TV services such as Hulu with Live TV, Sling TV, and PlayStation Vue now account for more than three-quarters of all plays and viewing hours in the U.S, according to a report by TechCrunch. This January, […]
CRM software company SuperOffice recently publish a report on the state of B2B email marketing, and found that B2B companies are lagging behind in the adoption of email marketing. SuperOffice cites email marketing as the […]
Crowdfunding has become the budding entrepreneur’s best friend. Sites like KickStarter, GoFundMe, Indiegogo, Patreon, and countless others make raising funds simple and easier than ever. The crowdfunding industry has grown from $564 million in transaction […]
The Pen is Mightier
The decline and ultimate demise of print advertising is a forgone conclusion for many marketers, especially the current and rising generations who started their careers in the age of digital everything. “Not so fast.” say […]