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 14 – Personal Selling and Direct Marketing
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.
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.
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 […]
Searchin, Searchin (For So Long)
Today, search is a constant part of consumers’ journey, regardless of what stage of the funnel they are in. Thanks to search, the journey itself is longer, more serendipitous and essentially never-ending. Google gives an example […]
Sponsored Post: Influencer Marketing
“Influencer Marketing” is as hot a buzzword as “Big Data” became a few years ago. It’s not just for Kardashians anymore; anyone with the right follower count has a shot of making a career out […]
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 […]
What’s in a Name: Should Heinz Change the Name of “Salad Cream”?
According to an article by Time, Kraft Heinz has recently announced that it will be changing the name of a beloved condiment in the UK from Salad Cream to Sandwich Cream. Ironically being a favorite […]
Emotional Connection: What Merch Can Mean for Marketing
Creating a connection with your consumers is not only a necessary practice in PR and customer service, but also is a means to create stronger marketing. But how exactly does one accomplish creating stronger connections […]