OK, I have to admit I did not pick the title…my editor at Chief Marketer did.
But here’s my latest article. My main point is that marketers should focus on improving their ability to deliver relevant products and messages to an increasing number of smaller customer segments. Its based on individuality trends that are unlikely to reverse in the coming years. Enjoy.
My latest Chief Marketer article. Best Buy’s decision to revamp their program, including dropping the annual fee, is a good example of how companies should approach loyalty programs. Keeping program benefits current, by dropping elements that hinder or do not help the program and adding new ideas, helps keep programs relevant to active and high potential customers.
I’ve noticed that many companies still try to figure out the exact best way to do something in advance. In some cases there is no other option, but nowadays its much easier to adapt to customer response or market conditions. Better yet, test multiple ideas simultaneously, and let the market pick the winner.
That’s the premise behind my latest article for Chief Marketer, which I encourage you to read.
Here’s an excerpt from my latest article for Chief Marketer. The article in its entirety is here.
Quick, list the objective for the next marketing dollar you spend. Is it quantifiable and time-bound? Is it something other than “increase revenue”? I talk to dozens of companies about improving their business through relationship marketing and find that developing clear financial and marketing objectives is the most productive step in the discussion.
Read more.
