Posts Tagged ‘customer research’

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POWERSHIFT MARKETING THIS WEEK #4

February 12, 2019

THIS WEEK #4 (FEB 11 – FEB 17) – Here are a few marketing tips and research thoughts for this week. As always, contact me if you have any questions or topics you would like me to cover.

 

 

CUSTOMER RESEARCH – LUXURY OR NECESSITY?

I am often surprised by how many small businesses think finding out more about their customers is a luxury. Tell that to Amazon. Their success is primarily based on knowing more about their customers than anyone. This allows them to customize their offerings to you. The best thing about customer research today? If you have a customer email list, we can conduct a study for you for literally pennies per customer. Our new DCG TIP SHEET outlines the seven major benefits of conducting customer research.

1. Measuring Customer Loyalty
2. Discovering How Customers Find You
3. Learning Why People Buy or Don’t Buy
4. Generating Feedback on Your Business
5. Analyzing Your Customer Experience
6. Helping Create Market Segmentation Strategies
7. Creating Brand Advocates

Click here to see the entire tip sheet. Then give us a call.

CREATING YOUR OWN YOU TUBE CHANNEL

Trying to decide what your marketing team should focus on in 2019? If you have videos, then it should be creating your own YouTube channel. Video content now accounts for over 74% of all online traffic. Five billion YouTube videos are watched every single day. Amanda Zantal-Wiener has prepared a solid “How To” blog post for Hubspot.com providing a quick and easy-to-follow guide to creating your own YouTube channel, from setup to optimization. Contact me and I will link you up to this excellent guide.

WILL 2019 BE BETTER THAN 2018?

Everyone loves predictions, right? Only in America would we accept a weather forecast from a ground hog telling us that Spring will arrive early (and that was just a few days before the biggest winter storms in recent memory hit). So, let’s turn to another unreliable source, political parties, to see if 2019 will be a better than 2018.

According to a recent Pew Research Center survey, conducted Jan. 9-14 before the partial shutdown of the federal government ended, Republicans and Democrats both see less reason for optimism. About 70% of Republicans say 2019 will be better, compared with 32% of Democrats. In both parties, these shares have declined since last year. If we look at all Americans: 47% say they expect 2019 will be better, 43% say it will be worse. Last January, those figures were 61% saying 2018 would be better than 2017.

Now why is this important? Because in marketing, perception is reality. Numerous studies have shown that if you think it is going to be a better year, you spend more. That’s another reason you must conduct customer research right now. How optimistic are your customers? It could make a big difference in your business this year.

THE BEST SUPER BOWL COMMERCIALS?

Ok, I didn’t get many comments about Super Bowl commercials, so perhaps they were as dull as the game? Jacob Oller, a writer and film critic, created one of the better Top 10 lists with video clips. Except for the annoying Bud Light dark-age commercial (this campaign has to go), I agree with many of his selections. Here’s a link to his list, CLICK HERE.

SHOULD YOU STILL WISH PEOPLE HAPPY VALENTINE’S DAY?

Finally, this may be a sad reflection on today’s society. Only 51% of Americans plan to do something for Valentine’s Day this week, down from 63% in 2007, according to a survey by the National Retail Federation. Younger consumers associate Valentine’s Day with their parents, says retail analyst Marshal Cohen. What are retailers and restaurants to do? Ah, why not promote Galentine’s Day, February 13th? This is a female-friendship take on Valentine’s Day spun out of an episode of “Parks and Recreation.” It is becoming popular in urban hip communities.

Until next week, thanks for reading.

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MONDAY MORNING QUARTERBACK DIGEST #20

July 30, 2018

Monday Morning Quarterback Marketing Digest. Here are some marketing and research thoughts for this week. Email me (Mark@dennettgroup.com) if you need more info on any subject.

NEW RESEARCH AND FALL COOPERATIVE PROGRAMS – Just a final reminder that we are now recruiting for our Fall cooperative marketing programs. If you are interested in saving up to 90% on your media expense, contact me. We will also launch our next 6th annual Destination Marketing Organization research study in October.

A BAD (AND GOOD) CUSTOMER TALE – I recently left my laptop charger/power cord at a client’s location (a four and half hour roundtrip away). My first thought was to order one from Amazon, which I did, but it wasn’t going to arrive for two days. I panicked (that is my wife’s view). I frantically tried to locate one that I could pick up the same day. I contacted a variety of local stores. Most had horrendous automated phone systems. After a very long time on the phone with Best Buy, I fought my way through their automated national inventory system – couldn’t talk to someone in the local store – to discover that my local store had a replacement. I rushed off. When I got to the store I was SHOCKED. In-store customer service was great. Plenty of people to help (surprised) and knowledgeable too. I was out in 10 minutes – back in business. What can you learn from this experience?

You Must Make it Easier for People to Call You! Are businesses so afraid of online giants (like Amazon) they are spending too much money on online access and forgetting that many people just want to call and talk to someone? How do you know? Let us conduct a customer service audit for you – we also offer Mystery Shopper programs.

MARKETING 101 – THIS DOG WON’T HUNT – I noticed that MoviePass (you pay $10 a month to see all the movies you want) got an emergency loan to stay in business. An independent study showed that they need to charge $99 per month to break even. They believe their current two million subscribers can be five million by yearend. Are you kidding me? Reminds me of a meeting I attended when I was in the airline industry. A top marketing executive recommended that we lower fares. When I pointed out that the proposed fares would be below breakeven, he added “oh, we will make it up in volume.” Fortunately, someone ended the discussion with “This dog won’t hunt.” Marketing 101: Selling more of a product you lose money on doesn’t work. Why is common sense missing from so many marketing decisions? Is it because you are too close to the marketing process? An outside opinion from a marketing coach (like us) can save time and money in developing winning marketing strategies.

MOST HOMEOWNERS ARE STILL HURTING FROM HOUSING COLLAPSE – Generation Xers (people born between 1965 and 1980) were hit the hardest in the housing collapse of 2008. But a new Pew Research Center analysis of Federal Reserve data finds that Gen Xers are the only generation to recover the wealth they lost during this collapse. The rest of us are still waiting. Are Gen Xers a good target for your marketing? Could be.

Until next week, enjoy summer (stay out of the smoke if you are in Oregon) and have a great day.

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MORE THOUGHTS ON CUSTOMERS TODAY

July 18, 2013

Following my last post, here’s more bad news for customers. Most businesses are not customer-focused. A survey of global marketing and non-marketing executives (SAS/Economist Intelligence Unit, June 2013) reveals that only six in ten senior executives see their companies as customer-centric, and only 56% of senior executives have a clear understanding of customers’ tastes and needs. The report also highlights a real disconnect among business leaders on who should be the leader in creating a customer-focused culture. In most cases, it falls to the head of marketing (the Chief Marketing Officer).

But today’s head of marketing has a full plate. They are busy with advertising, brand marketing, product marketing, and all forms of communications. They are also expected to increase revenue by adding new customers. So how much time can they spend focusing on the customer? Not much and that’s a big problem.

In the study, when asked what marketing investments would be most important for improving business in the next three years, respondents listed customer analytics as the most important, followed by customer relationship management, and social media.

So, are these your top priorities? What research are you doing to understand your customer? How are you managing the customer experience? How are you creating value rich content for social media channels?

Most importantly, if you are head of marketing, are you translating and sharing customer insights with everyone in your business, so you have a company of customer advocates? I don’t see this happening. That is one reason why my customer service workshops are popular.