“Advertisers… should rely not only on information such as ratings, reach, or readership but also on specific media-context factors that exert positive, negative, or neutral influence on memory for… advertisements.” — Authors* of “Impact of Media Context on Advertising Memory Study” The media environment – the context in which advertisements are placed – is important…
Customer loyalty is a gauge of how devoted customers are to a business, and is the result of a consistently positive customer experience. Following are tips on how to effectively measure, increase and maintain customer loyalty. 1. Measuring Customer Loyalty Understand your current customer loyalty status: Determine your repurchase rate: consumers who continue to buy…
PwC’s Entertainment & Media Outlook Report contains projections for U.S. advertising growth through 2024. Following are highlights for major media: Digital Out-of-Home Advertising Digital Out-of-Home (ex. billboard, DMV, elevator, gas station) remains strong with a +7.7% compound annual growth rate (CAGR)¹ through 2024. Out-of-home has the strongest forecast of traditional media with a +2.8% CAGR, buoyed…
Branding plays an essential role in a business’ development: studies show consistent brand presentation increases revenue up to 23%*. Each piece of content – ads, website, social media, etc. — should communicate your business’ core values. Following are steps to ensure your marketing efforts are aligned with your brand: Define the Core Elements of Strategic Market…
Customer engagement – attracting and influencing customers — is earned through trust and over time. There are three layers to effectively nurture prospects into customers: Emotion: Customers need to feel something for your brand and trust your proposition. Rationale: Lock in commitment and ensure that what you’re offering makes logical sense. Ethics: Communicate your brand…
Marketing remains essential for businesses in order to successfully compete, sell products/services and become profitable and grow. Following are effective marketing best practices. Set Attainable Goals Determine your position in the market and decide what you want to achieve. Keep your goals realistic, making them something you will be able to accomplish. Establish Brand Identity…
Digital-out-of-home (DOOH) has been dominating advertising news with key trends and innovative technology. Following are the top five stories: 1. What’s driving the digital-out-of-home market? Advertisers realize the value of trading static images for digital, delivering content that responds to the audience directly. Two factors driving the expanding DOOH market are improved targeting and dynamic…
Savvy marketers understand the lifetime value of a customer. As a result, they build their acquisition formulas around long-term success, not one day revenue. To gain a competitive advantage, follow this “not-so-secret” four-step formula: Step 1: Determine the lifetime value (LTV) of your customer. LTV is the forecast of a customer’s worth over the lifetime…
Studies show that word-of-mouth (WOM) continues to be a powerful marketing tool. Research indicates 83% of consumers trust the recommendations of friends/family, 92% trust feedback from others (including strangers) and 20-50% of all purchases are influenced by WOM¹. Here are some proven word-of-mouth strategies that can help grow your business: Encourage user-generated content. “Hashtag marketing” helps boost positive…
All businesses are digital in some aspect. Between finding new customers or staying connected to current ones, there’s much to consider for your marketing strategy. Below are 4 key ways to give your business a digital tune-up: 1) Give your digital platforms a review. Consider the look of your website, which is often your first impression…