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…
A strong brand communicates what your business does, while establishing trust, credibility, awareness and loyalty with consumers. “Small business owners who think big, who think about growth, who think for scale … understand that branding is important and invest in their brands.” — Ramon Ray, entrepreneur/speaker/author/small business expert What is a Brand? A brand is…
Out-of-Home (OOH)* marketing is ideally placed to bring meaning back to advertising and help businesses reconnect with consumers, achieving strategic presence in a crowded media landscape. Analysis concludes: Out-of-Home: OOH can achieve long-term brand value at a time when attention often becomes focused on short-lived clicks, shares and instant gratification. Effective use of OOH means…
Many internet marketing companies state that their services can get you to “number one” on Google, but do you know what is actually being done to get you there? Search engines have changed and “number one” cannot be guaranteed. Here is what you should know: 1. Getting to “number one” on Google isn’t necessarily the…
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…
PwC’s Entertainment & Media Outlook Report contains projections for advertising expenditures through 2022. The following are highlights for major media markets in the U.S. Out-of-Home Advertising Out-of-home (OOH) advertising has the strongest projection of traditional media, experiencing eight consecutive years of increases, due to the healthy expected growth in digital out-of-home. Digital out-of-home (ex. billboard, DMV,…
A recent study shows that U.S. consumers deeply value small businesses – more than half visit or use the services of a small business and more than double cite local commitment over price as their top motivation. Following are further findings with positive trends and tips: Local businesses are important to consumers: Over three quarters…
A recent study shows that CMOs (Chief Marketing Officers) rank business growth as the top priority in marketing goals. Following are insights into achieving this objective, as well as other strategies and challenges*. What are the top priorities in marketing? Business growth ranks first as the primary role of marketing: • #1: Delivery of business…
Marketing is always changing, and Customer Experience (CX) – interactions between a business and a customer throughout their relationship (ex., awareness, discovery, cultivation, advocacy, service, purchases) – is the new marketing battlefront, focusing on making businesses people-friendly. 89% of businesses expect to compete mostly on the basis of CX.¹ 74% believe that CX impacts customer…