For many prospective and current clients, the idea of having that big moment over social media can be extremely intoxicating. We all want to think we’re the ones creating the “viral moment.” But what happens when there’s a viral moment and you weren’t the one to start it? More so, what if the moment is happening and it doesn’t align with your company’s values?
It has not been all that long since I was Director of Marketing at a healthcare organization that sold software and services directly to independent medical providers. Consider that for a second. Our target was an ever-shrinking audience, a community of doctors who essentially understood that their future would be better tied to a large corporation than on their own.
With a strong economy comes opportunity. With opportunity comes prosperity. Unfortunately, in the construction industry the opportunity is there, but there are few who have the ability to take advantage of it. Of course, I am speaking about the workforce shortage.
Tomorrow, I’ll be participating in the Columbus Chamber of Commerce Retail Summit 2019. So, why does a marketer care about supply chain and logistics? Because your battle to provide great customer experience is either won or lost in the trenches of supply chain and logistics. A recent Harris Poll indicated that 48% of U.S. marketers believe brands have an excellent ability to provide an exceptional customer experience. However, only 22% of customers believe brands and retailers provide an exceptional customer experience.
In a recent study by Forbes Insights and The Trade Desk, 42% of CMOs identified customer experience as one of their top three challenges, and 36% said improving customer experience is their primary mandate for 2019. Today’s marketers are faced with fragmented media consumption habits, marketing-savvy consumers, and social and political divides at every turn. So, brands have much to gain by strategically balancing their focus (and budget) between customer acquisition and customer retention. Marketing efforts historically focused on identifying and targeting new customers to draw them into the sales funnel. But shifts in today’s consumer marketplace are forcing an expanded focus that includes customer retention, often driven by managing the customer experience. It’s commonly understood that acquiring a new customer is five times more costly than keeping one, and increasing customer retention by just 5% can increase profits from 25% to 95%. The question becomes, how do marketers “own” the customer experience? Here are three considerations.
According to an Association of National Advertisers study released in October 2018, advertisers are using in-house agencies more, with 78% of ANA members reporting having some form of in-house agency in 2018, compared to 58% in 2013 and 42% in 2008. Still, many advertisers understand the various benefits of engaging an agency to help with their marketing efforts and pursue a relationship that fits the bill.