How do you prepare the marketing budget for your business? Most organisations calculate – or estimate – the percentage of funds they want to dedicate to marketing, then ‘build out’ their marketing plan within this figure. On the face of it, this approach makes business sense. After all: you don’t want to spend more than you can afford. But in doing so, how can you be confident you’re achieving maximum bang for your buck? You can’t. Successful marketing budgeting is about knowing what you want to achieve, and building a budget that satisfies both your expectations and your accountant. Here’s what you need to know when developing yours.
Topics: Business Guides
In 1910, two teams of explorers – one from England, one from Norway – raced across Antarctica in the the ill-fated Terra Nova Expedition; a competition to become the first to set foot on the South Pole. The Norwegian team, who spent a year planning their journey by surveying the inhospitable landscape in detail, won by more than a month. Led by Captain Robert Scott, the British team instead focused on raising cash for expensive scientific equipment and a gamut of transportation methods. Scott – along with all four of his British teammates – not only lost the race, but died on the gruelling journey home.
Topics: Marketing Plan, marketing strategy, customer retention, marketing metrics, client service, B2B, customer retention plan, client retention, client retention plan, goals, tactics, planning, master marketing, marketing planning
An article by the Harvard Business Review called “The rise of the Supertemp” really encompasses everything The Marketing Centre communicates on a daily basis to the outside world.
Supertemps are working professionals, people who have had “big” careers already, from lawyers, financial services experts, Marketing Directors to CEO’s. They have graduated from the best schools and have been trained within top companies, but have chosen to change their working lives by pursuing careers outside of the corporate arena.
Getting a new customer might feel more glamorous than retaining one, but your chance of making a new sale with an existing customer is 60-70%. That same statistic for a new prospect is just 5-20%. And yet, the never-ceasing search for the secret that will see your marketing connect to an ever increasing group of new customers is the ultimate goal for some.
This article was originally published at http://blog.vistage.co.uk/3-metrics-to-prove-why-you-should-market-more-to-existing-customers.
Optimise your mobile teams
Properly equipped and trained mobile workforces can be fully integrated with business processes, utilised effectively all the time, and working efficiently wherever they are. Your business systems should enable them to handle issues and queries on the spot rather than relying on follow-up processes run back at the office. As a result, your customers get better and faster service which means your offer is no longer just about price.
What is Brand Experience?
Research has shown that there are five core indicators of brand experience that can directly affect customer loyalty, as shown by the Journal of Marketing:
THINK – how well do you communicate the brand’s purpose?
FEEL – what type of emotional impact does your brand have on consumers?
SENSE – which of the 5 senses is your brand using to really engage with customers?
DO - how do you influence behaviors and provide solutions to problems for consumers?
CONNECT– to what extent does your brand create sense of belonging for customers?
Topics: brand experience
You probably know about the next Google update planned for April 21st.
No? Then your website manager should. It’s worth checking right now, here’s why:
Most business owners know they need to innovate to survive in their competitive marketplace.
However, it’s often hard to incorporate innovation into “business as usual”, and owners risk finding themselves in perpetual catch up mode. Incremental innovation can generally be found in three areas:
In our Little Black Book, we combine all of our many contacts and can provide recommendations for a huge range of agencies: from Media Buyers to Exhibition Specialists to PR or Social Media experts. Jo from Creative Agency Oyster Studios writes this month about ensuring your marketing campaigns are effective and engaging:
A successful marketing campaign
Topics: effective marketing campaign