B2B Technology markets can make switching by the customer too easy. Existing or legacy technology can become too cumbersome to use . Or refuses to realize its promise after trying for years. The client, in despair, becomes willing to try a new supplier. That supplier is willing to transfer the legacy system.
The solution is not to become sticky by merely embedding your technology in the customer’s processes. Or make the customer a hostage to your technology. Instead, it’s useful to think of what we learnt in the industrial B2B era as we continue to compete in the knowledge economy.
The trouble is that most businesses and their leaders don’t seem to fully appreciate the value of long term customer relationships. “New” customers sound more sexy than “Old” customers. On a lighter note, Tinder sounds more exciting than eHarmony. Our marketing academic audience knows about the 1987 seminal work by Dwyer, Schurr and Oh whereContinue reading “Customer Journey,CRM and Advertising Goals”
Gen X( Born 1965-1980) was willing to go along with the Baby Boomer/Jack Welch leadership style. Gen Y or Millennials ( Born 1981 to 1996) and Gen Z or Zoomers (Born 1997 – 2012) are very different. Gen Y and Z in the workforce and with the Great Resignation since the pandemic and 2021, we thought it was timely to rethink the Jack Welch style as discussed in our very popular posts on Jack Welch. When Satya Nadella took over as CEO of Microsoft in 2014, he made the reading of “Nonviolent Communication” by Marshall B. Rosenberg compulsory for the top management. Nadella’s predecessor Steve Balmer followed a version of the Jack Welch approach without the candor that Jack promoted at GE.
You have a campaign in Google or Facebook ads that’s doing really well over several months. Maybe this was for a product that is no longer sold. Don’t.
There is lots of material online that explains how Google Search Ads work. However, we could not find much content that explains why Google Search Ads work. Hence this postThink of every time you search for something on Google. You are curious to find out more about something. To us this is the holy grail of marketing and sales because your mind has started on the customer journey. Other forms of push advertising (Display ads, Video Ads, TV Ads, Direct Mail, Billboards) are trying to put you in a frame of mind to ignite your interest in at least the product category.
At the early parts of the sales funnel you are trying to build awareness about your brand. Your target market needs to know that you exist. You need to get the word out.Popular choices in digital marketing is to use Google Ads and Facebook Ads that are both great in getting the word out. For this post we stick to Google Display Ads and exclude Google Search Ads. For search ads work better for lower parts of the sales funnel. By the time someone searches for something (eg. ‘Cheap flights to Paris”) you can be sure that the person is now looking for a specific destination. When your search ad pops up that mentions “Cheap flights to Paris” it becomes very likely that the searcher clicks on the ad to check out what your landing page has to offer.
Social Cause marketing is something that all nonprofits are trying to do.Companies with strong CSR (Corporate Social Responsibility) programs similarly advertise for causes as do Governments. Generally, the marketing and advertising community takes a cue from commercial sales methods of “asking for a sale.” Thus you will see TV commercials and internet ads that exhort you to “Donate Now”.It turns out, that an in your face” assertive message can backfire when a section of your audience does not care deeply about your cause.
The holding company for Google is Alphabet (stock market symbol is GOOGL but company name is Alphabet inc.). We found it interesting that although the holding company is called “Alphabet inc.” Google’s entire purpose is not to organize alphabetically. Instead the goal is to show results that meet the searcher’s search intent. For more on how Google thinks see our updated post from 2017 on “Getting found on Google.”
With COVID vaccines all US businesses are hopeful that the pandemic will soon be behind us. Empty stores will be full of customers again!
It turns out the the smallest business with a physical storefront can now track ads from click to in-store purchase. Yes there is some work involved but all the data and analytics is free- for the Google ecosystem. For our variety of dear readers we discuss 5 different scenarios that would apply to your situation as a store owner.
The announcement by Google that 3rd party cookies will be gone in Chrome in 2022 has raised great concerns among advertisers. The AdTech community of hundreds of companies will also need to figure out their approach. Here is some background on this debate: