The backstory starts in the pre-internet age when sales folks were very reluctant to adopt technology because they wanted to keep their leads to themselves. After all, commissions were earned depending on who “closed” the sale. Similarly in direct mail and catalogs, the coupon code and a mailed in order identified which mailing worked. As digital and internet marketing developed, the legacy metrics were adopted and “last click attribution” became important. If you think about it “last click” or the ad that you clicked mirrored the “sales closing” and fitted neatly with the old direct mail coupon code model. All you had to do was to put a code on the ad, email and upon checkout just match the ad to the transaction and “Eureka” you had attributed the ad spend, specific email or ad to the purchase.
It is sad to see that Forever 21 filed for bankruptcy. Their backstory is fascinating and the 5 minute video backstory of Korean immigrants achieving the “American Dream” by Business Insider is worth watching.
Unlike the typical sad “decline of US malls” story and rise of “online retail” the Forever 21 story has important lessons for all businesses. It is also an eerie reminder of the the New Coke fiasco, To recap, Coca Cola did not realize in the eighties that customers did not drink Coke for taste but it was all about being American – a much deeper meaning.
The two biggest attractions for marketers with 5G will be:1) Mobility: With mobile use already at 3 hers 35 minutes a day in the US expectations are that mobile will surpass TV in terms of time spent in 2019. And that’s before 5G really kicks in.
2)Fast=Decrease in latency: Latency or the delay between asking and getting replies due to network speeds will vastly improve. Google will get even faster replies but also even your messaging can get faster. The day is not far away when at a restaurant you see the dessert ads on your phone even before the waiter asks at the end of your meal!
It’s hard to explain to everyone in an organization – that their role includes “marketing”. And focussing on constant innovation. Hence the term “Customer Success.”
[Note: Thanks to the interest of our dear readers this post from September 18, 2018 is updated April 7, 2021. During COVID everyone was forced to become more tech friendly. We hope that this revised post will help our dear readers prepare better for a post COVID world}
The Customer Success term is particularly popular in the SaaS (Software as a Service ) industry. SaaS companies need customer renewals. To do so, SaaS companies try to align the organization including programmers, sales , finance to working towards customer success. SaaS companies also have a separate Customer Success function that faces the customer and helps in getting the most out of the SaaS product.
Social Media has galvanized us to share our best face with the world. Go to any event (e.g. weddings) and you will find everyone taking pictures on their cell phones. This despite the professional photographers trying to do their best and stay relevant in the age of the smart phone. You have a public personaContinue reading “You can’t lie to Google but try to look great on Social Media: Search vs. Display Ads”
Your web visitor could be a prospective customer looking for your solution or an existing customer looking for customer service. Your customer can get to your web-page or landing page in two ways a) through your content based SEO or b) Paid advertising (like Google AdWords, Email marketing).
You are making sales calls and some customers are unresponsive even after initial conversations. It is quite possible that these people do not have the problem that your business solves. They haven’t yet Googled about the problem you solve! For people are looking for solutions to their problems and all businesses exist to solve customerContinue reading “If they haven’t Googled about the problem you solve …”
It’s useful to think about paid web advertising (eg.Google AdWords, Facebook advertising) as Brand Building vs. e-Commerce.
[ Note: This post was originally published on December 7, 2016. Due to the great interest of our dear readers the post is updated as of February 27, 2021.}
To recap the sales funnel is seen as Awareness, Consideration, Conversion in Google Search Advertising. The sales funnel before Internet was also known as the AIDA funnel. For simplicity, it’s good to think of the sales funnel as a three stage funnel of awareness,consideration and conversion. See how this three stage funnel is really quite similar to the four stage AIDA funnel and the buyer’s journey.
To make AdWords more effective for B2B marketing, its useful to understand some key features of B2B marketing before setting up the campaign. Here are those key features:
If you noticed, all consumer marketers do market field visits-all the time. Let’s say that a CMO or a marketer turned CEO is in town for a board meeting. You’ll find that CMO making the rounds of retailers and distributors. This after getting all those market research and insights syndicated reports. These reports break downContinue reading “Why consumer marketers always do field visits- and digital marketers should too”