Millennials have become the most significant consumer segment currently in times to come. These decision makers grew up in digital age, internet is like air and they are always connected to friends, so much so that these interactions have become a pivotal part of their decision making. These are digital natives.
Posts from the ‘Marketing’ Category
Smart marketers understand that traditional marketing is becoming less and less effective by the minute, and that there has to be a better way.
Enter content marketing.
Content marketing is a marketing technique of creating and distributing valuable, relevant and consistent content to attract and acquire a clearly defined audience – with the objective of driving profitable customer action.
iBeacon, a micro-location technology based on BLE (Bluetooth Low Energy), can revolutionize the way one physically interacts with brands and products.
Scenarios include available parking spots messaging your phone as one drives by, or setting up beacons at home, so a smartphone could automatically turn on the lights at arrival, or trigger other appliances based on a personalized set up. It could even notify someone else.
Imagine one can simply take a picture at a grocery shelf and order online. Future? No, present by Amazon.
With the new version of Amazon shopping app one can simply take pictures of the goods to be bought and an image recognition algorithm identifies them and builds a shopping cart.
Once again, solving the tremendous inefficiency of replenishing one's pantry will provide Amazon a sustainable competitive advantage.
In today's corporate world, measuring customer satisfaction is ubiquitous to any business unit scorecard.
Yet, not too many companies measure the complete customer experience, or the integration of the multiple touch points that build the complete customer journey.
Successful companies will know how to marry customer intimacy with technology innovation and will focus on solving problems vs. just delivering devices and technology.
The Brand Advocacy Index, recently launched by The Boston Consulting Group, can help marketing executives realizing their efforts on driving word of mouth, on identifying the identities and motivations of advocates, and on determining the rational and emotional factors that motivate consumers and non-consumers to recommend a brand.
IBM just release the results of a survey of marketing professionals and identified that customer’s experiences remain the top priority.
Moreover, the top challenges identified are customer acquisition and customer retention, prompting for a close synergy between marketing and sales.
When deciding between multiple products, consumers tend to value more the one that creates motivational fit with his focus.
Furthermore, consumers who choose products while experiencing motivational fit are later significantly more satisfied with their selections.
By aligning the product benefits with the consumer’s motivational fit, one can obtain higher profits and improve the product’s perception throughout the consumer decision journey.