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ROI by Frank J. RichROI
BY FRANK J. RICH

A quick stop at the local convenience store might net a free coffee for your partner waiting in the car, but only if you ask. It’s funny how often we don’t ask about something we believe we’re supposed to get, which is why we showed up in the first place.

“I thought I’d get a free pearl necklace if I bought something for $10, but maybe I read your online ad wrong. They’re real cultured pearls, right?” (more…)

May 16, 2014 |

I or T

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ROI by Frank J. Rich

ROI
BY FRANK J. RICH

Individual achievement is much celebrated. It is sustenance for the leader in us all, and no less than the “I” in TEAM. Yet, most organizational experts make a great fuss of teams and their essential value to organizations and organized achievement. How can the two seemingly antipodal views coexist? (more…)

May 5, 2014 |

Yes!

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ROI by Frank J. Rich

ROI
BY FRANK J. RICH

Customers are a funny breed of people. They’re just like you and me when not in a shopping mode; then they change curiously into someone else. When customers contact your place of business they’re looking for a confirmation of themselves. Your primary job is to give it to them. Let’s reduce this to the simplest form of expression that’s capable of causing an effect. What is the one thing we can say to people making a request of us that encourages them every time? “Yes!” This simple equation is so pervasive and compelling that I am asked about it more than most others. For this reason I’ve re-casted this article to say again what needs to be said every day and in every way possible. (more…)

April 25, 2014 |

Certain Truths

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ROI by Frank J. Rich

ROI
BY FRANK J. RICH

Buyer Personas

Whether you think it, believe it, or discard it … the truth is that buyer personas are the start of every successful campaign. Every marketer knows that understanding your buyer is key, but every smart marketer knows that standard demographics just won’t cut it anymore. (more…)

April 18, 2014 |

How Valuable Is Your Existing Customer?

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ROI by Frank J. Rich

ROI
BY FRANK J. RICH

The “customer” is used loosely to describe the one we have and the one we hope to gain. Both are critical to the success of all organizations, even those who call their customers patients. But the distinction is worthy of time spent in appreciating the existing customer. Analysis concludes it is roughly 2.5 times more expensive to acquire new customers than to maintain existing customers. The customers we have carry the potential for the retention revenue model all organizations seek. The risk in them is far lower than in a customer we have yet to gain. So where will most organizations spend in 2014, and why? (more…)

April 14, 2014 |

The Buying Difference

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ROI by Frank J. Rich

ROI
BY FRANK J. RICH

In the effort to determine what influences the buying decision—more than anything else—both science and art have traded places over the years. Is it what’s said about a product that compels the buyer, or the way it is said? Is it the force of a recognizable brand? Or, maybe, it’s the association of the product with another brand, such as an ad for weight loss in The Wall Street Journal.

The question dogs us, even to this day. With brands taking the limelight as Main Street struggles to find its own recovery, consumption off by double digits, and pressure from all things digital, its seduction— the ease in promotion that never arrives, we hope beyond all else that the tide rises and raises us with it. But the question remains: “How do we influence the buyer to become a customer?” A recent study by Nielsen gives some clues. (more…)

April 7, 2014 |

Inside the Buyer…

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ROI by Frank J. Rich

ROI
BY FRANK J. RICH

For all the effort we put into sales and marketing we are seldom close enough to the customer to learn his desires and his habits. More than the demographic and geographic data that identifies target audiences and market segments is the very specific information that reveals their buying habits while they are forming. The tales of buyers’ whimsy and capriciousness are bruited about as though legend were the purpose in enterprise. Unproductive and distant from the respect for all, especially those who vote with their dollars, is the notion that the buyer is the homogenized effluence of patterned behavior absent real intelligence. Nothing could be further from the truth, nor ought we overestimate the potential in individuals and buyers. (more…)

March 28, 2014 |
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