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Let’s Advertise, but Where?

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ROI by Frank J. RichROI
BY FRANK J. RICH

Advertisers may be getting smarter or just more courageous in commenting just how poorly much of their “digital” media spending is falling on deaf ears. Either way, smarter is the result. Before we get our knickers in a wad, this is no indictment against the use of digital media. But like all things, the choice of “marketing” tools has its place. (more…)

May 30, 2014 |

Lessons from Cyberspace

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ROI by Frank J. RichROI
By FRANK J. RICH

A recent whitepaper concludes that all online retailers experience shopping cart abandonment (Source: Bronto Data Analysis). In fact, abandonment rates are commonly about 72 percent.

Many reasons account for the phenomenon; not least among them is the tendency for comparison shopping, something online shopping has grown in us. But the impositions of online retailers are their efforts to interrupt and delay the customer as s/he attempts to satisfy one’s needs, including post-abandonment emails, shipping mazes, return policies, obscure paths to desired products, inadequate explanations of product, services, pricing and delivery, and cart expirations. (more…)

May 23, 2014 |

Predators

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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 |
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