Past Results Are No Guarantee of Future Performance: Five Rules for the New Marketing
Tags: Marketing Services, Customer Acquisition
With a sound foundation of customer insights, you're ready to implement some data-driven, low-risk, high-efficiency programs that will set the platform for solid, sensible growth.
Chief marketing officers (CMOs) are being held accountable for delivering results on every marketing dollar spent reaching their target audiences. Not only must they increase revenue and return on investment (ROI), but they also must control costs and determine which channels are the most appropriate for engaging prospects and customers. In addition, they must be prepared to shift their marketing focus rapidly to meet ongoing changes in consumer tastes and behaviors and respond to competitors strategies. Consumers are cautiously spending again, but the recent economic downturn has reset some core habits (i.e., spending beyond one?s means, conspicuous consumption), and value is the new watchword. Consumers are considered and careful in their purchases and they are doing their homework (often online). Black Friday and Cyber Monday sales are up ever so slightly but average purchase price is down. So what?s a marketer to do in this still-difficult spending environment.