applied know how
And the purpose of advertising is to Expand Your Customer Base.
In the last two weeks i’ve discussed the failure of benchmarking and the leaky bucket. If you benchmark against your competitors you can only hope to perform at best at their current level. Maybe you need to move outside your category to identify new and innovative ideas. Plus you leak customers despite your best efforts to patch your business it leaks.… Read more
It’s an apt metaphor for businesses.
We fool ourselves thinking that we bring customers in, and that they stay with us for ever and as they stay with us we can sell them more and grow.
It’s a nice picture… but completely wrong. Your business is a bucket. You attract new customers they fall into your bucket. You switch your competitor customers and they fall into your bucket… but Customers also leave.… Read more
Five years ago Binet & Field shot to marketing effectiveness fame with the launch of their first book – The Long and Short of It, a long term analysis of business effectiveness case studies from the 1980s through to the present day.
The title is a reminder of the marketers biggest challenge investing for today vs investment for tomorrow. How much should you focus on sales activation compared to brand image building inn a B2B environment. … Read more
What is the real answer to the Wolf of Wall Street challenge: Sell me this pen?
Anyone who’s seen Martin Scorsese’s The Wolf of Wall Street knows the scene. In the last few moments of the film, Leonardo DiCaprio, portraying Jordan Belfort asks a room full of salesmen at a seminar to sell him a pen. DiCaprio hands a pen to one salesman, who begins describing it: “It’s an amazing pen…” Not satisfied, Mr.… Read more
While last week, we sought to increase customer value, lets look at ways in which we can redefine customer value. What are the ways we can grow by rethinking the jobs customers are trying to accomplish and use this to create new value, then enhancing their current value, or increasing their ability to derive value from your offerings.
An important frontier in B2B sales is redefining what we consider to be customer value itself.… Read more