Target your customers without overstepping the mark.
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Megadeals are the holy grail for many organisations. It’s not unusual for 40% of projected revenues to come from just 1% of deals.
Losing one can mean missing revenue targets. But winning one on the wrong terms can destroy value because of bad pricing or terms and conditions.
Here are seven ways to win the right megadeals.
Marketers must ditch “best practice” and avoid a predictable approach in order to differentiate their brand from the competition, writes Rory Sutherland for Raconteur.
Most businesses love rules. Follow the rules and you’ll be safe.
This might work for the accounts department, argues Sutherland, but marketing is different. Successful marketers do not follow rules.
Marketing is one of the most rapidly developing areas of the business world and your company needs a champion with the qualities to embrace that challenge for the long haul, writes David Clarke for Strategy+Business.
It’s not so many years since the extent of most companies’ marketing efforts was an advert in the telephone directory. Today it’s a specialised field.
If you don’t know what the demand windows for your products are, not enough of your customers will be demanding them.
“The most predictable characteristic of today’s consumers may be their variability,” say Emre Sucu, Matt Egol, and Edward C. Landry writing for Strategy+Business. The predictable customer of a certain age, gender and postal code is a thing of a past.
If you want to succeed in the digital marketplace, embracing the mobile culture is paramount.
Six billion of the world’s inhabitants now have mobile phones. And we use them for instant access to all the information and interaction we need – for both business and pleasure.
The demographics of the future won’t be the same as those of the past, or even the present
Marketers need to be aware that “older demographics that exist today will be wiped out and new ones will emerge.” The cost of living is rising and consumers are struggling to get on the property ladder. This will impact on the life trajectories of different demographics across the UK.
Digital and social media hold enormous potential for capturing data on customer behaviour and preferences, but how can marketers untangle and make best use of the key information?
Insights can be drawn from various digital data sources, including social media activity, online searches and even geolocation.
The move towards specialised marketing training is provoking a wider debate over the need for qualifications.
What skills and knowledge do you look for when hiring marketing executives? Do you favour candidates with generic, degree-level training? Can you see more benefit in them learning on the job, or would it be valuable to be versed in your industry before they even step through the...
Expensive marketing campaigns might bring you a stream of new customers, but it’s more cost-effective to sustain the loyalty of the ones you already have.
Winning fresh customers might seem the obvious way to expand, but research has shown that purchasers who come back repeatedly can be far more valuable to your business than a one-off customer.
The world is choking on marketing materials, but a good street team can cut through the clutter like a breath of fresh air.
If you are looking to raise brand awareness, build loyalty and increase sales, you need to utilise the power of human engagement. Interact directly with consumers, enabling them to connect with your brand on a personal level, rather than via a computer screen....
Converting leads into sales is becoming increasingly difficult in today’s chaotic digital landscape, writes Brian Hughes for Entrepreneur.
Even for the most seasoned marketing professionals, today’s digital landscape can seem daunting. Multiple marketing channels and constantly changing consumer behaviour and expectations can lead to confusion.
In a world where consumers are continuously bombarded with choice, companies must invest in finding out why they are losing sales and how they can plug the gaps.
Advertising might persuade a customer to consider your brand, but there are several more steps they have to take before they click ‘buy’ on your website or hand over their cash to a member of your in-store sales staff....
Companies competing in this era of disruption must adopt agile marketing practices or risk becoming irrelevant.
On average internet users decide whether or not to leave a web page after just three seconds’ browsing; the proliferation of information brought on by rapid technological innovation means that being able to get things done quickly has become more important than ever....
If you want to build great consumer experiences, make customer service your company’s priority.
Despite the service industry’s predominance in the private sector, most service companies still use operating models designed for the manufacturing industry, where the focus is on the quantity and quality of goods produced rather than interactions with customers.
Digital disruption and the rapid pace of change mean no marketer can be an expert in every channel.
Writing for Marketing Week, Jonathan Bacon takes a look at how the rise of personalised marketing and digital channels has left employers facing an increasingly wide skills gap, as they struggle to identify exactly which skills they should be recruiting for.
What is it that keeps some brands alive for decades, or even centuries, while others suddenly emerge and just as quickly disappear? Steve Olenski, writing for Forbes, identifies six approaches that distinguish we-established brands from the rest.
Olenski sees brands as being pressured by the marketing hype surrounding each new trend, and by continuous demographic shifts.
A customer is delighted to discover a new grocery delivery startup. He sends in suggestions he hopes will improve the service. In return he receives a stream of promotional emails. The customer feels ignored and cuts his order.
Innovation isn’t just for startups – established companies can attack new markets too.
Incumbent firms operating in mature, saturated markets should use the power of their brands to tap the growth potential of new sectors, say Jean-Baptiste Coumau, Victor Fabius and Thomas Meyer writing for McKinsey Insights.
Marketing executives often fail to capture the hearts and minds of stakeholders, writes Lisa Nirell for Fast Company.
CMOs might be well versed in social media, content marketing and branding, but when it comes to conversations with fellow executives, it often seems as though they’re speaking another language.
Becoming the authority in your field is a great way to grow your business, says Brian Horn, writing for Entrepreneur.com.
The author outlines seven easy ways to become your industry’s next expert:
1) Educate. Offer your customers free and valuable information, via blog posts, seminars and newsletters.
For some entrepreneurs, things seem to fall into place on their rise to financial success, observes Jayson Demers, writing for Entrepreneur.com.
However, in spite of appearances, their success is not down to luck but rather an understanding of the importance of learning, adapting and growing, says the author.
Marketing and IT will need to work better together if they want to generate big revenue from big data.
Big data necessitates a “marriage of convenience” between CMOs and CIOs – both of whom are responsible for turning this new resource into profit, explain Matt Ariker, Martin Harrysson and Jesko Perrey, writing for McKinsey Insights.