February 24, 2014
Recent studies have shown that consumers are more interested and responsive to marketing messages that are personalized to them. This means the content is tailored to the consumer’s specific interests or past product purchases, and could also include their name, location, demographic or age, and other characteristics that is unique to each customer. Customers have created a high demand for very personalized marketing in recent months.
Marketers have heard this preference for personalization from consumers, and are doing their best to respond and find what works best. According to an article by eMarketer, “three-quarters of US senior-level marketers and agency decision-makers agreed that ‘individualized messages and offers will be more effective than mass messages/offers’ this year, and about the same percentage said ‘personalized one-to-one marketing is the future.’”
Results from personalized marketing campaigns have shown a higher response rate and increased sales, which helps to offset the higher costs associated with building and launching a heavily personalized marketing campaign. Stronger brand perceptions were also an outcome of personalized campaigns. These campaigns are bringing a positive uptick in customer loyalty, as those customers who are receiving more personalized marketing also tend to make repeat purchases.
February 6, 2014
Customer loyalty is something many marketers overlook, since many marketing dollars are very much focused on new customer acquisition. However, loyal customers can be much more profitable to your brand, with a Marketing Metrics study showing that marketers are 60-70% more likely to sell to an existing customer over new customers (5-20%). Attracting a new customer can cost a company up to six times more than retaining a current customer.
Creating customer loyalty starts with great customer experience. This includes not only the product, but the customer support that accompanies the product. According to a Harris Interactive study, 73% of customers love a brand because of friendly, positive customer service. Two-thirds of consumers would be willing to spend more with a company following great customer service, however, 55% of consumers would stop all purchasing with a company after a poor customer service experience. This shows just how important providing great customer service is to increasing customer loyalty and retention.
Ask for feedback. This makes customers feel that your brand truly cares about their experience. Feedback will also help you see where your brand is lacking in specific areas. This is another area where great customer service is very important. Have a complaint? Handle it quickly and effectively. This will lead to better customer feedback, which is great word of mouth marketing that can be displayed directly on your website or social media page.
Loyalty programs. According to McKinsey, only 12% of all marketing dollars are spent towards customer retention. As discussed previously, loyal customers are where the best profit lies. A loyal customer can be worth up to ten times the amount of a single purchase. To encourage loyalty, create a loyalty program for your customers. Make this program personal, customized, and relevant for your customers. Provide offers or coupons, remember their birthday, and reward those who continue to purchase your product through small freebies or better coupons. When you make an effort to provide great value to your customers, they will reciprocate with their loyalty for your brand.
NEW YORK, Feb. 3, 2014 /PRNewswire/ – Meredith Corporation (NYSE: MDP), the number one media company serving American women, has been recognized as the Highest Rated Media Company by Advertiser Perceptions in its annual AIR report, the second time Meredith has received this honor in the last four years.
Twice a year, Advertiser Perceptions surveys thousands of leading agencies & marketers regarding the media brands they are considering for advertising. The Advertiser Perceptions annual survey evaluates media companies and brands on a number of key metrics including Brand Strength, Sales Knowledge, Customer Service, Advertiser Satisfaction, and Overall Media Company.
Meredith’s Parents magazine was named the number one media brand in Customer Service in the print category.
“We are excited to once again be chosen as the number one media company by Advertiser Perceptions,” says Tom Harty, President, Meredith National Media Group. “We are proud of the incredibly hard work by our marketing and sales teams, who constantly challenge themselves to deliver best in class service to our customers and marketing partners across media channels.”
The survey also evaluates a range of media types such as print, digital content, digital portals and social media, digital ad networks, television, and mobile as well as overall media company.
“Combined with our award winning media brands, multi-channel editorial content teams, and innovative products such as the Meredith Sales Guarantee, we are committed to connecting marketers with women on what matters most to them in their lives, homes, and personal development,” said Harty.
Harty states that the selection of Parents magazine as the top magazine for Customer Service reflects the team’s dedication to leadership in the category and incredible engagement with millennial moms.
“We are passionate about bringing innovative solutions to our marketing partners not only with Parents but across our portfolio of brands that reach 50% of millennial moms,” says Carey Witmer, EVP/President, Meredith Parents Network. “Whether it is with experiential events, social media, broadcast, mobile, tablet, or our core print titles, we have 35 million monthly touch points to help our marketing partners connect with them throughout the day. We know from our research that these women value the difference premium brands make in helping them manage and enjoy their busy lives.”
The Advertiser Perceptions Highest Rated Media Brand recognition is based on surveys of thousands of U.S. media decision makers each year who represent the largest advertisers worldwide. The survey is based on the average AIR ratings for Spring and Fall 2013 waves across a broad spectrum of metrics and media types. In 2012, Google was the highest rated media company, and in 2011, ABC Television Network received the prestigious award.
“Meredith’s use of research-based insights including innovative programs such as the Meredith Sales Guarantee, and focus on solution based strategies that leverage their broad base of media assets to drive ROI for marketers was key to their strong performance in this year’s study,” says Ken Pearl, CEO, Advertiser Perceptions. “They are to be congratulated on their success in receiving these top honors especially given today’s highly competitive media marketplace and rapidly changing landscape.”
January 30, 2014
This case study shows the findings of a Millward Brown study that investigated how the brain processes marketing materials. The study stemmed from the UK’s Royal Mail desiring to know if there were any differences between physical or digital media in relation to communication effectiveness.
In order to find the answer to this question, Millward Brown conducted their research using MRIs to scan the brain to measure emotional response to different forms of communication. They found that the “research strongly suggests that greater emotional processing is facilitated by the physical material than the virtual.”
January 27, 2014
In an effort to boost ROI for marketers and to keep mail relevant in a technology-driven world, the USPS is contemplating adding scannable codes to direct mail pieces. These codes would allow customer interaction with a mail piece, whether it be through a mobile website, a survey, or sweepstakes entry. This interactivity would also allow marketers to gain insight on how customers interact with advertising pieces.
These codes would either be a QR code, an intelligent mail barcode, or some other code that would allow users to access information with their smartphone by scanning the code. Users would most likely need some sort of incentive or call to action on the direct mail piece so that they would participate in scanning the code. The USPS hopes that the potential addition of these scannable codes will keep direct mail just as relevant and interactive as digital marketing.
By using the codes, the USPS can also offer more detailed tracking and information about how customers interact with marketing pieces to marketers. This information can be very valuable to marketers to help them understand how to communicate with their customers more effectively, and how to make marketing messages even more targeted. This can lead to more effective campaigns and higher ROIs for marketers.