customer engagement
“Marketing is a Revenue Generator - NOT a Cost Center!” If you’ve been involved in marketing for any length of time, it’s likely that you’ve heard something like this before.
I can’t count how many times I’ve sat in on meetings where I felt compelled to defend my marketing budget. “It’s an investment in growth,” I said, as the others on the senior management team rolled their eyes.
Does nothing change???
The Economist Intelligence Unit’s newest study, “The rise of the marketer: Driving engagement, experience and revenue,” found that “business owners view marketing both as revenue drivers (69% agree, 19% strongly) and cost centers (68% agree, 26% strongly). At most companies, the business owners know that marketing drives revenue, but the view that marketing is a cost is just as widespread.”
Huh? Can it be both?
Over the next 3-5 years, respondents expect that the marketing function will migrate from the cost side of the ledger to the revenue side. And, what will drive that? Several things…
Every once in a while, I have a dynamite first brand experience as a consumer. And, it makes me think just how easy it is for any business or nonprofit to replicate. And, it doesn’t cost a dime!
Case in point… Dutch Bros. Coffee. Maybe you’ve never heard of this company - it has 200 company and franchised locations in only seven U.S. states: Oregon, California, Washington, Idaho, Nevada, Colorado and Arizona. However, I wouldn’t be surprised if one day, it will be as ubiquitous as Starbucks. The reason? They made my brand experience amazing! Continue reading
Marketing orchestration - a new buzz phrase coined by Forrester research for Responsys. What is it?
“An approach to marketing that focuses not on delivering standalone campaigns but instead on optimizing a set of related cross-channel interactions that, when added together, make up an individualized customer experience.”
Hey, Forrester, have you seen my speaking topic, entitled: The Internal Marketing Symphony Orchestrating [Department Function] Marketing Across the Organization?
