Bet you thought customer loyalty was an important marketing objective. So did I. Surprise! 😮
According to McKinsey & Company, “Consumers, including those you may have thought loyal, are considering someone else’s offerings more often than you realize.”
It appears that “new technologies and greater choice are changing how consumers are thinking and acting across their consumer journeys.” This is especially true for online purchasing where shopping apps “showcase options, simplify pricing, compare product specifications, and facilitate peer reviews is making it possible to size up brands effortlessly.”
That makes online comparison shopping very easy. As an example, last week I purchased an item from a seller who priced the product 35% lower than all other vendors! Now, that’s a big savings. Continue reading
It’s no longer about traditional or digital. It’s all marketing.” MillwardBrown Digital, Getting Marketing Right, 2016
Hallelujah! Finally, the recognition that marketing includes a mix of digital and traditional channels.
Thanks to MillwardBrown Digital, we now have study results that demonstrate how an effective marketing mix can include both traditional and digital channels. I’ve been saying this for eons, but it seemed like I was part of a minority. 🙄
Here’s another good quote from the study:
There are no lines between traditional and digital marketing.”
If your organization has customers, then it’s important for you and your team to know and understand the most commonly used and important customer-related definitions used today. If you’re a marketing professional, chances are you’re familiar with these terms. But, if you’re not, and you manage marketing without a great deal of background in it, or you simply have an interest, this is for you!
These definitions are the ones I included in my book because I thought they best described the terms without any mumbo-jumbo, marketing-speak. 😉