What is Marketing? In the Internet era, consumers don’t have to accept mediocre media and products, breaking the traditional marketing model. Today, marketing is about attracting and engaging people with great products and compelling stories, and getting your audience to talk about you.
More than ever, marketing is under pressure to help acquire and retain customers while operating within tighter budgets. At the same time, customer engagement is emerging as an important concept as customers increasingly interact with companies across many channels. Higher customer engagement is seen as an indication of the emotional connection with the brand which correlates with business success.
A better customer experience is becoming an increasingly important way to differentiate for companies. Customer engagement plays a large role in the overall customer experience. We believe that customer engagement will continue to rise in importance as competition increases and switching costs decrease. With engagement becoming a key behavioral indicator, organizations will need to be able to link points of customer engagement with bottom-line improvements. Read More
The consultancy suggests that existing ‘decentralised’ marketing functions lead to wasted expenditure, alongside making it harder to take a holistic view and develop new capabilities in areas like social media. It thus proposes forming ‘centres of expertise’ with capabilities covering all communications activity which can be leveraged across the whole company. Early adopters of this model have seen efficiency gains of 15–20%. Read More
