Articles provide insights and learning that we use and our partners find helpful.
Multiple insights below. We’ve published some and provided others that we find valuable. A focus on marketing, data, CX and AI.
ARTICLES: Our insights
4 Ways to Stand Out
The product must be compelling, but the message that describes it must be just as compelling or it won't stand out.
The secret is to communicate clearly and quickly not just your difference but how your difference makes a difference in your customer’s perception of their life or business. Such a simple concept, but so rarely done well that it can’t help but differentiate you.
4 product positioning principles that will set your business apart.
Solve a Critical Problem
Nice features and strong usability are insufficient. People are being pitched 100 solutions that all generate incredible ROI’s…or so they say. The internal priority is solving a critical problem. It could be filling a gap, fixing an issue, or tapping a market. What’s the buzz? What do people want most? You must define the overlapping circles of what you offer and what the market’s priority issues are. Focus on wrapping yourself around the overlapping area of those two circles.
Unique Selling Point
You must have something unique to offer. Not necessarily entirely unique or outrageous, but enough that it will get attention. It’s ideally the product, but it could be the pricing, the usability, the integrated back-end services or ‘doors opened’, but it must me something. Too conventional will get the reaction of “Oh, it basically like XYZ. We’ve seen that.” Intrigue them.
Value/Risk Reversal
Differentiate yourself with unusually bold guarantees that you're competition does not have the confidence to offer. Most people are genuinely honest, and if your service is what you say it is, you've got nothing to worry about. This could be the cost/benefit ratio or bundled solutions or a low-risk, easy to implement trial with trackable results. Cut the right deals and your offer will appear "irresistible" to try compared to your competition. The increased sales volume will be well worth it.
Clear, Concise Education
Here's where most companies fall down. We’ve seen entire home pages that look nice and sound compelling, but when you ask the reader what the product does, they say “Uh, I’m not sure what this is”. Create your full story for when it’s needed, then use that. Condense it to the elevator pitch. Give yourself 2 floors. Maybe 3. Don't make people try to figure out on their own why they should be doing business with you. Make it obvious…and brief.
Spend some time thinking deeply about these product positioning ideas and how we can use them to your advantage. Your market share is predicated on how well you apply them.
ARTICLES: Insights we like from others
Beyond Data Capture: Using Insights to Improve the Customer Experience
In recent years, new channels for communication have empowered customers to take more control of the conversations they have with brands. But at the same time, this has also increased service expectations. While some companies would argue this creates customer experience challenges, it also offers opportunities for organizations to deliver differentiated customer experiences and better meet consumer demand.
According to an Aspect survey*, 77 percent of Americans think companies that offer multiple channels as part of their customer service are easier to do business with and 74 percent say they provide better service. Each time a customer interacts with a company, whether it’s a Tweet, Facebook post, phone call or discussion board comment, valuable information is shared. Consumers have the expectation that the information from those exchanges are recorded and shared from channel to channel so they don’t have to repeat to a live agent what they shared earlier in the week on an IM. Many companies trail the consumer when it comes to managing this information.
But the ability to capture data is increasingly becoming less and less of a challenge. Instead, the process of cutting through the incredible volume, velocity and variety of data to find what matters and make that actionable for the enterprise is today’s real challenge. In fact, over half of customer service strategy decision-makers stated they struggle with data and that creating a single view of customer data and information is one of their biggest challenges. (read more)
How to Measure Success in Marketing
Measuring success in marketing can be challenging as it depends on various factors such as the marketing goals, target audience, industry, and marketing channels used. However, some common metrics used to measure marketing success are:
- Sales: The ultimate goal of marketing is to drive sales, so measuring sales figures can be a good indicator of marketing success.
- Return on Investment (ROI): Measuring the ROI of a marketing campaign can help determine whether it was worth the investment.
- Website traffic: Measuring website traffic can help track the effectiveness of digital marketing efforts.
- Engagement: Measuring engagement on social media platforms, such as likes, shares, and comments, can help track the effectiveness of social media marketing efforts.
- Customer Lifetime Value (CLV): Measuring CLV can help determine the value of a customer over their entire lifetime, which can be a good indicator of the effectiveness of marketing efforts.
- Brand Awareness: Measuring brand awareness can help determine how well a brand is known and recognized within its target audience.
It is important to establish clear marketing goals and objectives before measuring success to ensure that the metrics used are relevant to the marketing efforts. Additionally, it is essential to regularly analyze and adjust marketing strategies based on the metrics to improve the effectiveness of future marketing efforts.
Artificial Intelligence in Marketing
Artificial Intelligence (AI) has the potential to revolutionize the field of marketing by enabling businesses to gain deeper insights into customer behavior, optimize marketing strategies, and improve overall customer experience. Here are some examples of how AI is being used in marketing:
1. Personalization: AI algorithms can analyze large amounts of customer data to identify patterns and make personalized recommendations to customers. This helps businesses to tailor their marketing efforts to each individual customer's preferences, increasing the chances of conversion.
2. Predictive Analytics: AI can analyze historical data and make predictions about future trends, helping marketers to identify opportunities and potential problems before they occur. This enables businesses to make more informed decisions about their marketing strategies.
3. Chatbots: AI-powered chatbots can provide customers with instant answers to their questions, improving customer service and reducing response times. Chatbots can also help businesses to gather valuable customer data and feedback.
4. Ad targeting: AI algorithms can analyze user behavior and preferences to deliver targeted ads that are more likely to resonate with the audience. This helps businesses to improve the effectiveness of their ad campaigns and reduce wasted ad spend.
5. Content creation: AI can be used to create personalized content for customers based on their preferences and interests. This can help businesses to increase engagement and conversions.
Overall, AI has the potential to significantly improve marketing efficiency, effectiveness, and customer satisfaction. As the technology continues to evolve, we can expect to see even more innovative applications of AI in marketing.