In a world where marketing and advertising messages bombard consumers at the rate of several hundred or more per day, gaining a competitive advantage seems like a battle. Direct marketers understand this battle all too well, especially those on a budget. The direct response marketing tips below should help you gain traction over the competition and develop a competitive advantage setting you on a course for increased profits.
A recent study by Microsoft reviled that humans have less attention span than goldfish. In 2000, the average person’s attention span was 12 seconds as compared to 8 seconds in 2013. Goldfish have a 9 second attention span.
While traveling on business, I struck up a conversation with a colleague of mine about today’s business climate and the overall health of his industry. After a brief discussion I asked, “Who handles your marketing communications?” He smiled wryly and said, “We do it ourselves.” He reached into his briefcase and with great pride handed me a sample of his work. He explained how wonderful computer programs are that offer companies an alternative to hiring agencies. His marketing literature was grotesque.
The rest of the trip, I pondered his literature and mindset. It occurred to me that one of the biggest threats facing the advertising industry comes from those who believe they can do it themselves. It begs the question, “Is the price of custom work still valuable to the average client?” For some the answer is, “No.” I wondered what might be driving this point of view.
Anyone in business can tell you that customer complaints are all part of doing business. After all, you’re dealing with people who have needs and wants and when those needs and wants are not met, the potential for a complaint increases. To survive and thrive as a business owner, you’re going to need a customer complaint management procedure.
Companies may believe they have a good handle on customer satisfaction by tallying customer complaints and responding to those complaints. However, research has shown that 25 percent of dissatisfied customers who buy from a firm, only 5 percent register a complaint.
Net Promoter Score is a simple marketing matrix used to measure the degree to which current customers will recommend a product, service, or company to their friends, family, or colleagues.
“The only sustainable leadership is thought leadership.” It was a powerful statement, one that resonated with me throughout the summit, after Bill Taylor, Cofounder and Founding Editor of Fast Company and the author of Practically Radical and Mavericks at Work, made the statement during the opening of this years Milestones in Leadership Summit in Southern California.
Using the calculator below, you can calculate the markup on cost percentage of a product.