After reading the section on CLV in Chapter 4, it was clear that my company purely used CLV as a statistic vs. valuing its principle of investing upfront for the longer term gains that come with customer loyalty and increased business. There was no serious interest in the back end. Is this the challenge for younger Internet firms?
To compliment the Safeway example in our text, I searched online for other examples of CLV use and found this December 2011 Wharton article assessing investments by these tech companies: Amazon’s Kindle Fire, Verizon’s FiOS, Sprint and the iPhone, and Netflix’s streaming service. What I found valuable were the perspectives from four Wharton professors on the pros and cons of CLV with each of these live business ventures. They even included mention of Netflix’s recent mishandling of its service change communication within the context of a smart business decision.
Wednesday, February 8, 2012
Sites, Suggestions as You Start Paper
There are a lot of people doing their papers on non-profit organizations. That's good. For a lot of you it does represent 'getting out of your comfort zone' and you may not be familiar with an important informational site. Charity Navigator provides important insights into how charities and their donors measure success. It only covers US non-profits; there may be similar services in other countries/regions, and it would be interesting if some of you find them. It is a site that all of us should be familiar with. Their tagline says it all: "Find a Charity You Can Trust."
There are also people doing their papers on educational institutions. In higher ed, the "competitors" are called "peers." The point is less competition than it is to benchmark against their operations. There are tools for an institution to determine its peers, but I doubt that any outsider would have the data to use them. A search turned up a list of the peers for any institution I checked, so that's easy. As a last resort, you could ask them. You'd probably have to go through the press/media relations office.
And for everyone, in the Searches Related To at the bottom of Google search pages you may find some hints about who the major competitors are. I wouldn't take this as definitive, but it's worth keeping an eye on.
I hope by now that you have not only set up one or more Google Alerts for your brand, but you've also signed up for all the customer communications they offer. Over time that will give you insight into their marketing strategy, but you can't do it the week before the paper is due and expect to get useful information.
There are also people doing their papers on educational institutions. In higher ed, the "competitors" are called "peers." The point is less competition than it is to benchmark against their operations. There are tools for an institution to determine its peers, but I doubt that any outsider would have the data to use them. A search turned up a list of the peers for any institution I checked, so that's easy. As a last resort, you could ask them. You'd probably have to go through the press/media relations office.
And for everyone, in the Searches Related To at the bottom of Google search pages you may find some hints about who the major competitors are. I wouldn't take this as definitive, but it's worth keeping an eye on.
I hope by now that you have not only set up one or more Google Alerts for your brand, but you've also signed up for all the customer communications they offer. Over time that will give you insight into their marketing strategy, but you can't do it the week before the paper is due and expect to get useful information.
Tuesday, February 7, 2012
Changing Trends in how companies are using social media as an effective internet marketing tool
Even though social media is a relatively new form of internet marketing, there are changes happening in how companies are effectively using this as a way to engage their customers. See recent article http://www.emarketer.com/Article.aspx?R=1008816&ecid=a6506033675d47f881651943c21c5ed4
This could be an indication of further stratification within the various tools comprising social media. Corporate blogs seem to be losing some of their lustre while the use of Twitter and Facebook seem to be gaining ground. Is this more a reflection of the inability of marketing departments within corporations to engage prospects and clients using specific instruments of social media, or is it because of the prospects proclivity to be receptive to different vehicles within the social media environment, or a combination of both ?
This could be an indication of further stratification within the various tools comprising social media. Corporate blogs seem to be losing some of their lustre while the use of Twitter and Facebook seem to be gaining ground. Is this more a reflection of the inability of marketing departments within corporations to engage prospects and clients using specific instruments of social media, or is it because of the prospects proclivity to be receptive to different vehicles within the social media environment, or a combination of both ?
Monday, February 6, 2012
Game Changer: In Video Entertainment
Verizon and
Coinstar’s Redbox form joint venture to Create New Consumer Choice for Video
Entertainment. The venture’s
services will offer all of the convenience, simplicity and value of Redbox® new
release DVD and Blu-ray Disc® rentals combined with a new content-rich video
on-demand streaming and download service from Verizon.
I work for VZ. In 2012, Verizon is going to provide more innovative products and exciting things in consumer video on demand.
I work for VZ. In 2012, Verizon is going to provide more innovative products and exciting things in consumer video on demand.
Superbowl - A view from the other side of the world
Having gone through this blog, I wanted to know the result of the game when I got up in the morning today. I am currently working in Bahrain (Middle East) so I checked the local news paper, Gulf Daily News and The Times of India, none of theese papers had any news related to the Superbowl. Forget the front page, even the sports section did not have any mention.
The only superbowl related information I found was in Khaleej Times, one of the largest selling news paper in the United Arab Emirates, in its entertainment section, with the headline 'Madonna dazzles with slick Super Bowl halftime show'. This 400+ word news item does not even mention the names of the teams playing in the superbowl.
Most locals in this region do not know what the game is about so all the hype, hoopla and advertising is lost on them, but Madonna is not.
Sunday, February 5, 2012
Free commercial for Vogue?
While watching the Superbowl I found many of the commercials exceptionally interesting. I did indeed find myself asking half way through several commercials, "What exactly is being advertised?" As profesor Roberts mentioned in last weeks class. I then realized this may be exactly the marketing strategy in use. When I was aware of exactly what company was being advertised I almost tuned out. When I wasn't able to determine the company immediately I paid more attention.
The most intriguing advertising was that of Vogue magazine. This article informed me that Madonna was not paid for her halftime performance. I could only wonder if Vogue magazine influenced Madonna to include the song "Vogue" in her line up. It was indubitably a stupendous advertisement for the magazine. As I stared at the TV with the cover of Vogue magazine flashing at me I couldn't help but think how I would like to own a copy.
The most intriguing advertising was that of Vogue magazine. This article informed me that Madonna was not paid for her halftime performance. I could only wonder if Vogue magazine influenced Madonna to include the song "Vogue" in her line up. It was indubitably a stupendous advertisement for the magazine. As I stared at the TV with the cover of Vogue magazine flashing at me I couldn't help but think how I would like to own a copy.
Sharing all your readings on scoop.it
An interesting website I would like to share with everybody is www.scoop.it
You can create a page gathering all the articles you read on the Internet.
The easiest way is to create an account and add the shorcut on the browser bar: when you are logged in, you just have to click to post the article your read.
My page is below:
http://www.scoop.it/t/create-value-from-now-until-2020
Please feel free to ask questions.
You can create a page gathering all the articles you read on the Internet.
The easiest way is to create an account and add the shorcut on the browser bar: when you are logged in, you just have to click to post the article your read.
My page is below:
http://www.scoop.it/t/create-value-from-now-until-2020
Please feel free to ask questions.
Subscribe to:
Posts (Atom)