Showing posts with label Loyalty. Show all posts
Showing posts with label Loyalty. Show all posts

Saturday, July 29, 2017

How Ad Agencies Help Strengthen Brand Loyalty

How Ad Agencies Help Strengthen Brand Loyalty
Business owners basically have two choices to make when deciding on how best to run their business. They can decide to spend tens of thousands of dollars on advertising with the hopes of building awareness of their name, which for amateurs is a risky proposition given the high failure rate of most advertising campaigns. Or, they could decide not to advertise at all out of fear, resulting in a dearth of new customers potentially coming in the door. While this latter approach sounds risk averse, it is understandable given the lack of know how and expense involved with wearing the marketing hat without the credentials.

For businesses in the Northeast, seeking the help of Rhode Island advertising agencies can help you put your advertising dollars in the right areas while helping you save money. The Internet is a great place to advertise, but for most small companies they have no idea where to even begin. The same also holds true for offline marketing. Many business owners market themselves through mailers, coupons, radio spots and television commercials, but have no idea what questions to ask to ensure their dollars are spent on the right mediums and as efficiently as possible. This is where a Rhode Island Ad agency can offer value by showing you what to do and how to do it. Many Rhode Island advertising agencies handle marketing campaigns from soup to nuts, including design, copywriting, reporting and campaign assessment. Why would a business owner not look into this option when he or she is also most likely putting out fires and running the day to day operations of the business?

A Rhode Island advertising agency can be the most important ingredient for the long term health of a company. Companies from around the world are pouring thousands of dollars into marketing, all in the hopes of growing the business. Having experts to assist with these marketing objectives is vital to the success of these organizations, not only because they can keep advertising budgets from running dangerously in the "red," but also because they help strengthen the relationship a consumer has with the company's product or service.

There are so many places to advertise and some are cheaper than others. Many companies make the mistake of thinking that the best form of advertising may be the cheapest one. Often times this is untrue. It just depends on the quality of marketing. Rhode Island Adverting agencies are a great place to obtain some direct assistance on the most effective areas to advertise while getting the most bang for your buck.


J.R. Ellison is the author of this article on marketing objectives and Rhode Island advertising agencies.




More Top Marketing Agencies Articles

Thursday, July 27, 2017

Customer Loyalty Optimization

Customer Loyalty Optimization

"Loyalty cannot be blueprinted. It cannot be produced on an assembly line. In fact, it cannot be man-made at all, for its origin is the human heart-the center of self-respect and human dignity. It is a force which leaps into being only when conditions are exactly proper for it-and it is a force very sensitive to betrayal." - Maurice Franks (1929 - 2005), Oxford University professor.


 


Leaders throughout the ages have aspired for the loyalty of their followers. To be a leader in business, a company should concentrate on building, and more importantly, maintaining customer loyalty.


 


What makes a customer prefer Brand X over Brand Y, in spite of X's higher cost and similarity of quality with Y? What makes a customer recommend Brand Z to her friends without having any material incentive to do so? The answer is - Customer Loyalty. That is why the customer loyalty program is such a popular strategy amongst companies.


 


Customer loyalty is that Holy Grail that all businesses aspire for, but very few realize. Before setting up a customer loyalty program, there is a lot of study required to determine the why's, what's and how's. Here's where customer loyalty optimization comes in.


 


Customer loyalty optimization is the procedure by which one can analyze the people, processes and products of the company, as well as its communication with customers, to come up with several loyalty drivers and risks that find out customer loyalty. Moreover, the optimization procedure involves recommending steps to maximize the aforementioned loyalty drivers and minimize the loyalty risks to create maximum value for the customer and the company. Comparisons with competitors and eventual evaluation of changes made are also part of the customer loyalty optimization procedure.


 


As can clearly be seen, a lot of identification, collection and analysis of information is required in the entire system. This is done through market research. Market research,as defined by the ICC/ESOMAR International Code on Market and Social Research, "includes social and opinion research, [and] is the systematic gathering and interpretation of information about individuals or organizations using statistical and analytical methods and techniques of the applied social sciences to gain insight or support decision making." hence, market research is a needful to optimize the procedure of customer loyalty optimization.


 


Market research carried out for this ambition can be of two types depending on source of data - primary and secondary. Primary research is information that comes directly from the source--that is, potential customers. A company can compile this information yourself or hire someone else to accumulate it via surveys, focus groups and other methods. Secondary research involves gathering statistics, reports, studies and other data from organizations such as government agencies, trade associations and the local chamber of commerce. Depending on the type of data collected, market research can be qualitative or quantitative.


 


Customer loyalty may be intangible but will outcome in extremely tangible benefits for the company. Remember that "Customer is King", but in order to appreciate what the king wants, market research is a must.


 



Jeff Savitz – President of Savitz Research Solutions, has received outstanding reviews as a presenter and workshop leader for his thought-provoking, breakthrough market research and lively, interactive style.