Posts Tagged ‘marketing’
Find, Win, Keep & Grow high value customers online
Find-Win-Keep-Grow is a simple yet powerful business concept I learnt from Eugene Moreau years ago. Eugene, who is currently part of our newly formed advisory board has played a vital role in helping us solidify our core business strategy in 2009. All he did was drive our attention and focus to this simple 4-step strategic model.
Find-Win-Keep-Grow is not a marketing concept; in fact it is such a concept, that once understood can unleash a spirit of excellence like you have never experienced before. This concept will force you to think beyond the norm and dissect your business model from the eyes of a customer.
Everyone is my customer
Recently I was involved in a consulting gig for developing an enterprise level practice management solution for the health sector. During the discussion, after having spent a good deal of time doing the whole system analysis and needs assessment, a question was thrown on the floor – “Who are your end customers”.
While in this instance, the guys had a pretty good understanding of who that was, so often I come across businesses with brilliant ideas and innovative concepts that fail to understand, let alone define their target market.
In search of the most effective marketing channel
How effective is a marketing channel - Copyright Genesis Interactive
Effectiveness of a marketing channel was measured using the following 8 criterion.
- · Is the channel Low Cost
- · Does the channel have a broad reach
- · Does the channel allow personalisation (1 to 1)
- · Does the channel deliver targeted messages
- · Does the channel offer any viral features?
- · Can the results be tracked?
- · Is the channel easy to access?
- · What is the longevity of a channel
Each criterion was scored out of a total value of 100. The scores are plotted on the line graph from left to right (highest to lowest). So, the highest socre has highest effectiveness.
Questions around cost were normalised using comparative value proposition offered by each channel.
We considered advanced targeting abilities as a measure for the “target-ability” property of a channel
Reach – Global = Maximum, Local/Regional = Minimum
Tracking: We consider a campaign trackable if you can quantitatively define the number of responses and conversions.
What do you think? Any comments?
