Every business and event whether new or existing requires cost-effective marketing. Keep the costs down is the mantra on every business owners and event organiser's lips.
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Tips for Innovative and Cost-Effective
Every business and event whether new or existing requires cost-effective
marketing. Keep the costs down is the mantra on every business owners and
event organiser's lips. So how exactly do you
undertake cost-effective marketing but still
manage the get the biggest bang for the money?
At the absolute core of the “how” is need to being
understanding how the customer of today
reacts, what they see and accept and most
importantly, where to find them.
The Business Schools will tell you that marketing means giving your
prospective consumers a product or service that they may not even
yet realise they need. How? By creating the need in the minds of your
B-Schools today have added a new precision weapon in marketers formidable
arsenal -it is called customer focused 'content strategy'; i.e. creating content
that perfectly complements the products or services that are offered. Content
strategy is built on the three pillars of feedback, advocacy, and support. These
three pillars in turn are embedded in
A key marketing tool is innovation
and B-School professors love to
narrate the story of a manufacturer of
T-Shirts who was struggling with sales until one day, his son while looking at a
design in a magazine said, “Wish I could print this design on my T-Shirt”.
In a World crowded with retailers, manufacturers and service providers; the
sales battle is won by offering innovations that improve customer experience.
For instance, at the height of recession and job insecurity, Hyundai not only
started offering its vehicles on instalment payments but also assured its
customers that if they lost their job within a year of purchase of their vehicle,
they could return it without any financial penalties.
In more recent and currently highly competitive environment, Virgin America
created a focus group program called 'VX Next', which was a group of 30
frequent flyers who were also entrepreneurs. Their role was to generate ideas
for Virgin America in return for
flyer rewards. Being fliers as well as
entrepreneurs, they were intimate
with both sides of the coin – user
experience and the need for cost-
effectiveness. The VX Next group
resulted in some highly innovative
A stellar example in use of technologies in cost-effective Lead Generation
Campaign innovation was achieved by Netflix; the producer of TV content and
premier online video streaming platform. Their innovative and cost-effective
Online Lead Generation Strategies consisted of implementing data analytics
of consumer viewing behaviour and demand. They termed the process “reverse
engineering Hollywood” and they reaped volumes of data on consumer
insights. In fact, today Netflix possess a stockpile of customer behavioural data
vis-a-viz Hollywood entertainment that is totally unprecedented.
They know exactly what the
current trend is and they know
nobody out there is going to give
you a 1-2-3 kind of “do this” and
“do that” to achieve marketing
bliss. The common thread running
through all these cost-effective
marketing ideas is innovation and one of the key players in this field is right
here in Australia - the Marketing Academy Group. Call them today at +61 (0)
427 255 542 or visit them at http://marketingacademygroup.com.au