Archive for the ‘Marketing’ Category
For Hire! Searching for My Next Career Opportunity
You may have heard around the social media water cooler that I am looking for a job. It’s true!
The economy is in the tank and jobs are limited—especially marketing, PR and communications jobs. Thankfully, I have been able to tap into a network of friends and colleagues that have been supportive, generous, and helpful.
People have been asking me “What are you looking for?”
One can hardly provide a smart response in 140-characters, no matter how many years they have been on Twitter.
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Saturday Morning Reads: Changing the Tune… Fan-Centricity in the Music Industry
I am not sure what triggered me to think about the music industry today. When it comes to music technology, I am a late adopter. I got my first iPod in 2009 and it was only because it came with my iPhone. Next was the discovery of music identification apps like Shazam and SoundHound and Internet radio services like Pandora.
Today, how I find, purchase and create my own music experiences has completed changed. That said, I would be remiss if I did not mention that 90% of my day is still listening to a favorite local radio station—WXPN. Now, however, I don’t just listen, I actively identify new songs with an app and purchase them right from iTunes within 30 seconds.
Perhaps these experiences provoked a curiosity to find out how music aficionados continually drove major shifts in the music industry—the shifts that fans now enjoy every day—and how executives have had to cope with becoming fan-centric.
In Forrester’s 2009 report, Music Product Manifesto: The Product Features That Will Save Recorded Music, they propose six basic consumer music rights:
- The right to great customer experiences first (and business models second).
- The right to unique music experiences.
- The right to share in the creation process.
- The right to share [music].
- The right to fair use of technology.
- The right to be social.
The music industry is over 100-years old. One would think that it would be difficult to change its business culture and practices. Yet, tectonic shifts have occurred in a relatively short time.
Those shifts have allowed fans to get closer to artists, artists to become successful without music labels, and fans to create their own experiences. It makes this marketer wonder if other industries could live up to this type of pressure and—more importantly—what will it take to understand that they are no longer in control.
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Tags: Fan-Centric, Marketing, Music Industry, Music Technology | 
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Marketing Dollars & Sense: Calculating Return on Investment
In my recent post, “The Return on Investment (ROI) Craze Won’t Last,” I stated that the demand for ROI would not last because most organizations, agencies and marketers will struggle to gather all three necessary points of data: Net Profit, Sales and Investment. Without this information, marketers cannot provide ROI—it is that simple.
To be clear, I did not say that I was not a proponent of delivering ROI for social media or any marketing expenditures. Providing ROI is very important, especially if marketers want to prove their worth to an organization.
If you agree, this post is for you.
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Saturday Morning Reads: What Is Your Lifetime Customer Value?
Yes, it is a double entendre if you didn’t catch it.
When was the last time you asked, “what is the lifetime value of our customers?” (also known as customer lifetime value ), or –more importantly— “what is the lifetime value we offer our customers?”
Is it smart to have one without the other? I don’t think so.
Is calculating CLV a normal event for your organization? I don’t know about you, but calculating ROI seems like child’s play compared to calculating CLV.
Let’s take a look, shall we?
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Tags: CLV, Customer Lifetime Value, Marketing, Marketing Management |
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Rethinking the Marketing Mix from the Customer’s Perspective
Dumping the marketing mix is tough. It’s like replacing well-worn shoes or pair of jeans. When something is comfortable, it makes it even more difficult to toss it aside for something new that could take years to break in to the point of comfort.
However, we are at a point where we need discomfort because comfortable is not working.
We are all familiar with the marketing mix: Product, Place (i.e. Distribution), Price and Promotion. It is drilled into our heads in college and it is reinforced with corporate structure. The problem with the marketing mix is that it does not consider the customer, it only considers the product. Perhaps with the advancement of technology, we should have better predicted that a 58-year old concept might require rethinking.
Thought leaders like Bob Lauterborn, Philip Kotler and Koichi Shimizu have argued for years (since the mid-90s) for a customer-centric model known as the Four C’s: Customer, Convenience, Cost and Communications.
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The Harte of Marketing by Beth Harte is licensed under a Creative Commons Attribution-NonCommercial-NoDerivs 3.0 Unported License.
Based on a work at www.theharteofmarketing.com. [If you have a question about what you can use from this blog, click on the above Creative Commons link to learn more.]
