Advertising testing is the process by which companies track the effectiveness of advertisements. Advertising testing is also called post-testing or ad effectiveness tracking. Ad Tracking includes taking periodic measurements of the impact of an advertising campaign. Why Should I Test My Advertisements? Research that provides insight into advertisement effectiveness is a sure way to to..
Enjoy a few words on customer listening from Richard Branson! For entrepreneur extraordinaire Richard Branson, customer satisfaction is best derived from the minds of customers. “Listen, Listen, Listen” says Branson. Innovative ideas and methods to better meet your customers expectations are no more than a few questions away. Customer satisfaction occurs when a buyer perceives..
What do physics and marketing have in common? Dan Cobley of Google is passionate about both. He brings these concepts together using Newton’s second law, Heisenberg’s uncertainty principle, the scientific method and the second law of thermodynamics to explain the fundamental theories of branding and the importance of measuring marketing success.
Online businesses must establish a trustworthy brand to engender a comfort among customers, which paves the way to repeat business. OC Marketing Analytics founder, Ray Benedicktus has published three articles in A-level marketing research journals, two of which explore consumers’ online trust beliefs. These articles examine the effects of brand, physical store presence, customer ratings,..
Market segmentation models can be designed to meet a wide variety of goals. If executed properly, market segmentation leads directly to important cost saving and revenue opportunities. Following are the most common benefits of market segmentation. 1. Achieve differentiation. How can you make your brand or product stand out in an increasingly noisy marketplace? By..
Determining how to position your brand, product, or service is the most important marketing activity a brand or product owner will undertake, because all other marketing efforts (such as new product development, social media messaging, advertising, among others) will flow out of the positioning. This article outlines how Sift, Cipher and Bloom and OC Marketing Analytics work together to answer two critical positioning questions.
After three years of development, consumer research and brand name testing, Honey Bunches of Oats cereal hit the market. This week the OC Marketing Analytics blog tells the story of how Vernon J. Herzing and his daughter Kimberly conceived the great tasting cereal, how Post Cereals settled on the perfect mixture of flakes and sweetness, and why we know one of the top selling cereals in America today as “Honey Bunches of Oates.”
The nation’s youth may have unique tastes in clothes, TV shows and video games, but they all share the connection of having mobile devices that never leave their sides. Texting, apps and Facebook Chat are frequent activities for Millennials and our panel provider network has tapped into this phenomenon. With nearly 20,000 mobile respondents under the age of 18 that can be contacted via their cellphones and tablets, a new and important respondent community is at your fingertips.
Every sane company executive would raise their hand and say they believe having loyal customers is a key to business success. But what are executives really doing about it? Most will point to their customer care training or CRM system and say, “That’s how we take care of loyalty here.” Some will also point to their monthly newsletter or discount program to demonstrate their efforts. All of these are good attempts. However, when competitors can easily mirror such activities, one-way communications is simply not enough.
Three principles should guide you in your efforts to create greater loyalty and engagement within your organization.
As social media becomes a more expansive space and tool, companies are starting to track consumers’ comments about their brands. However, the tools used to track dialogue and measure online brand strength are equally powerful in assessing strengths and weaknesses of competitors. Social media monitoring tools such as Alterian SM2, Radian 6, and Trackur enable..
On Monday, we shared a typical retail service encounter and how a seemingly harmless $5 service charge can actually detract from value perceptions. We suggested instead a customer-centric policy, one which (as outlined below) would cost the company only 33 cents per redemption, build loyalty, and reinforce perceptions of service quality excellence. Today, we follow up with the rest of the story. What did Performance Bicycle lose in terms of Customer Lifetime Value and what would the ROM be if they invested the 33 cents in only a few customer relationships.
I have recently witnessed several performance improvement opportunities, one of which is described in this week’s blog. A service policy failure resulted in directly observable negative financial impact for a chain of specialty retail stores. The service design and pricing gaff not only resulted in an experience that was not satisfactory for the consumer, but also a readily quantifiable loss of revenues and profits and poor brand management for the company. The issue is discussed first in terms of Value Perceptions and on 7/5 in terms of Customer Lifetime Value.
Just 3% of 835 business owners surveyed earlier this month by The Wall Street Journal and Vistage International said Twitter had the most potential to help their companies. Professional-networking service LinkedIn topped the survey, with 41% of respondents singling it out as potentially beneficial to their company. Sixteen percent picked YouTube, and 14% chose social network Facebook. The findings illustrate the challenges facing Twitter in demonstrating to small-business owners the benefits of using the short-messaging service to reach customers. Twitter says it is just beginning to court small businesses, which make up the bulk of U.S. companies, and are an important revenue source for many tech giants, including Google.
OC Marketing Analytics is a proud sponsor of the 2012 Integrated Marketing Forum taking place on 11.1.12 at the Chuck Jones Center for Creativity in Costa Mesa. All registered guests will be entered to win a $28,500 integrated marketing package and @AnalyticsOC will be one of the presenters. Register for the 2012 Integrated Marketing Forum and gain insights around the major challenges facing marketers today, solutions to integrate your marketing efforts, and successful marketing strategies driving the greatest ROI.
Marketing executives at companies across Southern California are working to do more with smaller staffs. Meanwhile, the breadth of marketing skills necessary is testing the capabilities of traditional advertising agencies. A group of marketing veterans announces the creation of a new type of agency in Southern California born to solve both problems, delivering a wide range of business expertise in a method that lets these companies choose exactly the skills they need for any project.