I have kind of written about the importance of brand, customer focused propositions and marketing before. These are big subjects but all really with one aim in mind: To generate repeat customers. The prime reason any half decent business desires customers to visit time and time again is to bring down customer acquisition costs and thus is able to reinvest profits else where.
I decided to break these items down into numerous posts which will form a mini series of thoughts of musing on each subject. The series shall cover:
- Alternatives to paid search marketing
- Customer relationship management
- Brand building
- Marketing above and below the line
A few years ago I didm’t care for brand what so ever. To me it was not where money should be spent. It didn’t matter. At the time I was part of a management team which was growing an on-line business very, very quickly (30 to +400 employees to less than 4 years). We reaped the rewards of efficient paid search advertising via (primarily) Google ad-words. Yet I remember vividly during 2012 my entire ideology changed.
Once I believed only immediate return on investment (ROI) mattered e.g.: spend £1 today get £1.10 back in 90 days. I had no long term outlook, not even mid term. All of that changed. I moved to a long term view. I moved to invest in life time customer value, not to look at immediate ROI but customer interaction, satisfaction and attraction. Aesthetics do matter. Typeface does mater. Format does matter. Being the cheapest all of the time does not provide longevity in any way, shape or form. Customer service, wherever that permeates, really really matters. Basic stuff! why on earth didn’t I take much notice? Service service service. This is very , very important when looking at brand, marketing and retention as I have learned.
All I now want to see is life time customer value going up. This demonstrates the real longevity and potential of any business.
So, I’ll start with alternatives to paid search marketing….