My Top 10 Musings on Marketing

• The most popular way to lose a customer is to lose touch with him or her. Industry-specific data indicates that 60% of customer loss is due to lack of communication.
• Whether or not you're marketing to your customers, you can be assured that your competitors are.
• The average person is only capable of retaining 3-5 brands per category in their memory. If you want to introduce your company into someone's consideration, you need to push another company out of consideration. Repetition is fundamental to success.
• The abandon rate for social media is VERY high. Beware of creating marketing graveyards. Ask me about my 3 for 3 approach.
• Taking a committee approach to marketing often ends in failure. A group of people agreeing to disagree combined with diluted accountability rarely if every produces a positive result.
• The cost of implementing an effective marketing program is trivial compared to the cost of not implementing one.
• Don't discount “little things” like birthday cards and notes of appreciation. Most sales relationships are more influenced by emotions than pricing.
• People will give business to companies they want to give it to and then after awarding the job, find ways to justify the decision. Price is often an excuse rather than a reason.
• Well perceived brands command a price premium of nearly 9% over brands perceived as just average.
• Irrelevant communications contribute to customer defection and alienation. Avoid giving your brand a black eye.

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