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Showing posts with label Innovative Marketing. Show all posts
Showing posts with label Innovative Marketing. Show all posts

Collaborative Marketing

by Oseme Group | 0 comments

By M. Isi Eromosele

In a society where individualism and competition are considered to be the hallmarks of a free market economy, it is not surprising that organizations are slow to recognize, and in many cases reluctant to implement, collaborative marketing strategies.

Collaboration within this context refers to any marketing activity whose effect is to create synergies, leverage resources, or to address multiple problems with a single effort. This is not to suggest that cooperative strategies do not exist, quite the contrary, but their active development is at best sporadic and frequently unbalanced.

Business marketing has undergone and continues to undergo an evolutionary change over the last twenty five years. Advancements in technology, intensified competition, scarcity of resources and customer lifestyle adjustments have all contributed to our contemporary business culture of doing more with less.



Most global organizations, in an initial effort to address these mounting pressures, turn their attention inward, focusing on achieving greater efficiency by reorganizing their internal operations. Cross-functional coordination, flat organizations, inventory control, the elimination of needless redundancy are all explored.

Two new elements are coming into the forefront of global marketing, expanding beyond traditional organizational borders: strategic partnering and relationship marketing.

Strategic partnering builds on the fundamental principle that it is everyone’s responsibility within a given supply chain to actively contribute value to the end consumer. If something is not adding value, it should either be eliminated or have its cost reduced until it is adding value.

Relationship marketing builds on the principle that it is easier to keep a customer than acquire a new one. This area of marketing is still in its formative stages with companies just beginning to explore how to form and sustain strategic partnerships with their customers.

While there is yet much to explore within the scope of building and managing collaborative marketing organizations, current practices continue to reflect a global view based primarily on an adversarial or competitive business model. These efforts reflect an excessive focus on business self-interest on the part of most companies.

Although organizations have begun to recognize the necessity for cooperation in an interconnected global environment, these same organizations have been reluctant to consider how their customers might independently benefit from collaborative strategies.

Consider these fundamentals. Every exchange involves at least two parties. Everyone engaged in an exchange does so with the belief that they are deriving value from the transaction.

In this case, value simply being that the benefits outweighs the costs. As in this context, collaboration has largely been addressed from the seller’s perspective. How about the needs of the customer? Surely consumers bring similar concerns and interests to the process of exchange.

Internal And External Collaboration

Collaborative marketing has implications for both the buyer and the seller. Just like an organization, every customer has a set of internal operations they must execute before, during and after each transaction. In the case of the consumer, internal operations are
understood to be the cognitive, emotional and behavioral processes that he/she engages in when acquiring or disposing of a good or service.

The classic marketing assumption is that problem recognition occurs whenever a consumer sees a meaningful difference between their pain and their need or desire. From a competitive frame of mind, every product, every problem is therefore competing for the consumer’s most immediate attention.

The excessive emphasis on competition contributes to the maelstrom of daily marketing messages that now bombard the typical consumer. The collaborative problem-solving strategy is very straightforward. Companies need to develop and/or illustrate how their products and services are related to a variety of others in solving collective customer current and future needs.

In effect, you are helping the customer to accomplish multiple tasks with little additional effort.

Marketing of these multiple product/service benefits can take one of two forms. First, by communicating these additional benefits directly to the consumer, you are enhancing or leveraging the collective benefits that they can derive out of a given transaction. This is very similar to the benefits derived out of simultaneously solving multiple problems.

The second major use of this technique is to communicate directly with the role set members. Since the role set may also have some of their needs satisfied through the consumption process of another person, they in effect have a vested interest in favorably influencing the other consumer’s behavior. At a minimum, but by no means trivial, the role set is less likely to actively engage in behavior that directly competes for the consumer’s attention.

Although some progress has been made in the business arena, first with respect to systems integration and next in the arena of strategic partnerships, very little if any progress has been made in trying to help consumers benefit from the same level of integration.

Showing a consumer how they can solve multiple problems or simultaneously meet the needs of different people can be a tremendous benefit for consumer as well as the company.

M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance
Copyright Control © 2012 Oseme Group
Innovative Marketing

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Relationship Marketing: Engendering Customer Loyalty

by Oseme Group | 0 comments

By M. Isi Eromosele

Relationship marketing is based on creating a mutually beneficial exchange between business partners. This often requires personal communication with the customer.

The objective of many marketing strategies in the last decade has been building the customer’s commitment to a brand. This has taken three forms:

  1. Creating customer satisfaction - delivering superior quality products and services
  2. Building brand equity - the sum of the intangible assets of a brand.  
  3. Creating and maintaining relationships
 Success with any of the above strategies results in high levels of repeat purchase, insulation from price increases and improved responsiveness to marketing communications by customers.

There has been an evolution of marketing thought and strategies over this last decade. Initially, customer satisfaction was the ultimate goal of marketing programs. However, as satisfied customers were shown to defect to other brands or providers at relatively high rates, marketers have looked to creating a greater commitment with the customer.

Two ways to achieve this are to build brand equity and to build relationships with customers. Brand equity uses mass media marketing, corporate citizenship and public events sponsorship to build a brand image.

Relationship marketing seeks to build interdependence between sellers and buyers and relies on one-to-one communications, delivered through the Internet and social media platforms.




The growth in relationship marketing took inspiration from mass customization technologies and applied them to marketing communications. This was based on the marketer’s ability to communicate a unique message to individual customers based on the company’s knowledge of their interests.

Engendering Customer Commitment And Loyalty

Relationship marketing encourages customer loyalty from consumers. Marketers need to retain their customers on a long-term basis. Even small improvements in customer retention can as much as double company profits. This is because:

1. It costs less to serve long-term customers.
2.  Loyal customers will pay a price premium.
3. Loyal customers will generate word-of-mouth referrals to other prospective customers.

Higher levels of loyalty have been correlated with positive marketing outcomes but  different definitions of loyalty can have selected effects on either market share or price premiums.

Knowing the buying motivations of customers has been an important part of understanding customer loyalty and brand switching behavior. Brand loyalty has three components: commitment, preference and repeat purchase.

There are four levels of loyalty based on these components:

  1. Cognitive – one brand is preferable based on superior brand attributes.
  2. Affective – liking towards brand has developed over the course of multiple purchase situations that were satisfying.
  3. Conative – Affective stage with the express intention to re-buy.
  4. Action – Conative stage plus the active desire to overcome situational influences and marketing efforts that may have the potential to cause switching behavior.
On reaching the action phase, the customer possesses a deep commitment to repurchase but also is active in blocking the influence of alternative brands.

M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance
Copyright Control © 2012 Oseme Group
Innovative Marketing

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Influencer Marketing

by Oseme Group | 0 comments

By M. Isi Eromosele

Influencer Marketing is one of the most important new approach to marketing in a decade for those focused on influencing customer decision making.
Marketing is orientated around sales. If it doesn't initiate, assist or close a sale, then it is failing. And failing it is. The largest single item on most firms' marketing spend is advertising, accounting for between a quarter and three-quarters of budgets. In some industries, marketing accounts for a third of revenues. Yet the link between marketing and consequential revenues is hardly apparent.
Most of today’s marketing is based on notions that are 20 years out of date. There are many marketing notions that are anachronistic or at the least obsolete. These include the notion that if you put enough messages out there some of them will be heard. The notion that 'building the brand' is money well spent. The notion that people believe what they see and read.

Many recent marketing initiatives that supposedly take advantage of Web 2.0 technologies are merely reactions that apply old techniques to new media. Marketing needs to rethink the messages it is communicating, to whom it's communicated and the methods being used.

Many companies are disappointed at the lack of tangible return on their investment in multi-million dollar marketing activities. Advertising remains the largest budget item on most firms' marketing plans. Advertising may be a fixture in a company's annual budget, but management boards are increasingly questioning why this is.
Four of the world's largest brands have never conducted much advertising, and the same is true for seven out of the 10 fastest growing brands. There is no proven causal relationship between advertising and financial performance, period.
There is no strong evidence to suggest that advertising has any effect on sales. The academic research on marketing and return on investment (ROI) is paltry in number and unconvincing in conclusion. There is an awful lot of assertion from the advertising profession itself, and numerous claims to the link between brand and revenues or stock price.
It is true that firms with big revenues and profits usually have well-known brands. Yet brand awareness could equally be an outcome of high sales, rather than a driver of it.
Google has never advertised, yet it has become the world's most powerful brand.
In most companies, a disconnect exists between sales and marketing. This manifests itself at an operational level in departmental warfare with disastrous results.
At almost every company, there lies a wide schism between marketing and sales. Neither side strives for collaboration or alignment of objectives that will ultimately benefit the company. The result is paralysis of purpose that hampers the company’s ability to increase brand awareness among its target audience.
Recent trends in marketing, which includes the move online, campaign management systems, the creation of brand personalities – have done nothing to bring the two sides closer.

The following are trends that have occurred that marketers should use to influence their marketing strategies towards their customers:

  • Timing – the Web and other technologies have made customers more impatient than ever. 

  • Personalization – customers are expecting personalized offerings and will no longer tolerate a "one size fits all" approach. 

  • Value definition – customers who demand the total experience have redefined the value proposition. They leave little or no room for error and they want to be satisfied at every touch point. 

  • Employee actions – customers are tired of brand promises; they want to see them carried through in employee's actions. 

  • Authenticity – the customer experience must be authentic.

All these trends should influence marketers to rethink the way they engage and interact with their customers. More than ever before, today's marketers need to make sure that their marketing offer is fully backed by a well aligned marketing organization that is ready to deliver on the brand promises they’ve made.
M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance
Copyright Control © 2012 Oseme Group
Innovative Marketing

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Effective Inbound Customer Marketing

by Oseme Group | 0 comments

By M. Isi Eromosele

Inbound Customer Marketing (ICM) is emerging as a new channel for marketers to target customers when they initiate contact themselves.

Consumers today are deluged by advertising messages promoting an ever increasing choice of products and services via a growing number of marketing channels. As the advertising clutter grows and the battle for consumer attention escalates, marketers face declining effectiveness of marketing communication as well as increasing customer dissatisfaction with the relevance of marketing messages.

For example, recall rates of TV advertising, in fact, have fallen to less than 10 percent from a high of 40 percent in the 1960s. In the U.S., 59 percent of respondents in a recent survey felt that ads have very little relevance to their daily lives.

In this environment, Inbound Customer Marketing (ICM) presents a sales and marketing opportunity for companies to target customers when they initiate contact themselves at various touch points.

Inbound Customer Marketing is the practice of offering a targeted product, service or communication when the customer initiates an event, such as contacting the call center or retail store, visiting the website, or roaming abroad.

These customer-initiated interactions present a marketing avenue for companies to make cross/up-sell or loyalty offers and drive an increase in revenues or reduce customer churn.

In implementing Inbound Customer Marketing, advanced mechanisms can be used to capture customer information on parameters such as needs, lifestyle and preferences and conduct in-depth analysis to generate insights.

Such sophisticated ICM deployments also use predictive modeling to anticipate customers’ propensity to purchase or churn, and use real-time learning algorithms to take into account the most recent interactions to present personalized offers, thus ensuring a higher chance of success.

In some cases, separate applications are implemented across various channels that lack common decision logic, whereas in the more advanced implementations, ICM is integrated across channels to ensure a consistent marketing approach.

Inbound customer channels are increasingly emerging as a viable sales channel to cross/up-sell or make retention offers. For example, telecommunication service providers are well positioned to exploit this trend since the frequency of customer contact is relatively high across various channels for activities ranging from payment to new product/service information requests.

Additionally, the range and complexity of offers to customers in the industry tends to be high, so that ICM tools that can assist in determining the “best” offer for an individual customer will help to increase marketing effectiveness and success.

An integrated, multi-channel ICM implementation approach ensures real-time customer information capture and visibility, employing customer-centric segmentation,predictive analytics and real-time decision-making tools to effectively and efficiently make customized offers to customers.

A synchronization of inbound and outbound campaigns could enable a company to run coordinated multi-stage campaigns to be conducted across outbound and inbound channels where more than one contact is needed with a customer to achieve the desired result.

An ICM solution that attempts to match offers to customers requires an extra level of data integration. The challenge is to identify the data needed to support the desired inbound marketing campaigns, and to make the data available with appropriate levels of freshness, quality and consistency.

Companies can also consider dynamic customer segmentation, which takes into account real-time information and behavior of the caller, to present targeted offers. 

This can help address issues related to outdated data and insights with a system that can enable dynamic re-classification of the customers and revision of offers based on current behavior and preferences.

M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance
Copyright Control © 2012 Oseme Group
Innovative Marketing

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Effective Interactive Marketing

by Oseme Group | 0 comments

By M. Isi Eromosele

Interactive Marketing refers to the evolving trend in marketing whereby marketing has moved from a transaction-based effort to a conversation.

The definition of interactive marketing is the ability to address the customer, remember what the customer says and address the customer again in a way that illustrates that you remember what the customer had told you.

Interactive marketing is not synonymous with online marketing, although interactive marketing processes are facilitated by internet technology. The ability to remember what the customer has said is made easier when you can collect customer information online and communicate with your customer more easily using the speed of the internet.

Amazon.com is an excellent example of the use of interactive marketing, as customers record their preferences and are shown book selections that match not only their preferences but recent purchases.

Interactive marketing is a unique kind of marketing, a means of communication that engages the audience with the brand. It's an original and unique advertising approach that immerses the customer with the brand, and it even lets the customer reshape and market it in his own unique way.

Multimedia

Multimedia provides different means of communication and multiple touch points for your audience. Clearly, it is not a single execution, but rather a strategy that reinforces and enhances the brand experience by using a wealth of media opportunities to make the brand message pervasive and easy to recall.

Take Trident gum for example, it uses two media effectively: the paper wrapper communicates the brand while the gum inside delivers on the brand experience.

But an even better example of the effective use of multiple mediums would be the global product launch campaign of the adidas_1 running shoe. It used seven separate communication vehicles simultaneously -- outdoor, website, downloadable video player, traditional interactive ad units, rich-media video ad units, IM environments and email to create a record-setting sale of the entire inventory in stock.

Opt-In

Opt-in communication vehicles provide an incentive for audience participation while respecting the privacy of the user. A successful opt-in execution entices the user to engage and encourages the user to share.

So you might ask, what does opt-in have to do with bubble gum? Not much, but you do have to decide if you're going to heed the siren song of sugar and unwrap that pack.

Opt-in is all about our volition in action. Take the "Veronica Mars" campaign for the UPN network. The interactive ads were coupled with commercial-break appeals to dial an SMS code on your cell to hear the latest gossip from Veronica herself. Once the teen audience opted-in they heard five separate messages from Veronica.

M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance

Copyright Control © 2011 Oseme Group

Innovative Marketing

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Customer Engagement As A Set Of Marketing Practices

by Oseme Group | 0 comments

By M. Isi Eromosele

Customer Engagement marketing practices aim to:

  • Persuade target customers that the company or offering is worth their time, effort, money and commitment
  • Create, stimulate or influence customer engagement behavior

Customer Engagement marketing practices provide new guidelines and opportunities for the development of B2B, B2C, B2E and C2B communications and relationships.

Customer Engagement marketing practices often aim at participating in and furthering the growth of the social media phenomenon.

The interactive experiences that digital media provide has enabled the extension of Customer Engagement as a social phenomenon, as well as transform businesses’ ability to engage with its customers.

The main difference between traditional and Customer Engagement marketing is marked by these shifts:

  • From ‘reach or awareness focused’ marketing communications and their metrics (GRP or page view) towards more targeted and customized interactions that prompt the consumer to engage with and act on the content from the outset
  • From absolute distinctions and barriers between an organization and its target customers towards the participation of consumers in product development, customer service and other aspects of the brand experience
  • From one-way, top-down, formal B2C and B2E interaction to continuing dialogue, decentralized and personalized communications initiated by either party

Customer Engagement marketing practices involve:

  • Encouraging collaborative filtering: Google, Amazon, iTunes, Yahoo, Netflix, and Rhapsody encourage their consumers to filter, categorize and rate; that is, to market their products.

They realize consumers are not only much more adept at creating highly-targeted taxonomies given that they are more adept at delineating the segment they themselves constitute, but, also, that they are willing to do so for free. And to the extent they cannot, they do it for them.

  • Community development: Helping target customers develop their own communities or create new ones.
  • Community participation: Consumers do not filter and rate companies and their offerings within company websites only. Being able, with little effort, cost or technical skills, to create their own online localities, a large percentage of the filtering and rating takes place in non-sponsored, online spaces.

Organizations must go and meet their target customers at their favored online haunt to not only listen but also participate in the dialogue.

  • Help consumers engage with one another: Give them content (viral podcasting, video casting, games, v-cards etc.) they can use to engage with one another.
  • Solicitation of user generated content: Engage them directly or indirectly with your product by giving them the means or incentive to create user generated content.
  • Customer self-service: Help them create a customer service FAQ in wiki or blog format. Create a blog where technical support staff and customers can communicate directly
  • Product co-development: Create a blog where product developers and consumers can communicate directly.

Every single communicative action must be more targeted and engaging – from personalized online content to the buttons on websites. Instead of sticking a ‘donate’ button on each page, present charity customers with case studies that show the impact past contributions have made.

M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance

Copyright Control © 2011 Oseme Group

Innovative Marketing

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Customer Engagement As Consumer Behavior

by Oseme Group | 0 comments

By M. Isi Eromosele

Customer Engagement behavior became prominent with the advent of the social media phenomenon. Creating and stimulating customer engagement behavior has recently become an explicit aim of organizations in the belief that engaging target customers to a high degree is conducive to furthering business objectives.

“Repeated interactions strengthen the emotional, psychological or physical investment a customer has in a brand.”

A customer’s degree of engagement with a company lies in a range that represents the strength of his investment in that company. Positive experiences with the company strengthen that investment and move the customer up the line of engagement.

What is important in measuring degrees of involvement is the ability of defining and quantifying the stages on the range.

Degrees of Engagement

Low

Medium

High

Highest

 

Adoption

Collaborative Filtering

Content Creation

Social

 

Bookmarking, Tagging, Adding to group

Rating, Voting, Commenting, Endorsing, Making Favorites

Upload (User Generated Content), Blogging, Fan community participation, Create mash-ups, Podcasting

Adding Friends, Networking, Create Fan Community

Engagement is a holistic characterization of a consumer’s behavior, encompassing a host of sub-aspects of behavior such as loyalty, satisfaction, involvement, Word of Mouth marketing, complaining and more.

  • Satisfaction: Satisfaction is simply the foundation, and the minimum requirement, for a continuing relationship with customers. Engagement extends beyond mere satisfaction.
  • Loyalty - Retention: Highly engaged consumers are more loyal. Increasing the engagement of target customers increases the rate of customer retention.
  • Word of Mouth marketing - advocacy: Highly engaged customers are more likely to engage in free (for the company), credible (for their audience) Word of Mouth marketing. This can drive new customer acquisition and can have viral effects.
  • Awareness - Effectiveness of communications: When customers are exposed to communication from a company that they are highly engaged with, they tend to actively elaborate on its central idea. This brings about high degrees of central processing and recall.
  • Filtering: Consumers filter, categorize and rate the market from start to finish, creating multiple, overlapping classifications through tagging, reviewing, rating and recommending.
  • Complaint-behavior: Highly engaged customers are less likely to complain to other current or potential customers, but will address the company directly instead.
  • Marketing intelligence: Highly engaged customers can give valuable recommendations for improving quality of offering.

The behavioral outcomes of an engaged consumer is what links Customer Engagement to profits. From this point of view:

“Customer Engagement is the best measure of current and future performance; an engaged relationship is probably the only guarantee for a return on your organization’s business objectives.”

Simply attaining a high level of customer satisfaction does not seem to guarantee the customer’s business. 60 percent to 80 percent of customers who defect to a competitor said they were satisfied or very satisfied just prior to their defection.

M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance

Copyright Control © 2011 Oseme Group

Innovative Marketing

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The Need For Customer Engagement

by Oseme Group | 0 comments

By M. Isi Eromosele

Customer Engagement marketing is necessitated by a combination of social, technological and market developments:

Businesses are losing the power to dictate the communications agenda: The effectiveness of the traditional ‘interrupt and repeat’ model of advertising is decreasing.

This is due to:

  • Customer audiences are smaller and specialized: The fragmentation of media and audiences and the accompanying reduction of audience size have reduced the effectiveness of the traditional top-down, mass, ‘interrupt and repeat’ advertising model. The adoption of new media shows people in the 18-26 age group spending more time online than watching TV.
  • Customer audiences are also broadcasters: A company’s position is no longer just inside consumers’ minds. As they increasingly speak their minds with the power for circulation and permanence of Social Media, businesses have lost the power of shouting over everyone else.
  • Instead of trying to position a product using a couple of static messages that will themselves become the subject of conversation amongst a target market that has already discussed, positioned and rated the product, companies must join in.
  • This also means that consumers can now choose not only when and how but, also, if they will engage with marketing communications; they can rely on Social Media. In addition new media themselves provide consumers with more control over their advertising consumption.

Decreasing brand loyalty: The lowering of entry barriers (such as the need for a sales force, access to channels and physical assets) and the geographical widening of the market due to the Internet have brought about increasing competition.

In combination with lower switching costs, easier access to information about products and suppliers and increased choice, customer loyalty is hard to achieve.

The increasing ineffectiveness of TV advertising due to the shift of consumer attention to the Internet, the ability, within new media, to control advertising consumption and the decrease in audience size is bringing about a progressive shift of media and advertising spending online.

The proliferation of new media provide consumers with more control over their advertising consumption (subscription-based digital radio and TV for example) and the simultaneous decrease of faith in advertising and increase of faith in social media meet the need for communications that the customer will desire to engage with.

Stimulating a consumer’s engagement with a brand is the only way to increase brand loyalty and, therefore, “the best measure of current and future performance”.

Customer Engagement is the solution that marketers need to implement in order to come to terms with the social, technological and market developments outlined above. In a nutshell, it is the attempt to create an engaging dialogue with target consumers and stimulate their engagement with the brand.

Although this must take place consistently both on and off-line, the Internet is the primary vehicle for doing so.

CE marketing begins with understanding the internal dynamics of these developments and, especially, the behavior and engagement of consumers online. That way, business opportunities can be identified.

M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance

Copyright Control © 2011 Oseme Group

Innovative Marketing

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Markets + Customer Segmentation

by Oseme Group | 1 comments

By M. Isi Eromosele

Customer segmentation is the ability to identify high value customer groups within a marketplace. This segmentation is based on the principle that not all customers are equivalent.

Some customers are highly profitable; others are borderline profitable and a final group are basically unprofitable for your company.

With the use of segmentation, your company can speak to the needs and interests of divergent groups of customers. Determination can be made as to whether there is a products/services fit in a high opportunity segment. Product enhancements or new products with customized qualities may be aimed to targeted groups.

Certainly, segmentation does not mean that one customer group is favored over another. It does enable your company to craft micro marketing strategies that succeed with multiple customer segments.

Market segments provide foundations for sustained lasting growth and profits at your company.

There is one overarching objective in implementing customer segmentation. This is the identification of groups of like-minded customers that can then be differentiated from other customer segments.

In a well designed segmentation program, customers in each segment should have similar interests, purchase attitudes and behaviors. Their response to components of a marketing mix and sales channel promotions should be comparable.

Ordinarily, consumer markets consist of general customers and prospects with different wants, needs, perceptions as well as purchasing interests. After applying segmentation, a company can customize specific marketing tactics for each customer segment.

Customer behavior can be derived from many changeable human factors including buying habits, demographics, income level, tastes and media preference. Collection of customer data is imperative to the success of market segmentation.

A well executed customer segmentation program will provide a sound structure for your company’s umbrella marketing strategy. This will give you the framework to better understand your markets to a granular level.

The result will be a well coordinated plan which will aim to enhance your company’s performance in all your targeted market segments. The critical success factors for market improvements include market share, customer acquisition, customer retention, level of profitability and customer satisfaction.

The four major benefits in implementing customer segmentation are:

  • Analytical information that helps to discover opportunities within each customer segment
  • Increased customer retention levels within each customer segment
  • Enabling customized marketing plans for each customer segment
  • Enhanced products/services fit within each customer segment

In a continually competitive business environment, companies need to accelerate their capabilities for acquiring and retaining of customers, especially the high-value ones.

Customer segmentation is crucial to the implementation of a successful marketing strategy that will result in long-term growth and increased profits for your company.

M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance

Copyright Control © 2011 Oseme Group

Innovative Marketing

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Multi-Channel + Integrated Marketing

by Oseme Group | 0 comments

By M. Isi Eromosele

The modern customer consumes a wide variety of different media, and is the recipient of communications and services across numerous distributive channels. Brands are therefore required to do an effective job at marketing products and services across multiple channels. This presents opportunities – and, of course, this also presents challenges.

One particular challenge is that of implementing integrated marketing. There’s a buzz around it. Even those who are confident their business is executing integrated marketing may in fact be doing nothing of the sort. There are only a small number of marketers that really understand it.

So, what is multi-channel marketing, what is integrated marketing and how can they be married into a successful marketing program.

Working in unison

Multi-channel marketing encompasses the efforts of businesses to get communications and services into the marketplace across a number of distributive channels. For multi-channel to be truly effective, the multiple channels must operate as an integrated whole.

Effective multi-channel campaign marketing should be a cohesive process that emphasizes the delivery of consistent messages to each individual, accommodating their feedback and actions to maintain a dynamic single view of the customer’s profile.

Rather than operating separately, a company’s marketing campaign simply uses the right blend of media to reach the customer and achieve its objectives, rather than each division team having their own campaigns and their own objectives.

As such, for multi-channel marketing to be fully effective, it requires an element of integration. This integration should extend to the strategic thinking behind the campaign, urging a shift away from the traditional view of what constitutes campaign success in multi-channel marketing.

Integration

For multi-channel marketing to be most effective – and be most measurable - there needs to be aspects that are integrated. But neither of these approaches is, by definition, integrated marketing – as has sometimes been mistakenly suggested.

At a high level, integration is about media. It is about coordinating the timing of those messages, their proposition and their offers, such that they are all mutually reinforcing. Had all the individual media been utilized separately, it would not have achieved the same momentum and response.

However, in the main sense, integration is about bringing the channels together with the media in a plan that is then optimized to give you the best overall marketing results.

Integration is often thought of as just integration of media - and certainly if you are coming at it from a digital marketing perspective you might be more inclined to think of integration as a media-based planning activity.

However, the complete picture of integrated marketing is when that planning includes all of the activities through your various channels as well.

Encouraging signs

Defining integrated communications and practicing it remain two of the most important functions in the marketing industry.

The Internet has certainly brought to the fore that there is a constant need for integrated marketing that involves multiple channels. Whether you are just sending out a brochure, customers expect there to be a website that invariably leads to you, a blog that promotes your company and an email to support and promote that website.

Voila, you have become a multimedia, multi-channel business. The advent of social media has resulted in many more companies practicing multi-channel marketing.

M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance

Copyright Control © 2011 Oseme Group

Innovative Marketing

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Value Marketing Strategy

by Oseme Group | 0 comments

By M. Isi Eromosele

The marketer’s watchword today is value. Customers are now demanding the right mixture of product/service quality, great service and timely delivery. These are the keys to performing well in any industry.

Value marketing strategy stresses real product performance and delivering on promises. Value is not about positioning and image peddling. It simply means providing a product or service that works as claimed, is accompanied by great service and is timely delivered.

The growing focus on value is the result of deep changes in the consumer marketplace. A new generation of consumers is more savvy and skeptical than their predecessors.

Today’s consumers want products that perform, sold by advertising that informs. They are concerned about intrinsic value, not simply buying to impress others.

Strategically, quality must emanate from the product offering itself and all the services that accompany it. Quality perspectives should be based on customer preferences, not on internal corporate evaluation.

The evolution of social media is having a profound effect on when and how quality of products and services provided by companies are determined. The consumer is now firmly in control of this process and will continue to remain so in the long-term.

Companies should strive to provide quality that wholesomely satisfies customers and provide levels of service that meets and possibly exceed their expectations. Quality means that companies should strive for excellence throughout their organizations.

Attaining sufficient levels of excellence and customer satisfaction often requires significant cultural change within organizations; change in decision-making processes, inter-functional relationships and the attitude of every staff member within the company.

Staff should be encouraged and rewarded for set objectives. Staff should be empowered to make decisions and instilled with the feeling that quality is everyone’s responsibility. Achieving total quality objectives requires teamwork and cooperation.

Organizationally, the single most important aspect of implementing a quality strategy is for the company to maintain a close liaison with its customers. There are three general approaches to improving quality performance: catching up | pulling ahead | leapfrogging.

Catching up requires restoring those areas where the company has fallen below given standard. Catching up is a defensive strategy that emphasizes being as good as the competition. Pulling ahead involves going beyond customer expectations or achieving superiority over the competition. Leapfrogging involves coming from behind and succeeding in getting ahead of the competition through providing quality products that meet customer demands.

Several benefits can accrue to businesses that offer superior perceived quality, including stronger customer loyalty, consistent repeat business, less vulnerability to price wars, ability to command higher relative price without any effect on market share, lower marketing costs and increased market share.

M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance

Copyright Control © 2011 Oseme Group

Innovative Marketing

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Customer Centered Marketing

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By M. Isi Eromosele

The marketing challenge that we face today is far different from what existed as recently as ten years ago. The task has changed from marketing and selling a company’s products or services to promoting and providing customized needs and solutions that customers regard as valuable to them. As such, developing required global, regional or national marketing plans and strategies are more distinctive and more complex.

The imperative is for companies to develop a sharper strategic market focus while ensuring that the execution and delivery of their products and services are consistently excellent.

To ensure continued profitable growth, Customer Centered Marketing needs to be the driving force behind a company’s business development, sales and customer retention efforts.

The four components of Customer Centered Marketing (1) customer focus (2) value-added solutions (3) customer satisfaction (4) niche (deep market understanding) - will be the foundation for competitive advantage and high-margin revenue.

Customer Centered Marketing is a core business process that makes an individual customer or high value potential prospect in a targeted market niche the focus and beneficiary of a company’s specialized capabilities, resources and experience.

The preliminary actions to making the strategic decision to implement customer centered marketing include:

  • Selecting a targeted market or industry niche for special attention
  • Developing a detailed understanding of the market or industry in order to identify needs that the company can meet
  • Creating a positive awareness of the company and earning an insider’s reputation with influential members within the niche
  • Planning, positioning, endorsing and offering value-added solutions to selected high priority needs of customers
  • Building excellent, value-based relationships with specific individuals who can be influenced by the company in order to meet the customers’ needs
  • Efficiently leveraging the time, resources and relationships available to the company

Customer Centered Marketing involves developing a top-quality, sustained relationships with the most desirable customers within a vertical or niche market. Once these special relationships are established, the main task would be to sell, serve and satisfy the needs and expectations of the target customers.

When appropriate, a company can use passive or active marketing to ensure that all marketing activities are fully linked to a series of events and that follow-up actions are taken.

Components of active or passive marketing include:

  • Corporate Marketing Activities: These activities build the image of the company and create a general awareness of what it does. The elements include corporate brochures and presentations, public relations and event sponsorship
  • Capability Marketing Activities: These activities illustrate accomplishments of the company. They include products/services brochures, public speaking events, newsletters, the Internet and the company’s website
  • Contact Marketing Activities: These activities demonstrate the added value that the company can provide and show how it differentiates itself from the competition. These are the activities that are most influential in building the relationship between the company and its prospects. Contact marketing tools include articles, blogs, white papers and advisory services and seminars.

These actions will accumulate and help in building trusting relationships that is imperative before targeted prospects will commit to becoming customers.

M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance

Copyright Control © 2011 Oseme Group

Innovative Marketing

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Relationship Marketing

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By M. Isi Eromosele

One of the most valuable factors to any company is its relationships to its customers, employees and suppliers. A company’s relationship capital is crucial to its ability to continue interacting with these divergent groups.

These relationships can be said to be more valuable than the material assets of the company. Without their being properly managed, the company would cease to exist as a business entity. Relationships determine the future value of a company.

Companies need to be keenly aware of the strengths, weaknesses, opportunities and threats that are inherent in regards to their relationships with customers. It is imperative that a company should move fast to repair any significant but fraying relationships.

It would be a serious mistake for a company to ignore the interdependence among its major stakeholders and the roles each play in the company’s success.

The advent of relationship marketing marks a major shift in marketing. In the new paradigm, the thinking has moved away from thinking solely in terms of competition and confrontation to one that emphasizes mutual dependence and collaboration.

The importance of the various parties - customers, employees and suppliers is recognized by all, leading to a high level of cooperation in building high value relationships. The major characteristics of relationship marketing are as follows:

  • It focuses on customers and partners, rather than on the company’s products and/or services
  • It puts more emphasis on customer retention and growth than on customer acquisition
  • It relies on cross-functional teams rather than on business unit teams
  • It relies more on listening and learning rather than constant talking

Relationship marketing highlights the need for new marketing practices. Companies need to operate with a mixture of transactional and relational marketing approaches.

Companies selling in large consumer markets would need to practice a greater percentage of transactional marketing. Conversely, companies operating within a smaller consumer market would need to practice a higher percentage of relationship marketing.

Other attributes of relationship marketing:

Products

  • More products are customized to customer preferences
  • Product development is achieved through collaboration with suppliers and even competitors

Price

  • Companies set a price based on their relationships with customers
  • There is leeway for more negotiation since products are often personalized for each customer

Distribution

  • In relationship marketing, there is more direct marketing, eliminating the role of middlemen
  • Alternatives are offered to customers , facilitating their ability to choose what they want

Communication

  • Dialogue with customers is carried out through personal communication
  • Integrated marketing is used to deliver the same message to various groups of customers

M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance

Copyright Control © 2011 Oseme Group

Innovative Marketing

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Marketing Growth Strategies

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By M. Isi Eromosele

It is not enough for a company to be profitable. It must also grow. Growth engenders increased and sustained profitability. Not developing growth initiatives is courting disaster.

Many companies excuse their lack of growth by stating that they are in a matured market. Surviving in a matured market requires marketing and operational imagination. As such, a company can always find ways to grow in any given economic and market environment.

Chrysler introduced the minivan into a car market that was considered matured. Yet, the vehicle was a resounding success for the company. Markets are rarely fully penetrated. All markets are made up of segments and niches.

To grow, a company can implement four segment moves:

  • Move into adjacent markets. Nike started by marketing superior running shoes, then moved into sports shoes - basketball | tennis | football | soccer.
  • Perform a finer segmentation. Nike segmented the basketball shoe market into granular segments - shoes for the forceful player | the high jumping player and so on.
  • Hop into new segments. Nike moved into selling clothing closely tied to its shoes for various sports
  • Conduct market re-segmentation. Rebock, a Nike competitor re-segmented the market by producing well made stylish shoes for the leisure market without sports in mind

A company can also redefine the market in which it operates. Here are some examples:

  • Nike has redefined itself as being in the sports market rather than being a shoe and clothing manufacturer.
  • Coca-Cola moved from the soft drink market to becoming a total beverage marketer in a bid to increase its market share
  • Armstrong World Industries moved from floor covering to ceilings to total interior decoration
  • AT&T redefined itself from being known simply as a long distance telephone company when it moved into carrying voice, image, text and data on telephone lines, cable, cell phones and the Internet
  • Taco Bell went from being strictly an in-store fast food restaurant to selling food in kiosks, convenience stores and airports

The following frameworks can help your company in its search for growth opportunities:

  • Persuade your customers to purchase more of your products
  • Cross-sell by recognizing other products that your present customers could use
  • Target new markets or market segments in which to introduce your products
  • Procure new businesses that will enable you to serve new markets

Attaining growth necessitates the development of a growth mentality with the company stakeholders, be they employees or partners. Be conversant of customer needs that are not being satisfied.

Explore hidden assets that can be utilized to satisfy higher order needs in your markets. Use a combination of relationships, market positioning, networks and acquired information to create value for your customers and growth for investors.

M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance

Copyright Control © 2011 Oseme Group

Innovative Marketing

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Value Marketing

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By M. Isi Eromosele

Value marketing strategy emphasizes excellent product performance and the delivery on product benefit promises. Value marketing does not mean high quality at high prices. It does not mean cheap, if cheap means substandard products.

At a straightforward basic level, value marketing means offering a product that works as promised, backed up by reliable customer service and provided on time.

For decades, the notion of quality was only considered at the manufacturing point of product development. Today, the issue of total quality is taken seriously by consumers in the marketplace.

Consumers expect the product itself to radiate quality, accompanied by excellent customer service. In effect, quality perspectives should be based on customer preferences, not on review by internal inspectors. The ultimate goal of a company in providing value marketing to its marketplace is to produce and offer well made products that would please its customers exceedingly.

It should also provide high levels of support services, product performance and customer support that is beyond customer expectations. Fundamentally, it would be necessary for quality to be maintained throughout the company as it strives for excellence.

In order to reach the high level of excellence that would result in high customer satisfaction, a major cultural chance has to take place within organizations. Change in decision making processes, communication processes, business units’ interaction, implementing competency training and employee commitment to the company’s business objectives.

Attaining excellence in product quality and maintaining it necessitates collaboration between functional teams in a company. Employees need to be given the autonomy to make decisions and inspired with the exhortation that states achieving quality is a collective responsibility within the organization.

In order to attain world class total quality and sustain it, the following would have to take place within an organization:

  • Complete and unbending support form the top management of the company
  • Deep understanding of its customers’ needs
  • Resolving any issues within the company’s business processes and customer services methods
  • Narrowing cycle times in providing timely delivery of products and services
  • Empowering employees to encourage them toward their working to their full potential
  • Measurement and rewards systems should be established to recognize and reward staff for excellence at work
  • Excellence in quality should be continuously maintained by the elimination of inefficiencies in the company’s business processes

The most important requirement to maintaining excellence in product quality is to maintain a high level of interactive communication with customers. Their feedback is crucial to the entire process.

A company that strives to establish and maintain excellence in quality throughout the organization will reap more than a few benefits. These include long-term customer loyalty, continuous repeat purchases of its products, insulation against the effects competitor actions, ability to command higher prices (i.e. Apple) and reduced marketing costs.

M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance

Copyright Control © 2011 Oseme Group

Innovative Marketing

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High Performance Marketing

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By M. Isi Eromosele

In implementing a high performance marketing program, it is imperative to focus on capabilities that engender efficiency. There are six dimensions of performance that needs to be used across your enterprise in implementing a strong high performance strategy.

Implementing a well coordinated high performance marketing program will result in vastly improved customer satisfaction scores and higher market shares at the expense of your competitors. There are three areas of capabilities that should be targeted for improvement:

  • Customer Engagement
  • Customer Experience
  • Day-to-day Operations

The six dimensions that would propel high performance marketing are rooted in your company’s marketing capabilities and corporate processes which define the roadmap for improvement. They are:

Achievement Strategies

These require the development of strategic plans that take into account realities in the marketplace, the functional capabilities of your marketing department and the imperative alignment of your corporate objectives. A marketing investment portfolio would need to be created. This will enable your organization to assess your return on investment possibilities regarding your current as well as future marketing campaigns. You will need to:

  • Sift your attention to managing customer portfolios
  • Establish the milestones towards enhanced customer value
  • Guide customer experience across purchase touch points
  • Analyze customer purchase behavior to identify their needs

Organization Configuration

Your organization’s business objectives, corporate strategies and processes must be closely synched with your marketing plans. The competencies of your marketing staff would need to be examined. The structure of the department needs to be reassessed.

The implementing of marketing strategies should cut across divisional boundaries, creating a tightly knit group of multiple sub-groups. Bring forth the importance of always considering the customers’ needs and as follow-up, continuously building customer value.

Marketing Effectiveness

Create information-based measurement metrics that would calculate customer response and ensure that marketing performance metrics are put in perspective. Measuring marketing activities and channels while considering your customer segments and general business and financial metrics enable your company to review its return on marketing investment. This review will give you information to help plan for future marketing reinvestment.

Effective Processes

This is where you identify the marketing activities that would give you the highest return on investment. Keeping to inventive but established marketing processes will result in immense improvement in the marketing results, building a solid foundation for sustained higher marketing performance.

Information Analysis

Leveraging customer data for convincing insight into purchase behavior enables you to make the most excellent marketing decisions. Carefully analyze your customer data, focusing on the areas that would help your organization improve marketing performance. This may require that you reorganize your information collecting capabilities to give you greater insight that will improve your overall marketing capabilities.

Technology Underpinning

The appropriate technology can help create a rock solid integrated marketing program. This should be built on a foundation of synchronized corporate strategies, processes and efficient organizational structure. In implementing a correct technology underpinning, you would need to characterize your business objectives and establish a customer response mechanism before creating the right technology environment.

M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance

Copyright Control © 2011 Oseme Group

Innovative Marketing

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Inbound Customer Marketing

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By Isi Eromosele

Inbound Customer Marketing is the leveraging of every customer contact by offering each one of them a personalized product or service offers. Inbound customer contacts presents an opportunity to personalize communications with a customer who is interacting with your company by choice and is ready to share their needs. This customer contact could be made through a website, call center or a customer service representative.

Through advanced mechanisms, a company can capture customer information on issues such as their needs, lifestyles and purchasing preferences. This information would then be analyzed to generate deep insights about each customer. Predictive modeling is then used to anticipate customers’ tendency to make purchases. Real time algorithms analyze recent interaction with each customer that enables personalized offers, increasing the chances of success.

Other optional ways that Inbound Customer Marketing can be implemented for competitive marketing include installing applications across a variety of marketing channels that lack interpretive logic reasoning. An advanced mode would see Inbound Customer Marketing integrated across touch point channels to ensure a coherent marketing approach.

The proper implementation of Inbound Customer Marketing strategy enables companies to approach their customers with the right message, at the right time through the channel of their choice.

When a customer contacts the company to make a product or service inquiry or even file a complaint, a personalized and pertinent message would be communicated to them, ensuring an increased chance of success. Inbound Customer Marketing solutions present companies with opportunities to convert their contact touch points into increased revenue generating channels.

Essentially, an Inbound Customer Marketing implementation uses a mixture of customers’ historical, personal and related data to create a real-time profile of each customer. This profile, combined with real-time analytics and business rules assessments is used to deliver personalized, relevant and impressive offers to each customer. Channel touch points that have Inbound

Customer Marketing applications integrated into them help to deepen customer relationships with the company by offering customized products or services at customer initiated interaction.

The implementation of an Inbound Customer Marketing strategy should be executed in separate phases as a component of an overall marketing and customer relations strategy.

  • The first phase would involve the development of deeper understanding and insights into customer needs, requirements and purchase behavior by utilizing customer segmentation and analytic tools.
  • The second phase would focus on facilitating real time interaction applications to dynamically change customer characteristics that would drive unique offers.
  • The third phase requires the integration of Inbound Customer Marketing applications across inbound customer touch points. This ensures a consistent customer experience across inbound and outbound customer channels. During this phase, operations, systems, people and processes should be reorganized within the marketing and sales department.

An additional feature that is available in some Inbound Customer Marketing applications is automated predictive analytical modeling, which adjusts personalized offer selection in real time based on customer responses to the initial offer. This negates the need for lengthy very lengthy modeling processes, which can result in improved targeting on many offers.

By leveraging cross channel customer data for inbound communications, new opportunities are opened up for new sales and vastly improve customer relations that ordinarily, cannot be accomplished through outbound marketing.

M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance

Copyright Control © 2011 Oseme Group

Innovative Marketing

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International Search Marketing

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By M. Isi Eromosele

Today, the whole world is global market. Nations trade with nations. Countries trade with countries. Regions trade with other regions. One element that has given great to the growth of international trade is the Internet. It has played a significant role in facilitating the processes (marketing, dealing, negotiations and communication) needed to conduct global trade. As a result of the above, it is now simpler to trade and market globally.

A key component of the Internet is the search engine. A recently released survey of the global search market showed that 180 billion searches were performed worldwide during the year 2010, an increase of 44% when compared to 2009. Europeans and Asians search far more than Americans and everyone else. Latin Americans lead in the categories of which regional group does the most searches per searcher.

As you prepare to enter a foreign market, say in Europe, you may want to go in with a sub-domain, as you implement a search campaign. Your will need to use a particular country’s name abbreviation, rather that the language. An example in Germany would be http://www.entry.de instead of http://www.entry,german However, if you are planning to enter any foreign market for the long term, you will need to purchase a local domain name along with the local hosting service.

Building a website for the foreign market requires a certain level of sensitivity. You need to be very careful with the translation of the website content. It is more efficient to use the services of a local translation company who has better knowledge in the local language relevant to your industry. If you cannot translate the entire site, it is imperative that you translate as much of the site as possible, including forms and buttons. A translated page that is linked to English content forms on your main site is not going to work. You should have the translation work carefully proofread because terms could possible misinterpreted.

Global online search marketing offers challenges and rewards. You will discover the following: With your website, you will discover that the German’s purchasing behavior is different from that of Americans; the French are choosy shoppers and the Japanese are not good at follow-up after they make a purchase.

To succeed with your Internet search marketing plan, you will need to treat each market as separate entities and approach these markets in a culturally sensitive way. Analyze how your first entry competitors are doing in your target markets. Most importantly, make sure you website is easy to use for your foreign market target audience.

M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance

Copyright Control © 2011 Oseme Group

Innovative Marketing

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Multi-Channel Marketing

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By M. Isi Eromosele

The ability to deliver multi-channel marketing is becoming increasingly crucial for companies that are poised to become successful in their respective marketplaces. The key to successful multi-channel marketing implementation is to provide unique value propositions to high value customer segments.

In today’s highly competitive business environment, every company should be marketing and operating in a multi-channel communications mode. There are substantial differences between strategies that simply provide multiple channels for customers and those that provide cross-channel benefits based on integration among multiple channels. There are four imperatives to be addressed to become a successful multi-channel marketer:

  • Choose between a multiple-channel strategy (simply making multiple channels available) and a multi-channel strategy that provides unique cross-channel benefits
  • Identify a cohesive multi-channel network architecture that clarifies channel roles
  • Manage the customer experience seamlessly on a cross channel basis and faithfully deliver on the brand promise
  • Build capabilities needed to market a multi-channel enterprise

In implementing multi-channel marketing, it is appropriate to adopt a dynamic value proposition that include new benefits sought by high value multi-channel customers. Two primary benefits drive winning multi-channel value proposition.

  • Better Convenience - There are two facets in better convenience. For some customers, it means quicker access to information. For others, it means the ability to make purchases without leaving their residence
  • Additional Targeted Information - Customer access to customized information that is embedded with personalized suggestions to help drive customer choice

Explicitly define the role of each channel within the implementation of a multi-channel architecture. The specific functionality and format of each channel and how it will interact with other channels needs to be clearly set in place. This is critical to making the implementation contribute to company profits

The important key to this process is carefully mapping high value customer usage and preferences and designing the architecture to match them.

A successful multi-channel implementation must tightly integrate brand promise, value proposition and customer service to provide a flawless experience. There are four important issues that need to be considered in the management of customer experience:

  • Organizational Commitment
  • Resource Allocation
  • Marketing Practices
  • Metrics

In building capabilities of your multi-channel architecture, focus on three critical success factors:

  • Tightly align your brand and multi-channel proposition. Design and deliver value propositions that offer unique convenience and information benefits.
  • Upgrade your Customer Relationship Management capabilities to enable multi-channel management. Provide Web-enabled tools to accelerate the ability of all channels to collect and provide high impact data about your customer’s purchasing behavior
  • Create a portfolio of cross-channel programs based on your insights into the convenience and information benefits sought by your high value customers. Continue to define ways to provide better convenience and information that will yield powerful signs for future actions

M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance

Copyright Control © 2011 Oseme Group

Innovative Marketing

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Customer Engaged Marketing

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By M. Isi Eromosele

Customer engagement marketing aims to:

  • Persuade targeted customers the company or offering is worth their time, effort, money and commitment
  • Create, stimulate or influence customer engagement behavior

Customer engagement marketing provides new guidelines and opportunities for the development of business to customer communications as well as helping to build long-term customer relationships.

The implementation of customer engagement marketing practices requires a coherent methodology and efficient execution, both online and offline. However, the Internet is usually the basis for customer engagement marketing. Customer engagement marketing practices aim at participating and advancing the social media experiences of consumers.

The interactive experience that digital media provides has facilitated the expansion of customer engagement as part of the social media experience. Additionally, it has changed the ability of businesses to engage their customers.

The following are the principal differences between traditional and customer engagement marketing: It is crystallized by the shifts:

  • From general knowledge focused marketing toward more targeted and personalized interactions that move consumers to connect with and act on relevant content
  • From communication obstacles between companies and their target customers toward partnership between both parties in product development, customer service and other aspects of brand building
  • From one way, top down communication from companies to customers to continuous discussion and personalized communication that is initiated by either party

Customer Engagement Marketing Practices entail:

  • Giving confidence to collaborative sifting - Encourage your customers to sift through interactive forum generated information to market your products. Consumers are more skillful at creating highly targeted classifications of products they use, within the market segment they are a part of.
  • Group Development - Helping target customers develop their own communities or create new ones
  • Group Participation - Consumers are most comfortable in filtering and rating companies and products at non-sponsored, online spaces rather than at company websites. You must go and meet your target customers at their favorite online setting, not only to listen, but also to participate in the discussion
  • Help customers engage with one another - Give them content (viral podcasting, videocasting) that they can use to connect with one another
  • Ask for user generated content - Connect with your customers directly or indirectly with your product by enabling them to create user generated content
  • Customer self service - Help them to create a customer service FAQ in blog format. Build a blog where your support staff and customers can communicate directly
  • Product co-development - Build a blog where your product developers and consumers can communicate directly

The behavioral outcome of an engaged customer is what links customer engagement marketing to increased profits for your organization.

M. Isi Eromosele is the President | Chief Executive Officer | Executive Creative Director of Oseme Group - Oseme Creative | Oseme Consulting | Oseme Finance

Copyright Control © 2011 Oseme Group

Innovative Marketing

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