Marketing

Caffeinated ideas and views on marketing communications


Decisions with unintended consequences

29 Nov
2017
by Deborah Brody, posted in Communication, Marketing   |  No Comments

This is a post about unintended and negative consequences, based on two separate experiences yesterday.

Last minute deal—get in at no cost!

Last night, I attended an event on trends in digital marketing. I signed up for it a couple of days ago, and paid $11.84. Yesterday, about two hours before the event was due to start, there was an email from the organizer to a listserv I am on saying that she didn’t have enough attendees, so if anyone wanted to attend for free, they could.

I felt like a sucker. Why had I bothered to pay anything at all for an event that wasn’t garnering enough attention to the point that the organizer was begging people to come by offering free admission?

And the real question is, why would I ever pay this organizer for any event when it may be more advantageous to wait until the last minute?

The unintended consequence of this poor decision is to effectively make people decide to not sign up in advance, to not pay at all, because there’s a likelihood that if too few people sign up in advance, the organizer will be desperate enough for warm bodies and offer free admission to all.

Ask and ask and ask again—until they don’t want to be asked again

Unless you were not online, or checking email, you know yesterday was Giving Tuesday. Giving Tuesday was developed (supposedly) as an “antidote” to Cyber Monday/Black Friday. In theory, Giving Tuesday is a chance to support charities instead of, or in addition to, shopping like mad for the holidays.

A lot of hoopla has developed around this “holiday.” Case in point: Every organization that I have ever supported sent me emails the week before, the day before and the day of, to beg me to give them money on Giving Tuesday. Some organizations sent multiple emails on Tuesday in addition to multiple emails on the days before. My inbox was flooded with requests, and then so were my social media feeds.

Some organizations were getting matching funds on Giving Tuesday, so giving on this day automatically meant more money in the coffers. But the level of pushiness these organizations reached around Giving Tuesday in order to get these extra funds may have had the unintended consequence of reducing the number of people opting in to enewsletters. I unsubscribed to at least two, and was seriously considering unsubscribing from all of them.

The intensity of the effort made it seem as if this was your one chance to give, as if you couldn’t give any time of the year, and as if giving at any other time was just not as good. The other unintended consequence of this extreme focus on Giving Tuesday, I believe, is to reduce year-round giving.

Organizations make lots of decisions to fulfill short-term goals (get lots of donors on Tuesday), but which neglect to take into consideration long-term goals (develop good relationships and donor opportunities year-round). In other words, before you make a snap decision that only affects one event/day, think about what your overall goals are, and whether this decision furthers those goals or not.

About Deborah Brody

Deborah Brody writes and edits anything related to marketing communications. Most blog posts are written under the influence of caffeine.

To gift or not to gift…a marketing question

14 Nov
2017
by Deborah Brody, posted in Marketing   |  No Comments

As has happened every November for the six years I’ve lived in my current home, I received this on my doorstep:

20171113_100754It is given by a local real estate agent who also sends a magnetic calendar in the mail and places quarterly sales updates on my doorknob. He includes a card with his contact information along with the jar of apple butter.

Here’s the problem: I don’t really eat apple butter. I am not opposed to it, but it is not something I eat regularly. I have three unused jars from the past few years, and I don’t really know what to do with them. It’s a shame to throw them out, but it’s not something I feel counts as food to be taken to the food pantry. In other words, it has become clutter and something that puts the burden on me. For me, this is not a welcome gift.

I am not sure why this real estate agent keeps doing this. Perhaps he has found there is a return on investment, or he wants to be known as the apple butter guy. I am not sure, but in my opinion, his is an example of how not to do corporate gift giving.

Gift giving can be a good marketing tactic, as long as there is some thought and strategy behind it.

Many large companies regularly give customers a gift that costs them very little but is very effective in getting people to the door: a free visit,  a $25 coupon toward your purchase, discount cards, VIP seating, and so on. Others send Christmas gifts to ongoing customers Some take hold monthly birthday lunches for clients. These companies and organizations have budgeted a certain/set amount toward corporate gifts, and have instituted these as regular marketing effort.

In order to have a successful gift giving campaign. you should think about the following two things:

1. What are you trying to accomplish?

Perhaps you are thanking customers for their business during the year, or perhaps you want to entice new customers. Either way, if you don’t know why you are giving, there is absolutely no point to doing it.

2. Who are you giving to?

This is crucial information. If you are giving to a client you’ve known for years versus giving to a potential customer, you will be spending different amounts of time and effort. For a long-term client, you probably will need to find a personalized gift, and for a potential customer, you want to encourage them to check  you out.

But not just any gift will do.

Once you’ve decided what you are trying to do and to whom you are giving, you can choose the gifts that make the most sense. Some attributes that you may want to consider are these:

  • Memorable
  • Useful
  • Linked to your brand identity
  • Stand out from the crowd

Remember: what makes a a good gift is something the recipient appreciates or wants.

What are your thoughts on gifts as a marketing tactic? Have you received or given a particularly good or bad gift? Please let me know.

About Deborah Brody

Deborah Brody writes and edits anything related to marketing communications. Most blog posts are written under the influence of caffeine.

When you want to be found

14 Sep
2017
by Deborah Brody, posted in Marketing, Websites   |  No Comments

Yesterday, I was browsing through books in my favorite used bookstore (where you can get most soft cover books for $2 each, a real bargain, and most books are in great shape to boot). As I was making my way through the Fiction section, I came across Diane Ackerman’s The Zookeeper’s Wife, which is the real life story of a Polish woman who saved Jews during World War II, thus making it a non-fiction book. I came across a Denise Mina book that should’ve been housed in the Mystery section. I came across memoirs and biographies. In short, there were a lot of books that were not classified correctly and therefore shelved in the wrong place.

bookstore shelves

Bookstore picture courtesy of Kaboompics

Being in the wrong place makes it hard to be found.

The used bookstore is volunteer-run, and it may be too much to ask volunteers  to know what each book is or where it belongs. Since books are donated, there is no inventory. On the other hand, in a regular bookstore, books are shelved by ISBN numbers and inventories are computerized. It’d be rare that book was shelved in the wrong place, unless a customer put it back where it didn’t belong. If you were looking for a particular book, you could ask someone to look it up to see if it is available and if so, where it is located.

Classification is important, especially on the internet.

The internet is more like the used bookstore than it is like the organized world of Barnes & Noble. The internet is pretty much volunteer-run and the volunteers are each website’s owners. In other words, on the internet you self-classify—you put yourself on the right (or wrong) shelf.

As the website owner or manager, you choose how you want your site to look, what content to include, and what keywords to use. You choose whether you will optimize your site to be found on search engines (SEO) and whether you will do it well  (use the right tools, or hire a professional) or not.

When  you want to be found, especially online,  you have to know how to describe yourself and where people would look for you. You have to know how you are classified and what keywords people use to find you.

You must understand yourself and your market.

In the used bookstore, there are some volunteers who are avid readers, some who are aces as alphabetization and organization, and some who just want to help but have no clues. The volunteers who can alphabetize, organize and know books well what are the ones who know the right place to shelve a book.

You have to understand exactly what to do, and how the world classifies you. You may think that you do one thing (like Mattress Firm thinks it sells “sleep solutions”) while  most customers see you differently (customers shop for mattresses not sleep solutions). It may be tempting to figure out some fancy description to help you stand out, but unless you classify yourself correctly and use the more common keywords searchers would use, you will not be found.

Don’t be the memoir languishing in the fiction section. Classify your website correctly and use the right keywords.

About Deborah Brody

Deborah Brody writes and edits anything related to marketing communications. Most blog posts are written under the influence of caffeine.

Care matters more than marketing

07 Sep
2017
by Deborah Brody, posted in Marketing   |  No Comments

A few weeks ago, I dropped my old Samsung smartphone, rendering it useless. Panicked at the thought of not being able to check Facebook on the fly (kidding), I ran over to the ATT store nearest me. There, a very young person pretending to be a customer service agent, did not help me get a phone.

Here’s why care matters

First, I had a contact lens emergency. I asked to use the restroom to deal with it. The young lady said no restroom was available. Evidently, ATT does not care about the well being and comfort of visitors to its stores.

Second, I asked her to see a Galaxy S7. She told me they don’t have them in stock. Only the more expensive Galaxy S8s. I don’t want to spend the extra money I told her. She then said maybe it could be shipped to me, but that it would take a week. A week? Without a phone? I asked her if  she could check availability at nearby retailers. No, she said, she couldn’t possibly do that. Could she expedite shipping then? No, she couldn’t do that either.

Third, and finally, I said: “What if I go over to the Sprint or T-Mobile store then? I am not under contract with ATT.” She shrugged. She didn’t care. I left.

Another young person without a clue

I drove up the street to BestBuy. There, the store did have some Galaxy S7s in stock. However, the young (notice a theme here) “sales” person was not super helpful. He did get me a phone, but only after telling me several times that I should get the S8. He also tried to scare me into getting GeekSquad protection. And into getting a screen protector, case, charger, etc. In short, he was being a real pain. And to boot, he would not even try to get my contacts and other information off my old phone. I am not even going into the whole story but suffice it to say that the 24-year-old had a horrible attitude.

Being helpful  and trying to resolve problems goes a very long way

I ended up speaking to the kid’s manager, who promised to speak to him and to help me out. The next day, the much nicer (and older) manager spent nearly two hours with me, getting the stuff off the old phone and transferring it to my new phone and to a flash drive. He saved the day for me, and gave me a much more positive view of BestBuy.

Complaining to ATT garnered zero action

I called ATT and after dealing with the most annoying robot, I got through to a customer care agent. I told her I had a complaint about the store I went to. She put me through to a manager who didn’t see a problem, didn’t even ask what store it was or the name of the employee. I then tweeted the wrongly named @attcares. No care there either.

Is all well that ends well?

In the end, I have a working phone. I have my contacts. I have my photos. I don’t have voice mail but that is the subject for another day.

ATT can market all they want but unless they start showing some care, I will not stick with them as a customer. Their Twitter “customer service” is slow to respond, and that makes it nearly useless. Their customer service via phone has gonedown hill. If you have a problem with ATT, it seems you are on your own.

We are fine with any company until there is a problem that the company will not try to solve. If a company shows genuine care (like the BestBuy manager did), you are willing to overlook the problem. If a company does not show care (like ATT), you are not willing to give it a second chance.

What do you think? Do you stick with companies that treat you poorly? How important for you is it to get good customer service?

 

About Deborah Brody

Deborah Brody writes and edits anything related to marketing communications. Most blog posts are written under the influence of caffeine.

Does PBS get the support of viewers like you?

15 Aug
2017
by Deborah Brody, posted in Communication, Marketing   |  No Comments

We need your support and we will interrupt your viewing until you give us money!

This seems to be the PBS mission during its pledge drive

Currently, it’s the upteenth day during the upteenth time this year that my local PBS station, WETA, is looking for support from viewers. It may not be endless, but it sure feels like it.

Pledge month (?) is the time when the station starts playing “specials” that have been played dozens of times before, and interrupting them every fifteen minutes to ask for your support. In return, you will get any number of mugs/bags/videos/books based on the size of your contribution. Also, every other show seems to get interrupted–the Newshour, Washington Week, and most egregiously, the finale of the Great British Baking Show.

Enough!

Viewers like me do not like to watch tired, old “specials.” Viewers like me hate having shows interrupted multiple times by the same talking heads giving repetitious pitches on why to give to the station. Viewers like me do not want mugs or tote bags. Viewers like me click off PBS the instant this pledge madness starts.

How can this model work today?

Here’s a newsflash for PBS: Times have changed.

Hundreds of viewing options

All TV channels are under intense competition—both for viewers and for advertising dollars. This is because viewers have many more options for entertainment than ever before: There are hundreds of cable and streaming channels, and also an internet chock-full of stuff to watch, read, react to and interact with.

It’s an on-demand world

With DVRs and/or access to content on demand, people can watch shows on whatever schedule they choose. They can ignore advertising (and pledge drives).

There’s a streaming channel for that

It used to be that you could only watch British shows like Downton Abbey or Inspector Morse on PBS. Now, you can stream them on specialized British TV/movies channels, and even watch them on Netflix.

Watch TV wherever you are, whenever you want

Smartphones and tablets can access the internet anywhere and everywhere. And users of these devices can buy/rent/download all sorts of entertainment to watch even when there is no internet access.

Interrupting viewer with a push-message is really old school

These days, inbound marketing is in favor. That’s when potential customers/supporters come to you because you are providing great content/reasons for them to interact and buy/support from you. Forcing yourself on viewers, like the pledge drive on PBS does, is the complete opposite. It assumes a static audience that does not have any option but to sit there and listen to a sales pitch. It assumes that pushing a message is the best way to get action. It’s the old way of doing things. And it may help PBS shed viewers, not gain them.

Is annoying viewers for a $60 donation the best way to keep PBS afloat?

When you are aiming for lots of small donations, you have to do a lot more work. In this case, it means interrupting viewing more times, more often. It gets annoying. It’s a turn-off. And I don’t believe it’s effective. I think it would be far more effective to concentrate on getting and retaining big, corporate or foundation sponsorships.

I understand PBS wants community support too. Perhaps instead of asking viewers to donate, PBS could emphasize obtaining a yearly membership with (real) special benefits (currently this is not clear on the PBS website). Instead of having pledge drives, PBS could include a 15-second ad/message for membership before popular shows.

What do you think? Do you watch PBS? Do you support PBS? Why or why not?

 

 

About Deborah Brody

Deborah Brody writes and edits anything related to marketing communications. Most blog posts are written under the influence of caffeine.

Check for accuracy STAT

08 Aug
2017
by Deborah Brody, posted in Communication, Marketing   |  No Comments

The other night, I heard a loud, scratching noise in my chimney. It sounded as if  an animal had gotten in. My first thought (and fear) was that a small bat was in there and it would then come into the house. Since it was close to midnight, there was nothing I could do except check the website for the local animal trapping company that I’ve see working in my neighborhood. According to Google results, their office opened at 7:00 a.m. The website listed an 800 number, and four local-area numbers. I decided to call first thing to see if they would send someone right away.

At 7:00 the next morning I called up the company. I got a message saying their offices opened at 8:00 a.m. Their Google My Business listing was wrong and their website did not list hours at all.


 

Sometimes companies spend more time and money on developing new marketing or on sales pitches, and they forget to check the basics. So, before you do anything else marketing-related, check your current stuff for accuracy. Do it now. Seriously.

What to check:

  • Business name (is it complete, spelled correctly?)
  • Address/es (accurate, current?)
  • Telephone number/s (accurate, current?)
  • Website URL
  • Hours/days of operation
  • Staff names/positions/contact information
  • Email addresses
  • Pricing information

Where to check:

  • Your website
  • Your social media pages (Facebook, Twitter, LinkedIn, Instagram, etc.)
  • Google results/Google maps/Google My Business
  • Yelp and other review or listing sites (e.g., Angie’s List) you appear in
  • Printed materials (business cards, brochures, letterhead, postcards, etc.)

 

In the end, I was able to get the animal trapping company to come to my house later in the day. They checked the chimney and nothing was there (thank goodness!). They put some mesh on the chimney cap to prevent bats or birds from getting in.

This company has plenty of business around here. I’ve seen their trucks before as squirrels are constantly getting into attics (and bats are always in the belfry). They certainly have developed brand recognition. But you only call them when you need them and it is usually an urgent situation. Having multiple phone numbers and inaccurate hours is not helpful for anybody needing their services.

Any organization needs to consider what information potential users/customers/donors need to have, and then make sure that information is easily available and accurate. It just makes good marketing/communications sense.

About Deborah Brody

Deborah Brody writes and edits anything related to marketing communications. Most blog posts are written under the influence of caffeine.

You need more than a gut feeling

13 Jun
2017
by Deborah Brody, posted in Marketing   |  No Comments

At an event last week, I met the owner of a local pizza shop. This pizza shop, which opened about a year ago, is located near me, and seems pretty busy, especially on weekends. I asked him how it’s doing. The pizza shop owner immediately said it was doing poorly, and  he  said the parking situation was to blame. That seemed strange to me since there’s plenty of garage parking, which, with validation, is free for two hours. He told me that it doesn’t matter, because psychologically, people don’t like to pay for parking. And here’s a direct quote from him: “I have friends who can spend $500 on dinner but they won’t pay for parking.”

OK. I am sure there are people who avoid going places where they have to pay for parking. But I also don’t think free parking with validation, and a couple bucks an hour after is the one reason people will avoid going out to dinner.

I have been thinking about this situation for a few days, and I have concluded that this shop owner is looking for an easy excuse  for what may be poor business and marketing decisions on his part.

Here are three possible mistakes he has made:

Not scouting or researching the location carefully enough. This particular location has several other restaurants, and the parking situation has not changed in several years. He could have asked the other restaurants if they felt the parking was a challenge. He could have determined how many people walk or take public transportation to get here and how many people drive, and from where. He could have checked out if people complain about parking.

Biting off more than he can chew. This particular restaurant took over two spaces (one had been a restaurant and the other a shoe store). It is a very large place with both indoor and outdoor seating. Perhaps the space is too big with a rent that is too high to support the amount of people that will eat out here.

Not doing enough marketing (and marketing poorly). When the place opened, I joined the Facebook page for it. It seems that they are doing a few things to entice the community, like a trivia night and a pet adoption event. Now, I am not sure how having a pet adoption event at a restaurant is even a legal idea, and at best is a bit strange idea that may attract pet lovers. I have seen little to promote events in the community and very little creativity. Also, and I kid not, the sponsored Facebook ads promote their top sirloin beef burgers. This is a pizza joint and they should focus on their area of expertise. If you want a burger while everyone else wants pizza, it’s good they have alternatives for you. But if you want a really great burger, you are not going to a pizza restaurant for it.

Perhaps this pizza place owner’s gut told him that parking is the real issue. But a gut feeling does not mean that it’s the correct reason to explain a situation. If he truly wants to improve his situation, he’d commission market research and/or  hire a restaurant marketing consultant. He needs facts and actions rather than the feeling that parking, something that will not change and he cannot control, is hurting his business.

What do you think? Does it all amount to parking or may there be other reasons?

 

About Deborah Brody

Deborah Brody writes and edits anything related to marketing communications. Most blog posts are written under the influence of caffeine.

Are you making the best business decisions for your marketing?

06 Jun
2017
by Deborah Brody, posted in Marketing   |  No Comments

Yesterday, a friend and I met to have lunch at a new pupusa place in Bethesda that we’d read about. (In case you don’t know, pupusas are an absolutely delicious Salvadoran specialty of  stuffed thick corn tortillas that are griddled.)

When the pupusa place first opened, it was covered in Bethesda Magazine online  (I don’t know if it was in the print version). The article stated that the pupusa place was sharing the kitchen with a Japanese restaurant. I assumed it was next door to the Japanese restaurant, but it turns out that it is not separate at all.

I looked up the address online, and set out. Once I got to the block the restaurant was supposed to be on, I walked up and down the street not seeing sign for it anywhere. I noticed a Japanese place, but there was no indication that they served pupusas there.  I called the number listed on the pupusa place’s Facebook page. I said I was on their street but couldn’t find them. The guy who answered told me he was INSIDE the Japanese restaurant, and that they normally only do take out, but that we could sit inside the restaurant.

My friend and I went in, and told the hostess that we wanted to eat pupusas. She told us that it was take out only, but when I told her I had spoken to the pupusa guy and he’d told me we could sit inside, she let us sit in the bar area, and even took our order.

When the pupusas came out, the waitress realized we needed forks and knives since it’s kind of hard to eat stuffed tortillas with chopsticks. It took her another few minutes to reappear with forks for us.

Even with all the hoops to jump through, these pupusas were absolutely delicious, and we both really enjoyed our lunch. We decided that the next time we’d call it in as a takeout order, that is, if this place manages to stay in business.

This pupusa place faces many marketing challenges that are related to its business decision to be inside of a Japanese restaurant. Here are the top issues:

  • No signage whatsoever
  • No clarity on its Facebook page indicating their physical location inside the Japanese restaurant
  • Not a natural fit in cuisines
  • No menu or any printed materials
  • No clarity on being a takeout business

I am not sure how this place can surmount these difficulties. An article in Bethesda Magazine, and one Yelp review are not sufficient publicity. This place has to rely on word of mouth and even more, on people specifically searching for pupusas in Bethesda.

I’d recommend that the “restaurant” seek out it’s own space, even if only a food truck. Failing that, I would recommend it figure out a way of having a sign and a menu available within the Japanese restaurant. And definitely make it perfectly clear on its Facebook page that it’s take out only.

 

 

About Deborah Brody

Deborah Brody writes and edits anything related to marketing communications. Most blog posts are written under the influence of caffeine.

The danger of letting junior staff handle your communications

31 May
2017
by Deborah Brody, posted in Communication, Marketing   |  3 Comments

Holiday marketing goes wrong

This past weekend, I got an email from retailer Eddie Bauer with the subject line “Happy Memorial Day.” Now, last time I checked, Memorial Day is a holiday that commemorates and honors soldiers who have died in battle. It’s a solemn day, meant for reflection, gratitude, and mourning. It is not meant to be a happy occasion.

And Eddie Bauer was hardly alone. Grammarly, purportedly a website/app about proper word usage, also wished its readers a “happy Memorial Day.” And Walgreens, the drugstore, had a TV commercial that wished viewers a happy Memorial Day and sent regards and gratitude to the troops. Again, Memorial Day is not about those currently serving, it is about those who died while serving.

Ivanka Trump’s company got a bit of negative publicity because it tweeted how to make champagne popsicles to “celebrate” Memorial Day. You do not celebrate Memorial Day, you observe it.

These are mistakes and missteps that come from assuming you know something rather than actually knowing it.

These sad examples of holiday marketing show a deep lack of knowledge and understanding. They are mistakes that seem to come from people who have little breadth and depth.  That’s what I mean by junior staff. Junior staff members are not necessarily young, but they are inexperienced, have little knowledge, don’t always understand context, and may make poorly thought out decisions. Junior staff may be aces at the tactics, like posting to social media, but they aren’t versed on strategy and communications goals.

When grownups handle communications

Over the Memorial Day weekend, Budweiser was running a promotion in which a portion of beer sales proceeds would be given to Folds of Honor, a charity that provides educational scholarships to families of fallen service members. In all aspects, this is a smarter and much more appropriate marketing tactic than the Memorial Day greetings listed above. It shows an understanding of the meaning of the holiday, and does something to give back (and thus, honors).  Budweiser gets that people like to have cookouts and drink beer over the long holiday weekend, so it is taking advantage of a behavior and making it be worthwhile both for the bottom line and for what the holiday stands for.

Understand what it means and how it’s best acknowledged

Holidays make easy marketing markers. Every store in this country uses the different holidays to sell something. If it’s Fourth of July, get your flag themed whatever (t-shirts, cakes). If it’s Thanksgiving buy some Pilgrim/turkey themed stuff. There are pastel colors and rabbits to celebrate Easter.

Yet, not all holidays are the same. Some are religious, some are patriotic, some are celebratory and some are solemn. Understanding what the meaning of a holiday is, and how people celebrate or commemorate it, goes a long way in ensuring that you won’t be making a junior-level, major marketing mistake.

Did you notice any Memorial Day marketing missteps? How do you feel about using a solemn holiday like Memorial Day for marketing purposes? Let me know in the comments.

About Deborah Brody

Deborah Brody writes and edits anything related to marketing communications. Most blog posts are written under the influence of caffeine.

Doing too much marketing?

05 Apr
2017
by Deborah Brody, posted in Marketing   |  No Comments

There’s a real estate guy who specializes in selling homes in my neighborhood. He is very eager to work with me. I know this because I receive marketing stuff from him constantly. I get a jar of (branded) apple butter on my doorstep every fall. I get a property report, hung on my doorknob on a quarterly basis. I get a magnetic calendar every December. All told, I get at least six direct marketing pieces from this guy every year. As does everyone in my community.

As a communications consultant, I understand what his rationale and motivations may be:

  • Gain/retain name recognition
  • Stand out from the crowd
  • Appear neighborly
  • Show he is local and understands the community.

On a personal basis, I feel this guy is making way too much of an effort to get my business. And I feel his marketing efforts are intrusive.

But is this real estate guy doing too much marketing? The answer comes down to doing some calculations (yes, there’s math involved).

The true test of whether you are doing too much marketing has to do with the value of a customer and how much you are willing to spend to acquire said customer.

The value of a customer

Your first calculation will be to determine the value of a customer. To do this, you, will have to calculate how much money a customer’s business generates for you, in terms of current transaction, future transactions, and also including the potential value of any referred business.

Your marketing costs

The second calculation you will have to do is to figure out how much you are spending on marketing. To do this tally up all marketing related costs such as printing, advertising spending, distribution, consulting/design fees, website, memberships, and so forth. You may also want to include your time.

Cost per acquisition

Your final calculation is to figure out your acquisition cost per customer. So say you spent $10,000 on marketing in a year. You obtained five customers from that marketing effort. That means  you spent $2,000 per customer acquired.

Which means

If the spending to acquire each customer exceeds the value of the customer to your business, you acquisition cost may be too high.

I don’t know how much the real estate guy spends on his marketing, nor do I know what value his customers generate, but I sure hope he has done this calculation. If not, he may be doing too much marketing.

 

About Deborah Brody

Deborah Brody writes and edits anything related to marketing communications. Most blog posts are written under the influence of caffeine.

image_pdfimage_print