On the Evolution of Work Systems in the Digital Economy
Tag Archives: marketing
This infographic, which was submitted by Circa Interactive, covers important skills that are in demand for modern marketing professionals. In brief, the infographic provides important information and statistical data on the following skills: content marketing, mobile marketing, email marketing, social media marketing, search engine marketing, video production, data analysis, blogging, operational skills, user experience skills, and basic design skills. According to Maryland University:
Technology and social media have made a profound impact on marketing over the past few years. So much so, that small business owners, entrepreneurs, and marketers may need to update their skill sets to properly engage with he next generation of consumers (Gen Z) while effectively leveraging progressive technologies.
The following content and infographic was submitted by on behalf of Wikibuy.
Adding coupons to a built-out business strategy offers a number of benefits to today’s businesses. By influencing the customer purchase journey and driving customer loyalty, coupons have the ability to attract, convert, and keep customers, providing both short-term and long-term ROI. Coupons help businesses to:
Attract new customers: According to research by Inmar, 39% of customers say they’ve purchased a product from a brand they otherwise wouldn’t normally have bought from because they had a coupon for that brand.
Generate long-term loyalty: Research from ReadyCloud revealed that 68% of customers say coupons generate loyalty; additionally, studies have found that receiving an exclusive offer makes customers feel rewarded, excited, and special, generating goodwill for the brand.
Increase purchase amount: A study by Kelton found that coupons influence customers to seek out something to buy, treat themselves to something they don’t need, purchase a more expensive product, and spend more than intended.
Brands looking to leverage the benefit of coupons should focus on specific types of deals that have been shown to attract customers and increase conversions, including:
Offers on everyday items: 54% of consumers use coupons on basic necessities.
Free shipping: Nine out of 10 consumers say free shipping is their top incentive to shop online more.
Rebates: 83% of consumers think rebates are great savings opportunities.
LTOs: Approximately 50% of millennials think limited time offers are very enticing.
Surprise perks: 61% of online shoppers say receive surprise discounts is their preferred personalization experience.
To help get you started incorporating coupons into your business strategy, Wikibuy compiled 29 research-backed stats for driving purchases with coupons. Check out the full visual below to see how coupons can benefit your business.
My previous post on the state of marketing doesn’t reflect random interest. Having put myself out there on the Internet as a professional for a few years, I know unsolicited sales pitches from business development and marketing “gurus” come with the territory. I’ve often thought it might be a good idea to take a cue from Richard Herman, call myself a professional quality attention giver, and set a price for my attention and time ($8.00/minute to read supposedly sly let’s-see-if-I-can-convert-this-friend-into-a-client messages, etc. – Hurry! This generous, promotional rate won’t last!). According to Matthew Gentzkow’s figures in Trading Dollars for Dollars: The Price of Attention Online and Offline however, here’s the actual monetary trend for attention across time and media: Read more of this post
When it comes to organizational cost-cutting, I’ve often heard that the marketing budget is commonly among the first to be cut. Until now, I didn’t know why exactly. However, the preview section of Does Marketing Need Reform? Fresh Perspectives on the Future clarified the factors contributing to the current state of marketing. This book was authored by Jagdish N. Sheth and Rajendra S. Sisodia, and was published in 2006. So, it’s dated but the major themes are still relevant as they are echoed in the 2011 video below.
The following historical facts and figures, as cited by Sheth and Sisodia, put the past and present situation in perspective:
- “In an age when the mantra of business has been ‘do more with less,’ the marketing function has for too long been ‘doing less with more.’ In most industries today, the marketing function consumes over 50 percent of corporate resources, up from less than 25 percent around 1950. At a macro level, marketing represents a tremendous waste of resources that could be better utilized elsewhere.” (p. 20)
For those who have an interest in marketing, check out this post for some essential wisdom and strategies for thriving in these volatile times.
First published January 15, 2009 in Mediapost’s Search Insider
I am an unrepentant Darwinist, which probably doesn’t surprise anyone who reads my columns on a regular basis. The whole topic of evolution and emergent behaviors in complex systems constantly fascinates me. As Steven Johnson pointed out in his recent book, “Emergence,” the theme of patterns rising from complexity is ubiquitous and could well define the 21st century.
The World is a Cruel Place – Get Over It!
One of the most interesting things about evolution is that the pace of evolutionary change picks up in the face of adversity. The more hostile the environment, the faster the wheels of evolution roll and the quicker we adapt. Of course, we do so in a pretty ruthless way. The weak get culled faster. There are no consolation prizes in this lottery. Winner takes all. Richard Dawkins didn’t call genes “selfish” for…
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