Product has long been one of the four “Ps” of marketing, along with Price, Promotion, and Place (distribution). As digital services have become a pervasive part of modern life, the Chief Product Officer title has similarly grown in popularity. …
Minimum Viable Brand Experience in Customer Centricity
In my last blog post, I pointed out that Low Value Customers are Not a Problem to be Solved. I stated that “Any time your salesperson or customer service rep spends time making a low rCLV [residual customer lifetime value] customer feel great…
For any number of reasons, there comes a time when many entrepreneurial-minded people decide to take on “real jobs.” These folks have great energy, and I have hired a number of them over the years for exactly that reason. They are driven, passionate, and they can be valuable to an…
A couple months back, I had the opportunity to present to a packed room at Skookum in uptown Charlotte. It was my first run with this new deck, but the response to the material was highly positive. Check it out!
Customer centricity can reveal the insights necessary to determine which customers should get the premium treatment, and which should not. Specifically, a business would be best served by reserving its most outstanding service for those with high residual customer lifetime value (rCLV, the aggregate value of a customer’s future transactions…
Traditional marketing is composed of the 4 Ps, which include product, price, place, and promotion.
Briefly, promotion is what most people perceive as marketing, and it involves the communication of a value proposition to potential buyers. Product includes to the the attributes and characteristics of what is being sold. Price…
Marie Forleo talks about Sales Prevention on a recent ilovemarketing.com podcast, and my mind is racing. I’ve advocated this concept for a long time, but I’ve never come close to articulating it as well as she has.
Sales prevention as a powerful growth strategy, because:
- It grabs serious attention to say “no” among a sea of “yes.”
- Those not turned away feel even more special.
- Brutal honesty is refreshing.
- Those most likely to waste your time will often opt out.
If you have a top performing product or service, and you know it, then use this!
This is a loose framework for strategic product thinking that has served me well over the years. It is a tool that can help narrow down the world of what you could do into what you should do. …
Why is “marketing” so often used interchangeably with “advertising” when advertising is only part of ONE of the FOUR Ps? (Product, Price, Place, and Promotion)
Whether you’re talking about marketing or advertising, marketing guru Mitch Joel is right on when he says that people don’t hate marketing. They hate bad…
