Comments on: The Loyalty Effect

By: What You Can’t See: 78% of Your Business « The Engaged Consumer

What You Can’t See: 78% of Your Business « The Engaged Consumer — Mon, 27 Apr 2009 20:16:01 +0000

[...] In the meantime, as we wait for more widely accepted measures, I would suggest this hypothesis: there is currently no more powerful tool in the marketer’s toolbelt to impact intangible marketing assets like loyalty, affinity, advocacy, and insight than social marketing. Proof points abound outside of Powered’s walls, but our statistics show an extremely powerful effect that I believe dwarfs other marketing mediums when you take into consideration relative cost. Aaron Strout blogged about them earlier. [...]

By: Aaron Strout

Aaron Strout — Tue, 27 Jan 2009 15:32:36 +0000

Tamia – that’s a tough position to be in and not unique in this market. When times get tough, companies have a tendency to retrench and make less rationale decisions than they might normally make. This is one of the reasons why numbers/measurement in this environment is so important because they don’t lie and help tell and unbiased story.

If it’s any help, we are doing a webinar tomorrow – Jan. 28th – and the focus is on building a business case for social marketing. One our speakers will be Rob Harles, VP of Community for Sears. It may be worth tuning in to see how Rob built his business case for their SKU community. There is a link on our homepage at http://www.powered.com

There is also a good podcast that my former colleague, Jim Storer and I did a few months back with Martie Collins of Microsoft. It’s on my old company, Mzinga’s site, but is worth linking too even from my new company, Powered’s, blog: http://tinyurl.com/anumw3

p.s. thanks for the props on my use of lyrics from Prince’s “Let’s Go Crazy.” Just trying to liven things up a bit.

By: Tamia

Tamia — Tue, 27 Jan 2009 15:07:37 +0000

I’m having a really hard time convincing our directors that “Keeping customers who are highly valued can greatly improve profit.”

They seem to ONLY want to focus on acquiring new customers, which, as we all know, is more time-consuming and expensive. As a matter of fact, our customer rewards program was recently canceled after only one year, even though the financial projections showing increased profitability were five years out. It’s extremely frustrating.

By the way, props for quoting “Let’s Go Crazy.”

By: PRstore Blog » Recession Marketing: Realign Your Strategy to Woo Existing Customers

Mon, 19 Jan 2009 22:24:01 +0000

[...] Strout, a blogger and marketing voice I deeply respect, reminds us that wooing your current customers is a fail-safe tactic in a recession: “Many companies I’ve talked to are taking a 15-25% [...]