Tag: evangelist marketing
Courtesy of wintan29
Like almost everyone else who doesn’t don a skirt, I have watched Transformers 2: Revenge of the Fallen recently. The action was fast, furious and catered specifically for hot-blooded males of any age. After all, gigantic alien robots and Megan Fox is sure to draw the attention of the Y chromosome.
What’s interesting though is that a movie which is panned and “demolished” by numerous critics both overseas and at home, has taken the box office by storm. It became the first movie in 2009 to breach the US$300 million mark globally, achieving a massive US$109 million taking in the first weekend alone.
One of my favourite marketing gurus Seth Godin shares his ideas on how tribes are changing the world, community by community, in a grassroots evangelistic sort of way. In the age of social media with its platforms and tools – blogs, Facebook, Youtube, Flickr, Twitter, Plurk etc – the barriers to entry in starting any movement is considerably lowered. The democratisation of publishing and content production means that anybody can leverage on these tools to create pockets of influence wherever they are.
While not every one of us can be as convincing or charismatic a speaker as Seth, his speech does give us much food for thought on what we can do as marketers, as communicators, as publicists and as leaders. Perhaps it is time for us to start our own movements today?
PS – I just heard from Jackie Huba (via Twitter) of Church of the Customer that Seth’s looking for stories for his next edition of Purple Cow. Sounds like a great way to get your local stories of extraordinary products and businesses in …. if you can meet Seth’s high standards! I will start to consider some options now…
Used car salesman (courtesy of Chaka Raysor)
I am always puzzled why companies spend a lot more energy and focus on trying to sell rather than pleasing their customers. If you don’t already know, customer retention is a far more profitable strategy than customer acquisition. That, plus the fact that word of mouth is taking off more than ever in this ad-saturated age of increasingly powerful social networks. Here are some sobering statistics which tells you why you should pamper your existing customers rather than court new ones:
(Source: Customer Are Always)
Studies have also shown that a Customer’s Lifetime Value (CLV) can be far greater than that of a single transaction. In fact, 70% of a telco’s revenue comes from 30% of its customers: those who stay for years and purchase increasing levels of service. There is a nifty way to calculate CLV here.
Now shouldn’t you start paying more attention to those customers who made you who you are?