The New Economy changed the rules of selling: New Economy customers are weary of countless indistinguishable stores, brands, goods and services. Finances are tight, so today’s customers are increasingly discriminating. They won’t tolerate ordinary products, incompetent personnel or bad customer service. You must earn their trust, deliver value and ensure that your offering matches their needs.
When surfing the Internet consumers are impatient and often have ADHD. A one-second delay in page load time could mean a decline of 7% in conversion, 11% fewer page views and a 16% decrease in customer satisfaction. 57% of consumers will abandon a website if the page does not load within 3 seconds and 80% of these people will not return. While there is a rush into digital marketing a lot of companies are forgetting basic processes to ensure a good consumer experience.
It should come as no surprise to anyone that senior management is demanding more accountability from marketers. Even though, for some companies, profits are at record levels other brands are struggling to get and keep fickle consumers. Marketing, at its heart, is still about getting consumers to purchase your product. What has changed is that consumers have too many devices and have the attention span of someone with a severe case of ADD.
There are those that would have you believe that marketing has changed dramatically and for some products that may be true, but don’t believe the social media experts and agencies that would have you believe that you need their help to get it right. Here is a list of marketing truisms based on reality, not a sales pitch…
Though marketing and public relations are generally divided as tasks and not taken together, as time goes on, and business-consumer relations become more transparent, the two disciplines become more and more interrelated and inseparable. By coordinating marketing and PR efforts, companies can gain access to a whole world of consumer information and insights.