richmeyer

The fundamental component driving consumer spending income

newretailThe decline of the U.S. middle class has corporate America and Wall Street scared. And nobody is more frightened than America’s biggest retailers.   More than five years after the end of the Great Recession—August 2014—retail spending per person had finally reached its prerecession level.  The culprit is low wages and income growth for the middle class. Median household income in 2013 stood 8 percentage points below its 2007 prerecession level. The simple fact of the matter is that when households do not have money, retailers do not have customers.

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57% of consumers will abandon a website if the page does not load within 3 seconds

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. Continue reading »

Great marketers have great guts

grtmarkletingLeo Burnett didn’t need a legion of focus groups to come up with the Marlboro Man. Steve Jobs, arguably the greatest marketing mind ever, famously eschewed market research because he didn’t think customers knew what they wanted until he showed it to them. Continue reading »

The business of marketing has to change

Time for Change - ClockIt 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. Continue reading »

Marketing Truisms

truism-04-beda-achermannThere 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…
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Why brands have to BLOG today

28% of Fortune 500 companies (139) have public-facing corporate blogs this year, according to data from the University of Massachusetts at Dartmouth, released in August. This represents a 5% point increase from 23% in 2011 and 2010, and is up 75% from 2008, when just 16% of the Fortune 500 had public-facing blogs. 2 of the top 5 corporations (Exxon and Wal-Mart) have public facing blogs, while the remaining 3 (Chevron, ConocoPhillips and Berkshire Hathaway) do not.  Why are BLOG’s so important ?  Because with a BLOG you’re going to reach more people and index higher in organic search. Continue reading »

Research: ROI on social media has been dismal

A report from The Incyte Group on social media marketing that states “U.S. marketers spent $3.08 billion on Facebook brand pages and social media advertisements and the investment return has been dismal” .   The fact is, despite their reach, open social networks have not proven to be the most effective customer-acquisition or revenue-generation channels, and most businesses are still seeking to quantify the business value of their investments. Continue reading »

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