Category Archives: Consumers & consumer behavior

Retailers & Service Providers still don’t get social media

I live in an area that has been hard hit by hurricane Irma.  However, we, like a lot of other people, had ample warning and were able to evacuate safely.  You would think that retailers and service providers would have triggered resources to help them provide good customer service but they still don’t get social media. Continue reading

Stop thinking new customers and take care of the ones you have

A study, conducted by Bain & Company, along with the Harvard Business School, shows that, “Increasing customer retention rates by 5% increases profits by 25% to 95% .  Yet a lot of brands are willing to ignore customers who voice concerns or complaints about their products and instead focus on obtaining new customers. Continue reading

Brands can’t ignore women

In 2005, in a historic first, women “under the age of 30” in the biggest U.S. cities surpassed men “in earning power. ” Across the globe, women are faring better than men in employment trends. In Brazil and the U.S., for example, far more men than women are out of work. Even in higher education, women are “outpacing” men, achieving 140 bachelor degrees for every 100 that men attain.  From 1969 to 2000, the number of female graduates increased 157%, but the number of male graduates increased only 39%. As a result of such advances, women are gaining prominence in the global marketplace as new “economic powerhouses.”

Continue reading

Focusing on customer retention is more profitable

A study, conducted by Bain & Company, along with the Harvard Business School, shows that, “Increasing customer retention rates by 5% increases profits by 25% to 95%.” The study reveals some other notable facts about customer retention:

Continue reading

Men and women communicate differently

The average woman speaks about 20,000 words a day, men average 7,000.   Most men have a hard time communicating anything that remotely resembles an emotion. Why? Because emotions are scary to men, who think much more than they feel, and much of the time, many men don’t even know what or how they are feeling. Continue reading

Social media users want to be surprised and delighted.

loyaltyAccording to a COLLOQUY study today’s avid social media users want to be surprised and delighted. They love, for example, receiving personalized deals that are relevant to them. Just be mindful of the “creepy factor.” Consumers of all stripes don’t enjoy feeling like they’re being stalked. Marketers can do their parts by making their messages highly relevant and interesting to their audiences. And acting like a real PERSON – that means being mindful of personal privacy and not continually trying to sell them, but it also means listening to them and understanding the true dynamics of a conversation. Continue reading

Northwestern University marketing professor gets it wrong

A study, done by Mr. Grayson and Mathew Isaac, a professor at Seattle University, and published in April in the Journal of Consumer Research, surveyed 400 participants regarding 20 common tactics used in television and digital ads. Thirteen of the tactics elicited favorable responses, which surprised even marketers. When you reside in academia instead of the real world you live with blinders on. Continue reading