Be A Customer-Creating and Customer-Satisfying Organism
credit: roland
Jeff Bezos, the CEO of Amazon.com once voiced this sentiment:
“We want to be the world’s most consumer-centric company… We focus incessantly on trying to get the customer experience right… See we’re not a book company. We’re not a music company. We’re not a video company. We’re not an auctions company. We’re a customer company.”
That was back in 1999 during an interview with BusinessWeek. Amazon is now an undisputed leader in online shopping and the reviews on their website make Amazon the world’s most trusted source.
The traditional mass marketing funnel looked like this: Create an an ad broadcasted to one million people. Get a 1% response on a $100 product. Then collect $1 million dollars. Finish.
This is what mass marketers do – throw as large a net as possible. The Internet would be perfect for such a model, right?
Click here to continue reading
Giving Money Away Strategy
credit: Matt McGee
Giving out discount coupons are so passe. Now to promote spending and prop up the economy, giving out cash is another strategy to increase your customer base and push them to spend more. We see this from the Taiwan government giving out shopping vouchers that are equal to cash to its citizens to promote consumer spending. Economists believes that Asia should spend to push the economy out of the gloom.
I’m all for spending and stimulating the economy. And when I drop by the shopping centres in Singapore, the empty walkways / footpaths plus really great discounts make shopping such a great experience. But the truth is – now the fight is for consumers to open their wallets when in reality – most are keeping it very close to their pockets. Job losses, lack of jobs available – these are worrying times that do not encourage spending.
That was until I came across the Equatorial Hotel advertisement.
I love this great marketing strategy by a Malaysian hotel. It is really a fantastic idea - I’m thinking of packing my bags to go over this weekend.
Click here to continue reading