There's nothing that they should stop immediately. But there are a few things that I'm concerned are over invested. One of them is chasing new customers as opposed to really taking advantage of your existing customer base. Can you generate growth from your existing customer base because that tends to be easier and therefore more effective than chasing new customers? The second one is be careful about sales promotions. They're wonderful in the short term. And if you have unsold inventory that you need to get rid of, fine. But if you turn that into a habit, then you really erode the value of the brand. And we've seen that, for example, in the luxury sector. The the third thing is there's still so much advertising that's a waste. And we see that in our studies. You must monitor the effectiveness carefully and don't be afraid to go dark from time-to-time. Determine how much business you generate automatically without any additional efforts, and you can do that in an experimental setting in one market. Continuously test to determine what spending is really, really necessary.
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There's nothing that they
There's nothing that they should stop immediately. But there are a few things that I'm concerned are over invested. One of them is chasing new customers as opposed to really taking advantage of your existing customer base. Can you generate growth from your existing customer base because that tends to be easier and therefore more effective than chasing new customers? The second one is be careful about sales promotions. They're wonderful in the short term. And if you have unsold inventory that you need to get rid of, fine. But if you turn that into a habit, then you really erode the value of the brand. And we've seen that, for example, in the luxury sector. The the third thing is there's still so much advertising that's a waste. And we see that in our studies. You must monitor the effectiveness carefully and don't be afraid to go dark from time-to-time. Determine how much business you generate automatically without any additional efforts, and you can do that in an experimental setting in one market. Continuously test to determine what spending is really, really necessary.
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