by Chuck McKay | Aug 25, 2008 | Customer Focus, Retention, and Evangelism
For the last week, as we’ve discussed steps to cope with the Recession of 2008, we’ve assumed that the recession actually exists. But, what if you agree with Federal Reserve Chairman Ben Bernanke? The Chairman tells us that a recession, by definition, is...
by Chuck McKay | Aug 21, 2008 | Advertising 101, Budgeting, Pricing, and Return on Advertising Investment (ROAI), Customer Focus, Retention, and Evangelism, Publicity and Public Relations (PR)
This is a photo of a Boeing 747-200. This aircraft requires 219,000 foot pounds of thrust to get airborne, but only 100,000 foot pounds to cruise at altitude. Think of your ads as the jet engines which power your company. As soon as you remove the thrust, you’ve...
by Chuck McKay | Aug 20, 2008 | Customer Education, Expectations, and Motivation, Customer Focus, Retention, and Evangelism, Lifetime Customer Value (LCV)
How many times have we read that it costs 5 to 7 times as much to acquire a customer as it does to retain one? And yet, knowing that existing relationships are more profitable, we spend the majority of our planning and budget on new customer acquisition. Unless...
by Chuck McKay | Aug 19, 2008 | Advertising / Marketing Strategy, Customer Focus, Retention, and Evangelism
Concentrate on Business. At the base of the brain stem, in the primitive part of the human brain which controls breathing, sweating, blinking of the eyes, and other forms of involuntary action, is the amygdala. This tiny region of nerve cells is the part of the brain...
by Chuck McKay | Jul 25, 2008 | Customer Education, Expectations, and Motivation, Customer Focus, Retention, and Evangelism
Nine-year-old Lindsey, who’s visiting her grandmother and me, obviously has the entrepreneurial gene. She decided on Wednesday to open the classic American neighborhood business, the lemonade stand. I suspect there are a few retail marketing lessons every...
by Chuck McKay | Jun 23, 2008 | Advertising / Marketing Strategy, Budgeting, Pricing, and Return on Advertising Investment (ROAI), Customer Education, Expectations, and Motivation, Customer Focus, Retention, and Evangelism
Are you in retail? Have your sales been affected by gas prices? I just eavesdropped on a conversation between the managers of two local stores.* They both noted that store traffic has decreased, and the telephone is ringing much more consistently, since the price of...
