For too long, marketing has remained the last great business function to be driven by gut feelings and random experimentation. In an effort to change this, Serfwerks has partnered with Sales Sigma Consulting to develop a longitudinal study to looking at various marketing and sales strategies and techniques. The study will help provide a body of data that marketers and sales professionals alike may use to make better decisions in regard to their sales & marketing practices. All are invited to participate in the survey.
Take the survey now.
Getting customers to respond to marketing efforts has been an age-old dilemma for all marketers. Many think that enticing customers with some sort of promotional offer or discount is the best way to spark customer interest or sales. There is no question the promotional offers can be effective for certain types of products or services. However, once promotional (money lost due to discounting) and actual (price of marketing the promotion) costs are combined in with the conditioning effect that can cause some customers to buy only when a product or service is on sale, the promotional offer can be far more expensive than you could have ever anticipated. Continue reading 'Response Rates v. Promotional Offers'»
Coupons can be an effective way to induce trial. They can introduce a new product, maintain/ increase market share, attract first-time users and increase brand awareness and switching[1]. A recent study showed that key grocery shoppers in larger, middle-income households are more likely to use coupons[2].
However, there are some serious drawbacks to the practice of couponing. First, coupons decrease top-line revenue by decreasing the amount of money collected by a business through some sort of discount. Continue reading 'Couponing'»
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