It's March, and all around we are seeing the noticeable impact of global warming, the UK is rapidly becoming a two season country; the wet and windy one and the not so wet and windy one... but what of the business and advertising world? Well two words – touchpoints and ethical marketing.
According to the DMA, it’s not uncommon for a company to lose 10% to 40% of its customers every year. As customer and prospect ‘touchpoints’ continue to grow at an exponential rate, it is essential that companies leverage the full potential from their brands, products and services.
Touchpoints are about taking the brand promise and making it real at every customer contact. The management of these touchpoints maximises the brand loyalty and value of the customer, reducing attrition.
Companies annually audit their financial records, spending thousands – but they rarely if ever audit their customer journey and, with this their, touchpoints. After spending hundreds, if not thousands, gaining the customer through various aquisition techniques from media to direct mail, from search marketing to email, the journey has ended... or has it?
PCD’s touchpoint audit provides a strategy and plan for improving the customer experience, weighting the effectiveness and ROI of each point while providing rationale for weighting of future interactive and offline activity. For more information on our touchpoint audit, visit www.pcdagency.com/touchpoints/landing.htm
What of ethical marketing in the last few weeks? M&S have announced ethical financial products, the CoOp Bank announced one of the best performing funds and by the day more FTSE companies are announcing their move to be carbon neutral. Its suddenly big business. So what does the consumer make of it? Confusion.
First, the consumer needs to understand what ethical marketing is. PCD’s perspective is that the FSA/ Government need to step in and make a standard definition.
The financial and retail sectors in particular need to have one voice, to define what ethical or socially responsible marketing is for the benefit of all – competitor and consumer alike. Only then will the consumer embrace ethical and socially responsible marketing and move it ,ore firmly in to the mainstream.
Ethical or socially responsible marketing is here to stay whether it's climate, investments or politics and will only become ever more prevalent as time goes on. One thing we can be assured of, it’s not a passing fad.
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