Tagged: Marketing ROI


400FiscalDoctor ActionAbout Gary W Patterson

Gary W. Patterson, president &  CEO of FiscalDoctor®, works internationally with leaders who want to spotlight  million dollar blind spots with 20/20 vision so that they can make the best  business decisions possible. Take advantage of his free fiscal quiz at www.fiscaldoctor.com and all the resources he's made  available at his book website, www.MillionDollarBlindspots.com.

 

Raising average revenue per customer depends on making products and services that people want to keep on buying. As a marketing leader, that is obvious to you. There are lots of ways to retain customers, but many of them are difficult and expensive. What if your Board has asked you to save money, and contribute to a larger bottom line?

Here are the FiscalDoctor’s favorite 7 low-cost “secret tips”:

Tip 1: Know what your customers want
This step is often overlooked or approached improperly. Find out what your customers really want. Don’t just trust that they’ll tell you the full story in a feedback form (they often ignore those or throw them in the trash). Invest in an outside interviewer to help you discover their true sentiments and desires.

Last month, the Fornaise Marketing Group surveyed 1,200 CEOs from small and large businesses.The results were sobering for CMOs.

Their interviews revealed that 74 per cent of the executives surveyed believe that marketers misuse the real definition of "performance," "return on investment," and "results."

In spite of the reported success of Revenue Performance Management solutions and longer CMO tenures (at least according to Spencer Stuart's recent study, which says that CMO tenure now averages 42 months), C-suite satisfaction with the marketing organization is not growing at the same rate.

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