Be a commercial marketer: Start with Pricing
Want to be a more commercially driven marketer? Put pricing at the heart of your marketing strategy. Here I show you how.
30/01/2023
Want to be a more commercially driven marketer? Put pricing at the heart of your marketing strategy. Here I show you how.
A super example of what is known as ‘a marketing case study in years to come’. Tesco helps Aldi to gain brand salience.
Somewhere along the way marketers, agencies and ad-land lost our way when it comes to the balance of creativity and commerciality in advertising. Consumed by fanfare, awards and caught up in the notion that we are the ‘creative’, rather than the ‘growth’ department. Exacerbating this, often we create advertising that
Often marketers spend time measuring and reporting on things that don’t translate well in the boardroom. Here are the metrics that matter that will earn you credibility at a senior level. Measure and report on these.
Case in point, in order to run a profitable business you want the cost of acquiring your customer to be far lower than the total revenue a customer will generate for you. CAC < total revenue = 🥳 The reality is the revenue may take a while to accumulate, say
According to Les Binet, pricing is the most important ‘P’ in a recession. At the best of times I’m an annualised pricing fanboy 🙌 but in these tricky times I’m seriously all in 👣 on this approach for its recession-busting abilities for brands. It’s simple, offer a better deal than the
Say that Netflix spent $500 million in marketing last year and added 10 million subscribers. They might calculate the CAC as $500M / 10M = $50, and use that $50 CAC to plow more money into acquisition. But if a closer look reveals that 5 million of those subscribers were
One of the most important marketing metrics is the Cost of Acquiring a Customer or CAC, yet it wears a dark cloak. Read on for the most important watch-outs for marketers. 👀 Why is CAC it such an important metric? Well it demonstrates how good your marketing is at acquiring customers.
Year after year, retailers gear up for the bonanza, bumper and bonus sales they achieve on this single day. 😳 In a bid to calm the FOMO, they feel the need to have one-upmanship on their nearest rivals. Whilst, consumers seemingly love it and splash the cash on the deals.
60/40 40/60 80/20 20/80 To most, these numbers are pure gobbledygook but to a marketer they represent the most important equation: the balance between performance and brand based activities. Prevailing wisdom suggests a 60/40 split between brand and performance is optimal and is rarely contested. However, it is not as
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