Thoughts, Musings & Insights from Your Team of Marketing Butlers
These days it seems like more and more products are not just purchased online but exist as a digital entity entirely.
In our last post on this topic, we discussed the ways in which trust, or lack-thereof, could cause some serious issues for your business in the eyes of behavioural economics. This is a pervasive issue facing consumers, 80% of consumers don’t know who to trust because of false advertising, fake news, and contradictory information
Trust is an important component of a functioning economy… and for your business. It might seem like a loosely-related concept given that we are often talking about transactions rather than favours from friends, but creating a brand and a business that your customers trust is critical to their loyalty.
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Let’s face it. Marketers have been known to tell a tall tale to get customers interested. A mismatch between what is promised and what is delivered can occur for a number of reasons. For example, in big companies, perhaps the marketing branch is out-of-touch with the design branch and the messaging doesn’t match the product functions.
Imagine you are going to a movie theatre and discover your pre-purchased $15 ticket is missing. What do you think you would do? Would you spend the money to buy a new one?
We’ve all done it. Clicked on that tantalising headline to see just who Brad was cheating on Angelina with or how to lose 20lbs in 5 days. What comes next is utterly and completely disappointing as the following pages are filled with adds, more links, and very little content. What do you get with clickbait? Mad. You get mad.
The Boston Consulting Group’s matrix (BCG) is designed to help your company look at its product portfolio and make better strategic choices. This tool helps businesses consider growth opportunities, consider where to invest or to discontinue products. Use this tool as a way to understand your company’s current positioning and where you can develop down the road.