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How More Customer Contact Creates a More Energetic, Motivated and United Workforce

Idea posted: October 2019
  • Leadership & Change
  • Learning & Behaviour
  • Marketing

Inspiring the human desire to help others, customer contact sparks the collective energy of employees, leading to better company performance. Transformational leadership is vital, however, to capture the benefits of customer contact.

Idea #751
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B2B Companies Far Behind on Social Media Strategies

Idea posted: August 2019
  • Strategy
  • Innovation & Entrepreneurship
  • Marketing

While for B2C companies, using social media to acquire and exchange knowledge with customers and internally is all the rage, new research reveals that many B2B companies fail to see the potential of social media – and even when some managers see the potential, the company fails to provide support for social media initiatives.

Idea #747
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When Customer Referral Programs Backfire

Idea posted: July 2019
  • Marketing

A new study reveals that customer referral programs can sometimes backfire: customers are less likely to recommend innovative products when they are rewarded for finding new customers. The study explores the reasons for this surprising negative impact.

Idea #745
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Why Gender Differences in Shopping Styles Are Stronger than National Differences

Idea posted: July 2019
  • Marketing

A study of consumers in 10 countries supports the view that gender differences in shopping styles have evolutionary, not socio–cultural, roots. At the same time, the study’s authors argue that national culture characteristics can increase the effect of evolution–driven consumer behaviours. The implication for international marketers is to segment customers based on hard–wired evolutionary traits and national cultural influences. 

Idea #746
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Existing Customers and Home Markets Drive Growth

Idea posted: June 2019
  • Strategy
  • Marketing

The biannual Duke Fuqua CMO survey highlights growth strategies that are inward-focused, as well as incorporating the strengthening of marketing capabilities, a significant increase in strategic channel partnerships, continued growth in social media spending, and the continuing emergence of AI.

Idea #741
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The Benefit of Blockchain Loyalty Programs

Idea posted: November 2018
  • Marketing

A review of the different types of traditional loyalty programs, the challenges associated with those programs, and the potential benefits of blockchain-driven programs reveals the benefit of adapting blockchain technology to loyalty programs. 

Idea #719
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Image by Mohamed Hassan on Pixabay

The Relationship of Brand Equity to Behavioural Loyalty

Idea posted: May 2018
  • Marketing

While higher brand equity products will attract greater loyalty from their customers, new research reveals different ways to strengthen the relationship between equity and loyalty. Such efforts to strengthen the link are worthwhile since the relationship does not always hold true. One customer segment, the study shows, perceives a brand’s equity as high but is not loyal — and surprisingly another segment perceives a brand’s equity as low but still remains loyal.

Idea #704
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Matching the Creativity Supply Side to Your Marketing Demand

Idea posted: April 2018
  • Innovation & Entrepreneurship
  • Marketing

A team of researchers offers a framework to help organizations support creativity more effectively. Elements of this framework including balancing the usefulness and originality of creative ideas depending on the organization’s needs and choosing the best approach to creative ideas: 1) focusing on the sheer quantity of new ideas, 2) exploring the potential of a category, or 3) looking for creative ideas across categories.

Idea #700
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Consumers Reject New Products To Stay In Control

Idea posted: April 2018
  • Learning & Behaviour
  • Marketing

A recent study confirms that consumers’ desire for control over their lives can act as a psychological barrier to the acceptance of new or innovative products. However, framing a new product as increasing consumer control can eliminate this barrier.

Idea #701
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Is Paid Search Advertising Worth the Money?

Idea posted: April 2018
  • Marketing

Is branded paid advertising worth the money? A 2015 study based on eBay traffic said no: prospects using brand name searches will find their way to the website, with or without paid ads to lead them. A new study, however, using a brand that is not one of the largest in the world, shows a different result: about half of the customers are lost. 

Idea #695
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CMO Survey: Value of Company Spending on Social Media

Idea posted: March 2018
  • Marketing

While digital age marketing channels such as social media marketing and mobile marketing has captured the public’s attention, the view from the Chief Marketing Officer’s desk is more measured, according to a new survey of marketing leaders in the U.S. Social media marketing continues to grab more and more of the marketing budget, for example, but measuring its impact on the bottom line remains elusive.

Idea #697
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The Boy in the Red Vest (detail) Cezanne c-1890 (Courtesy: Foundation E.G. Bührle, Zurich)

The Good, Bad and Ugly of Covert Marketing

Idea posted: March 2018
  • Marketing

With traditional marketing losing its impact in today’s overcrowded marketplaces, marketers are developing creative covert campaigns to create buzz around their products. Sometimes, however, these covert campaigns can backfire. 

Idea #694
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Why Promotions Work Better for Luxury and Hedonic Purchases

Idea posted: March 2018
  • Marketing

New research reveals that promotions are more effective with luxury and hedonic products (think Godiva chocolates or that vacation by the sea) than for more utilitarian products. The reason: they help reduce consumer guilt about the purchase. 

Idea #693
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How User Reviews Replace Advertising

Idea posted: February 2018
  • Marketing

Reflecting the impact of customer review sites, new research shows that independent hotels are adjusting their advertising spending based on reader reviews — the better the reviews, the less they spend. 

Idea #692
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Contradictory Attitudes of Consumers to Bundling

Idea posted: February 2018
  • Marketing

The benefit to companies of bundling products and services is complicated. Consumers will demand more compensation and feel greater dissatisfaction if a component is missing from a bundle than if it is missing in isolation. However, consumers will be willing to pay less for an item added to a bundle (and derive less satisfaction from that item) compared to the same item purchased separately.

Idea #690
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Who’s Influencing Your Stakeholders?

Idea posted: February 2018
  • Marketing
  • Operations
Institutions: Henley Business School

Third party influence can have a major impact on a company’s reputation. By replacing the traditional company-centric communication strategy, a new stakeholder-centric Channel Strategy Model helps companies understand stakeholder perspectives that are outside the companies’ sphere of experience — and opens up new avenues of indirect communication.

Idea #691
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Louis Vuitton store, HK Landmark, Hong Kong (Source: Wikimedia Commons)

How Practical Features Sell Luxury Products

Idea posted: January 2018
  • Learning & Behaviour
  • Marketing

New research reveals that buyers of hedonistic, luxurious products often feel guilty about their indulgent purchase — but that bundling even a small utilitarian feature with the product can assuage this guilt and make consumers more likely to buy and increase willingness to pay.

Idea #687
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St George Kills the Dragon, Edward Burne-Jones, 1866 (Courtesy: Art Gallery of New South Wales)

How to Make and Keep Customers Grateful

Idea posted: January 2018
  • Strategy
  • Innovation & Entrepreneurship
  • Marketing

Forget discounts. Customers perceiving a genuine effort by companies to invest in the customer relationship will feel grateful toward the company — an emotion that leads to overall (and longer lasting) customer satisfaction.

 

Idea #688
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Kalfafell Iceland. Photo by Gian Reto Tarntzer on Unsplash

How Linear Thinking in a Non-Linear World Leads to Wrong Decisions

Idea posted: December 2017
  • Learning & Behaviour
  • Marketing

Our brains prefer to think in straight lines: if one bag of oranges costs $5, then two bags cost $10 and three cost $15. However, this bias toward linear thinking often traps unwary business decision-makers who fail to recognize the non-linear relationships they are dealing with (e.g. increasing retention rates from 10% to 30% or from 60% to 80% does not have an equal 20% impact on customer lifetime value).

Idea #685
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Photo by Jenna Day (Source: Unsplash)

Brain Drain: How Cell Phones Distract Customer Attention

Idea posted: July 2017
  • Learning & Behaviour
  • Marketing

Cell phones are distracting, pulling our attention away from our current tasks and activities. New research reveals that the mere presence of the phones, even when they are turned off and we are consciously focusing our attention on another task, is enough to reduce our thinking capacity.

Idea #665
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Photo by Dogancan Ozturan (Source: Unsplash)

How CRM Reaches Customers' Social Networks

Idea posted: June 2017
  • Marketing

Marketers may be underestimating the impact of their marketing campaigns, which, a new study shows, impacts not only the target customers, but also the social connections of those customers.

 

Idea #660
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Smileyes (Source: Wikimedia Commons)

How a Happy Face Sticker Improves Perception of the Customer Service Experience

Idea posted: May 2017
  • Marketing

A supraliminal prime as simple as a happy face sticker on a receipt can induce customers to be more satisfied with the service they have received.

Idea #655
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Shopping for hats in London,1942 (Source: Wikimedia Commons)

What ‘First Impression’ Data Reveals About Customers

Idea posted: April 2017
  • Marketing

Companies can form a ‘first impression’ of a customer based on the information collected during a customer’s first transaction with a company. This first impression data can help companies predict how often new customers will purchase in the future and how much money they will spend on each transaction. It can also help companies target their marketing campaigns more effectively.

Idea #651
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Why Customers Put Up With Rude Luxury Shop Assistants

Idea posted: December 2016
  • Marketing

Surprisingly, retail rejection (customers greeted with unfriendly sales staff in luxury stores, for example) can increase brand image in the eyes of ‘rejected’ consumers, thus increasing sales in the short term. In the long term, however, consumers will resent the rejection, and the brand pays the price.

Idea #640
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Mary Barra, CEO and Chairperson of General Motors. The first female CEO of a global automaker

New Female CEOs: Quiet Media Coverage Avoids Negative Market Reaction

Idea posted: November 2016
  • CSR & Governance
  • Leadership & Change
  • Marketing

Research proves the many benefits and advantages of female CEOs, yet markets continue to punish companies for choosing a woman as CEO. A new study shows that individual investor bias is not the problem; instead, the fear of bias in other investors causes markets to react unfavourably. 

Idea #630
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Official U.S. Navy Imagery – a sailor presents his girlfriend with an engagement ring (Source: Wikimedia Commons)

The Competitive Implications of Customer Expectation

Idea posted: July 2016
  • Strategy
  • Marketing

Past research has shown that products and services that don’t fit specific market categories are more likely to fail in the marketplace. A new study demonstrates that even a product with all the attributes of its category can fail. To truly understand the competitive dynamics of its market, a company needs to look beyond categories, and focus on the customer expectations that underlie those categories. 

Idea #612
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Varied Effectiveness of Paid Endorsements on Social Media

Idea posted: April 2016
  • Marketing

New research reveals the potential benefits and pitfalls of including paid social media endorsers in new marketing efforts. The research notably revealed that paid endorsers are either eager to participate or very effective — but rarely both.

Idea #599
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Plastic face protection from snowstorms. Canada, 1939 (Source: Wikimedia Commons)

Why Great New Products Fail

Idea posted: April 2016
  • Innovation & Entrepreneurship
  • Marketing

Many excellent new products fail because companies fail to understand how customers make their purchasing decisions. Specifically, customers decide what they want to buy based on one of two things: their search for new information or the inferences they make based on the information they have. Great new products fail when through their searches or inferences, customers fail to recognize their value.

Idea #601
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System change not climate change', 2009, UN climate talks in Copenhagen. Photo: kris krüg via Flickr (CC BY-NC-ND).

How Social Movements Spark Corporate Social Responsibility Initiatives

Idea posted: April 2016
  • CSR & Governance
  • Marketing
  • Operations

Social movements change society’s expectations of a company, as well as influence the thinking and values of individuals in that company. Under ideological pressure from diverse categories of external and internal stakeholders, the company responds with a corporate social responsibility agenda. 

Idea #603
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When Customers Can See More Cost than Benefit in CSR

Idea posted: March 2016
  • CSR & Governance
  • Marketing

Companies should not assume that all customers see the benefit in corporate social responsibility. Some focus on the costs — and are concerned that unfair prices are being used to finance CSR. 

Idea #591
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