Key Insights from Digital Summit

I covered the Digital Summit Series in New York City this past Wednesday and Thursday. The Digital Summit Series provides attendees with comprehensive workshops on Digital Marketing that are conducted by speakers from leading brands along with industry through leaders. Topics ranged from Content, Email,Search, Mobile, UX Design, Social and Strategy. Attendees were also able to network with other attendees. I learned so much over these two days. Here are some of the highlights.

Stacy Minero delivered the keynote on Day One of Digital Summit entitled the Craft of Content in which she show how Brands can make an impact using Content.

1. Key takeaways were that Consumers want Brands to talk with them and not at them.

2. Consumers want Brands to take a stance on Social Issues.

3. Consumers expect Brands to solve social problems.

4. 89% of Content is not noticed at all

5. 40% of Consumers are more likely to respond to brands who respond to them

6. The old world started with Storyboards and TV now The new world starts with the customer and canvas.

7. Examples of Brands Creating Great Content include Heinz with the #MayoChup campaign and HBO with with its promotion of the digital streaming of Sopranos.

8. Before posting content Brands need to ask if the content they create is memorable or meaningful.

The keynote gave me a lot to think about.

Seth Godin gave the keynote entitled This is Marketing on Day two. In the keynote Seth covered many great points on Marketing from his book This is Marketing.

  1. Marketers make change Happen.
  2. Pick Yourself.
  3. Tell a story that resonates with the people you seek to serve.
  4. Pick the Smallest Most Viable Audience or Most Viable Market
  5. Marketing is not advertising anymore
  6. Television is about Mass Marketing and the Internet is a micro-medium

Seth also had an interactive Q & A session. He had a Poke the Box style Mic with the caption Catch the box; which he randomly tossed in the audience prompting them to to ask questions.

I really enjoyed the talk.

Other sessions that I enjoyed were on the topics of improving: Email Marketing, Marketing Workflow, B2B Marketing and Video Marketing. Pictures of these slides will be posted to Instagram.

If you want to attend in your city, click here for more information.

Did you attend Digital Summit? What are your thoughts?

Comment below.

Bonus Content

Why Inbound Marketing Should Not Take a Back Seat to Current Customers

Inbound Marketing is a valuable strategy businesses can use to obtain new customers. Inbound Marketing is defined as Marketing based on getting found by customers. It’s customer-centric. With Inbound Marketing, businesses create customer-centric content based on customers needs. Content could take the form of blogs, videos & SEO.

In a prior article, I outline the 4 Steps which are Attract, Concert, Close and Delight. 

image via hubspot.com/inbound-marketing

Why Inbound Marketing should not take a back seat to Current Customers

Recently, I read an article that advocated that Inbound Marketing should take a backseat to your current customers. While it is less expensive to keep, nurture and up-sell/cross-sell current customers, businesses need to always be on the hunt for new customers. Despite the fact that it costs 5 times the amount to acquire a new customer verses keeping an existing one, it is an expense that businesses need to take on.

This is because businesses will always lose a portion of their customer base for a variety of reasons as seen in this graph.

image via http://www.superoffice.de/blog-de/kundenpflege/

According to Marketing at Work, the average business loses about 10 to 25 percent of its customer base every year. 

What happens if businesses start Ignoring customer acquisition?

  •  If a business loses 25 percent of its customer base it will have no customers after 4 years
  • At a 10 percent loss rate it will have no customers after 10 years

Through great service, word of mouth, & customer referrals; businesses may be able to extend their life. This then becomes an issue of how fast they can replace the lost customers. Relying on these methods alone puts undo pressure on customers and they may get turned off by being constantly asked to refer people. This may result in more customer turnover.

The Solution

As we have seen, focusing only on customer acquisition and customer retention is a losing game.

Done right, Inbound Marketing should be combined with Content Marketing because current customers still need to be nurtured after the sale. Businesses can only expect referrals and repeat business if customers:

  • Feel valued & receive great service

Businesses can apply the principles of Inbound Marketing for customer retention in the following ways:

1. Create Blog content Specifically for customers

  • Supply customers with exclusive access to blog content with useful tips and tricks for customers to get the most out their purchase.
  • Offer customers discounts
  •  Make reordering easy
  • Make customers feel like insiders.

2. Get customers to opt into user specific content via email

  • Ask customers for this commitment right when they sign up and commit
  • Make sure to create valuable content as customer attention is a gift
  • Remember that the customer defines value

3. Create Communities such as exclusive user groups 

  • Groups can be created on Social Networks such as Facebook, LinkedIn and specialized forums on a company site.
  • Use these groups to share content and invitations to customer only events.

4. Create free industry trends sites that don’t sell anything

  • This is a great way businesses can position themselves as a resource
  • These sites can be shared with both current customers and prospects.
  • Adobe does a great job with their CMO.com site which provides content and insights to CMO’s and marketing professions.

How have you used Inbound Marketing for customer retention? Share and comment.

Related articles

Inbound 101

Customer Marketing: What We Can Learn from Actors

Ways to Create & Execute an Organic Digital Marketing Strategy for Lead Gen

How to Integrate a Blog into an Inbound Marketing Strategy

About the Author

Dan is passionate about using Marketing to help businesses drive sales. He has worked on various marketing assignments that include a Start Up, Political Campaign & a Digital Marketing Conference.

Prior to Teaching, Dan served customers as an Outside Sales & Marketing Representative in the Dental industry. In this role, he taught and trained Dentists on the  company’s products and services using a consultative selling approach. He also supported the company’s marketing efforts at industry trade shows & in the field through lead generation of Digital Technology along with large Dental Equipment.

He writes and publish a business blog on the topics of Sales, Marketing & Social Media entitled Sales, Marketing & Social Media Today.

Dan is seeking a full time marketing role in New York City. He is interested in roles in Direct, Digital, Content & Social Media Marketing. If your company is hiring for roles in these areas, contact him directly via a free LinkedIn Message or email him at Dan@DanGalante.com to set up interviews.

 

 

 

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