Story #1: Brookstone performance was in the tank in 2008 --- no shame in that, the economy hurt many folks. Recall the marketing blitz employed by the Brookstone/Abacus alliance? You don't hear much from the PR folks these days, given that catalog customer acquisition is going through a death spiral. And that's ok ... now we can have discussions that are more honest in nature, with co-ops as partners, not saviors.
Story #2: Microsoft goes into retail. Hint to direct marketers looking to expand via retail ... .not every story ends up being a fairy tale (Apple). Direct is a skillset not understood be retailers. Retail is a skillset not understood by direct merchants. Ask Coldwater Creek if they're enjoying the retal ride they initiated earlier this decade?
Story #3: Direct Marketing. I'm speaking to a group of MBA grad students, about 25 folks age 22-35. I asked for a show of hands, how many folks purchased because a catalog was mailed to them in the past year? Answer = 2. I asked for a show of hands, how many folks purchased because a e-mail campaign was sent to them in the past year? Answer = 4, 2 folks say it was an Amazon e-mail that caused the purchase. I asked for a show of hands, how many folks purchased via e-commerce in the past year? Answer = 25 of 25. The future of direct marketing is not e-mail marketing and cataloging. We need to change at a rate that is at least as fast as our customers are changing.
Helping CEOs Understand How Customers Interact With Advertising, Products, Brands, and Channels
February 22, 2009
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Amen brother - this is a huge advantage for us young, small aggressive companies. Leadership at the large companies does not turn over as fast and the environment in which they operate. This lag is our opportunity.ReplyDelete