Financial Services Marketing Insights: A Marketing Compass

Written by Jay Nagdeman


Continued from page 1

Focusing onrepparttar Customer

Peter Drucker, a sage ofrepparttar 120196 financial marketing discipline, discussed customer defined value almost 50 years ago. Duringrepparttar 120197 last decade his concept of a customer-centric focus has become part of popular marketing literature and is nowrepparttar 120198 guiding principle of financial marketing. Drucker’s fundamental mandate that ‘the customer’s interests must come first’ can be summarized byrepparttar 120199 following statements paraphrased from his extensive writings: * The only valid definition of business purpose is to create a customer. * Whatrepparttar 120200 business thinks it is producing is not as important as what customers think they are buying; what customers consider to be value is decisive. * Every business has only two basic functions: marketing and innovation. * Marketing is your whole business as seen fromrepparttar 120201 customer’s point of view.

While easy to articulate, customer-centric practices are difficult to implement in most financial services organizations. Obstacles include a prevailing product-push mentality, a focus on short-term profitability, under-investment in financial marketing activities, andrepparttar 120202 lack of solid market intelligence aboutrepparttar 120203 needs and wants of target markets. We believe, however, that inrepparttar 120204 futurerepparttar 120205 most successful financial services marketing organizations will be those that make Drucker’s principles their own through extrapolation, adaptation and creative application. As effective financial marketing evolves to a cross-functional, multi-disciplinary activity, successful firms will create a culture of customer orientation throughoutrepparttar 120206 organization and incorporate advocacy for customer welfare in all corporate decision-making.

Withrepparttar 120207 financial services industry currently going through a transformation, management’s challenge is to providerepparttar 120208 leadership to displacerepparttar 120209 status quo and create a culture of opportunity. Early adaptors who applyrepparttar 120210 concept of “integrated marketing” on an organization-wide basis will not only develop a customer-orientated culture, but also create opportunities for innovation, improved performance and incremental profitability.

Mr. Jay Nagdeman is the Founder and President of Suasion Resources. Mr. Nagdeman has served as Director of Marketing in financial services firms, as a contributing editor for Barron’s and has taught at the business school of the University of Chicago. Copyright © 2004 Suasion Resources Inc. All rights reserved. For additional information, please visit us online at www.suasionresources.com.


Stretch Your Marketing Reach

Written by Kathleen Gage


Continued from page 1

Second, have others write articles for you. Many people are anxious to write for online newsletters.

Third, a quick Internet search is bound to produce several places you can access articles that are there forrepparttar taking. Usually,repparttar 120195 only requirement is that you give full credit torepparttar 120196 authors.

Because I love to write so much I prefer to write my own articles. And yet, if ever in a pinch, I know there are many options.

Here are some examples of well done E-Zines. Each has produced excellent results for name recognition, promotion opportunities and back end business. Notice all have a place to leave an email address. I highly recommend this in that this helps you to build a solid database of interested readers.

http://www.justbearsandstuff.com/newsletter/newsoctober2004.htm

http://www.greatsmilesutah.com/october-04.htm

http://www.kathleengage.com/newsletters/enewsoctober2004.htm

In my experience, I have found E-Zines, when sent to people who want them, are one ofrepparttar 120197 most incredible marketing tools you can use.

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Kathleen Gage is a business advisor, keynote speaker and trainer who helps others gain dominance and visibility within their market. She is the recipient of the 2004 Giant Step Award for Business of the Year in the State of Uta. Visit www.kathleengage.co


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