It's natural for any industry to undergo changes, but few industries have experienced as many rapid changes as the pharmaceutical and health care ones. To remain relevant among these digitally wired consumers, big pharmaceutical companies have adjusted, making visible efforts to grab the audience's attention through web and mobile presence.
If you, like most people, think we only experience marketing through our eyes and ears, think again! Have you ever walked into the fragrance section of a department store or duty free shop? Do you remember the last time you walked through the produce section of a grocery store? What about each time you open the door to your favourite coffee shop?
It's a common experience among many communications professionals: after helping an organization build its brand reputation during good times, we often see our efforts unravel the moment an economic downturn hits and senior management decides to cut spending on brand communications. It's understandable. But it's also a mistake, since difficult times are exactly when an organization should remain visible and emphasize its brand.
The explosion of emojis has changed texting and digital communications, but how useful are they in business? While some industries are waiting to see if this animated and emotional trend will blow over, retail marketers are embracing emojis as a new way to engage potential and repeat customers and increase sales.
For chain retailers, NFC can also be used to download information about product availability. If one store is out of stock, then it can provide a list of other stores within the vicinity that has the item in inventory. This increases the likelihood of customers immediately going to the same retailer in another location rather than potentially shopping at a competing store for the same product.
Being friendly doesn't mean sharing every secret or disregarding competition. After all -- you're both after customers in a crowded marketplace. Just realize that strategically aligning with the competition can make your business better. McDonald's needs Burger King; FedEx keeps UPS on its toes. Healthy business rivalries help stave off complacency and will make your company stronger in the long run.
Stats show that millennials prefer to use debit cards to credit cards for their purchases. Millennials are the first generation to grow up with debit cards, which may explain this pattern. Several findings prove that this generation isn't fond of credit products. The reasons for this may be many, but the top may be controlling spending and fear of debt. This lack and hesitance to use a credit card among millennials is causing them more harm than good in the long run.
When Apple Music, Spotify and Tidal launched, they were hailed as digital prophets that promised new ways to monetize the experience. Thus far, their solutions have fallen short of fireworks. Just slightly over a quarter of Spotify's 75 million active users actually pay for the service. And, as The Guardian UK reports, despite pulling in €1.08 bn in revenue, its losses were €162.3m. So why are all these promising platforms sinking?
There used be a great divide between the advertising and editorial departments of media outlets; they operated in separate silos and never the twain shall meet. But those days are gone. At the end of the day, the media is a business -- and it's a tough business. Revenues are drying up, falling year after year. It makes good business sense to leverage earned media opportunities with a paid advertising buy.