Most business owners know the average purchase amount they get from their customers (amount of sales divided by the number of purchases), but few bother to understand how much value customers give over the lifetime of their relationship with the company. Advertising and marketing is vital to the growth of any company, but knowing how much a customer is likely to spend while they’re doing business with you is important for setting the proper budgets (and expectations).
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Marketing
Review: Real-time Social Media Monitoring with Social Mention
Keeping up on what’s being said about a company or brand can be difficult with so many different channels. It’s even more challenging when people expect real-time responses via social media to problems and issues. A lack of response when there’s a problem can be more harmful than the problem. Social Mention makes it easy to monitor, not only what’s being said, but also who is saying and what the general sentiment is towards the company or brand.
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Blogging in a Vacuum
I had a meeting with a client yesterday who was getting very discouraged because he hadn’t yet received any comments on his blog. His discouragement meant that he wasn’t blogging as often as he should because he wasn’t seeing the value in it. Unfortunately, this sporadic blogging can lead to a downward spiral which will lead to a self-fulfilling failure. While blogging at first can feel like you’re talking to yourself, patience and dedication almost always pay off.
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