Big D*, aka Michael Donahue continues his efforts to get companies to lean in hard on understanding and then focusing more on their most profitable users aka their brand loyalists.
This rising tide will lift all companies who do the following:
1) Identify their brand loyalists via accessing the massive first party data now available,
2) Get insights from the analysis of first party data so companies do not price promote against their profitable users because these loyalists like companies so much they always pay full price for brands.
3) My MediaVillage blogs, posted 2023 and 2024 year to date, are all about the critical importance of understanding WHY companies most profitable users are brand loyalists.
Some Examples:
a) Brand users of experiential marketing, influencer marketing, purpose branding, and e-commerce very much like, even love, their brands …and first party data is available to marketers from all these brand loyalists.
Note: Marketers now can differentiate between brand loyalists and brand occasionalists who buy only at retail reduced prices …because retailers are now selling all their first party buying data to marketers.
b) Black and Latino young executives can mentor their white mentors on what their company needs to know about these diverse communities so the companies can lean in hard to get these communities to like their companies more, so they buy more often and at full price.
Final Note: Profitable users in a company account for as little as 10% of total brand sales but they also account for over 50% of PROFITABLE sales.
*Big D, aka Michael Donahue, new book titled: Tall Tales, in Short Form by 6 Foot 6 Inches is available at Amazon and Barnes & Noble. Michael Donahue Amazon's website posted multiple reviews of the book.
Posted at MediaVillage through the Thought Leadership self-publishing platform.
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The opinions expressed here are the author's views and do not necessarily represent the views of MediaVillage.org/MyersBizNet.