Given the costs of acquisition, brand marketers are shifting some resources to managing the lifetime value of their existing customers. By developing an ongoing relationship with their audience, brands can learn more about their customers both individually and as a group. This enables better targeting of content and offers and lowers the cost of conversion. By increasing the relevancy of ongoing brand interaction, more and longer-term relationships emerge, which keeps the brand top-of-mind and can even help drive desired behaviors. By progressively building a profile of their customers, brand marketers enable new opportunities for efficiently cross-selling and up-selling products to their existing audience.
A valuable side effect of establishing a deeper, richer relationship with your customers is that you enable them to share their brand enthusiasm within their social circle. While high-percentage viral campaigns are a wonderful jackpot to achieve, an ongoing 5-10 percent viral boost to your audience can add significant numbers over time.
Private and public facing widget platforms
There has been a tendency in the discussion of the evolving field of widget marketing to think of widgets as a single technology, and from a technical standpoint that is mostly true -- with light modification a widget can be made to run on a large number of different platforms. However, despite the technical similarities, there are different classes of widgets that are used in quite divergent ways.
These classes are:
- Public widget platforms
- Private widget platforms
- Public/private social media platforms
- Branded desktop applications.
Understanding the differences will enable you to reach your audience in the best way.
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