My Favorites of March: Stickiness to Uber, Good Relationships & Customer Lifetime Value
Just 6 links to articles and videos this month, mostly on digital marketing strategy, but also this great TED talk on happiness across generations and social classes. Robert Waldinger is heading this incredible study – still underway – which tries to identify the most solid predictor of human happiness. In typical TED talk fashion – thank God because academic discourse would have been less exhilarating – he outlines a couple of findings worth having in mind. The best is that his recipes are available to all of us. I hope you’ll find it as useful as I did.
Don’t look at the visual ; the title is important. This Digiday article addresses one of my favorite media brand’s customer acquisition strategy. In short : give away some of the content for free in order to hook interest of possible paying customers, and spread snippets of content to hook interest through social media. “We’re constantly debating how much content to give away [and] we are generous; we work hard to distribute content on many platforms to give a flavor,” says The Economist’s CMO and managing director of circulation.
The Economist gives away some content for free and spreads content through social media
Why would Uber be at risk ? The company has had bad press recently, but this doesn’t destroy a company with a sound value proposition (a technology, a loyal & satisfied customer base, a brand…). Uber has a brand, a great one, and many users which are acquired at very high cost. But what makes Uber fragile is the fact that there is very little switching cost, mainly because competitors do similarly well. Newsweek writes: “There is no stickiness to Uber. […] No one gets a heightened sense of self by identifying as an Uber rider versus some competitor. We’ll stick with Uber as long as it continues to get us where we want to go at a price we like. Someone else comes along with a better service or lower price, we’ll use it.”
What makes Uber fragile is that there is very little switching cost, mainly because competitors do similarly well
These are just 12 minutes, but very inspiring ones. This TED talk addresses what many of us are looking for: happiness. So what keeps us happy and healthy as we go through life? According to psychiatrist Robert Waldinger, researcher at Harvard who directs a 75-year-old study on adult development, shares 3 important lessons as well as some practical wisdom on how to build a fulfilling, long life. Answer: good relationships!
Professor Waldinger on how to build a fulfilling life: good relationships!
“There may never have been an interior style quite as lavish as 18th-century France—a look that allows for deep, curvy marble chimney-pieces, chairs covered in gilding […] but French can always be counted on to say “money” faster and louder than the subtler English antique look.” Politico publishes a tribune by Peter York, author of Dictator Style: Lifestyles of the World’s Most Colorful Despots, who explains why the US President’s aesthetic tastes are totally so “out of line” with the US as it is today and most of the citizen who voted for him. And you see that Politico (left-wing publication) finds another way to compare Trump with dictatorship.
Politico describes the US President’s aesthetic tastes, explains why it’s out of line with the US today
This is revealing, as much as I barely believe it to be true. Not the lady, but the content of the article. In this Campaign article, US-based lingerie retailer Cosabella explains (or has allowed its vendor Adgorithms to explain) how it replaced its digital agency with an “artificial intelligence” that “has more than tripled its ROI and increased its customer base by 30%.” It’s likely to be a vendor which communicates on a proof-of-concept through a case study (correct me if I’m wrong!) but it is a truly great one. Even the digital marketer in my team was baffled. Very interesting case.
It’s likely to be a vendor communicating through a case study but it is a truly great one.
A basic in marketing and business management, but a very clear one. “How much is a customer worth to you? This tiny little question will define how much you spend on marketing, the types of customers you can reach, and how much money your business makes. It’s pretty damn important,” Rocketshp’s Kevin Wood writes. It’s sometimes good to have crystal-clear, crisp, actionable tips to help you in your job.
This will define how much you spend on marketing, and how much money your business makes.
Have a great week-end !