Have you ever wondered what the top marketing executives are going to do for 2009 and how that will affect their advertising video budgets? According to a study by the Marketing Executives Networking Group and Anderson Analytics the trend for 2009 is going back to marketing 101 basics, customer satisfaction and customer retention. Acquiring new customers can cost five times more than satisfying and retaining current customers. If your company is looking at decreasing costs you might consider looking at your customer retention. A 2% increase in customer retention has the same affect as cutting cost by 10% according to the American Society for Quality.
How will this affect your advertising videos? Well for one you need to focus on internet videos that improve customer satisfaction and retention. In our company we will be making more informative how-to videos as a way to help customers answer some of their questions. We look at our emails and our Frequently Asked Questions (FAQ) and started answering their questions with video. The customers were delighted. They felt we were not just throwing up a quick answer but actually took the time to demonstrate the answer.
If you are a new business or a startup business then make sure you focus on what the customers want in 2009. Don’t be afraid to use video to market your business.
