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Product: Commercial
Ismael Baqdounes
Mentor- Nazir Baqdounes
Teacher- Mrs. Click
ISM Multidisciplinary (Fall Semester)
*Some information in this presentation comes from outside sources.
Mentor Business
The chain of Eagle Inc. started in
1997. This is one of the buildings
where I observe my mentor
working, here they fix cars that
where in accidents. Other offices
that I visit with my mentor are in
Eagle Inc. storage lots, and Eagle
Inc. mechanic shop.
Project Topic
My project topic is customer satisfaction and advertisement.
It is about how as a business owner, should deal with customers and what ways too
attract more.
I choose it because I believe many people dont understand the importance of
customer satisfaction and advertising. There is so much competition now a days, that
if a business owner does not take the time to keep the customers happy and put his
business out in the community, everything will go down hill.
Business starts with the customer! Where else would the money come from?
Many companies have said that 80% of their revenue is from 20% if customers
Increasing customer retention by 5% can increase profits by 75%
A study by Info Quest found that a totally satisfied customer contributes 2.6 times
more revenue than a somewhat satisfied customer.
Furthermore, a totally satisfied customer contributes 14 times more revenue than
a somewhat dissatisfied customer. these are your loyal customers.
If there is tight competition in your area, it can be the difference between you and
your competitor and who gets more business.
According to the Harvard Business school, increasing customer retention rates by 5
percent increases profits by 25 percent to 95 percent.
Research
Considered as the marketing revolution of the 1970s, a sudden shift towards
customer satisfaction and marketing became the importance in business, and it has
held its ground to the saying, business starts with the customer. I mean where else
do they get their money?
It is often said that for most companies especially when they rely on customers only,
80% of their revenue comes from 20% of their customers.
Identifying these customers is the first step of creating professional relationships.
This will help maximize profits.
Customer knowledge is critical in customer retention, if they stay or not, because
companies can make highly personalized, one-to-one communication.
A good quality survey can give you valuable information to make more profitable
business decisions.
Work Backwards- Determine what data will assist in decisions a company would have
to make, then create questions that will connect to that data.
Research
An example would be numeric scale. Like 1-10. The scale needs to be defined clearly
and should be used for the whole survey, simplicity.
Only appropriate questions should be used for accurate responses and quick surveys.
Appropriate scales should be used. Satisfaction should be rated 1-5 so the business
knows easily the satisfaction.
Relevant questions only. Shorter surveys increase the accuracy of data so the
surveyor can be thoughtful and not be bored or tired. The survey should be no
longer than 8-12 min.
Increasing profits should be easy with base marketing, like cross sells, upsells, and
renewals.
It helps to avoid spending time and resources on trials with mistakes or using money
carelessly.
Research
Dissatisfied customers would likely tell about 9 or 10 other people about their
experience.
Around 4% actually complain to the company.
Satisfied customers tell around 5 to 6 people.
Responding in real time helps. Automated notifications to alert managers.
Respond negative or positive things personally. Maintain a good database of
customer knowledge and their history to provide personalized follow ups. Customers
complaining more than once is a big issue
All this information about customer satisfaction will help me to make an actual
survey along with stress its importance and show its impact.
Research
Customer Satisfaction provides business owners with a way to manage and improve their business.
Its a leading indicator of consumer repurchase intentions and loyalty- a good strategy is to have a
customer rating system. Like 1-10. 1-5 is mediocre, 6-7 is satisfied and 8-10 is great service.
Its a point of differentiation- Can be the difference between competition between one business and
another.
It reduces customer churn- Keep customers loyal and save money by not having to advertise as much.
It increases customer lifetime value- or CLV. Makes more revenue in the long run. Because you
anywhere between 5- whatever customers is equal to one CLV in the automotive business.
It reduces negative word of mouth- 13% of unhappy customers tell over 20 people about their
experience, in most cases. That is especially bad for the automotive business, considering it is fairly
local.
Its cheaper to retain customers than acquire new ones-It costs six to seven times more to attain new
customers then to keep your old ones. No advertising needed or complicated scenarios, more time on
phone about location, prices, etc.
using blogs to inform and educate customers, using emails to send special promotions, using surveys to
gain Intel for improvement, and delighting customers with personal experiences and professionalism.
Research
Research
A study by the Corporate Executive Board that included 7,000 consumers from
across the U.S. found that of those consumers who said they had a strong
relationship with a brand, 64 percent cited shared values as the primary reason.
Use positive social proof, like follow on twitter or like on Facebook.
Implicit Egotism! People like things that resemble them in some way, make message
that matches their pains, goals, and aspirations.
Use words that they want to hear like, free, instantly, and new.
George Lowenstein of Carnegie Mellon University recommends using bundles,
reassuring words (e.g., change a $5 fee to a small $5 fee), and reframing as
strategies to better sell to these conservative buyers.
Go above and beyond for certain customers if needed
Give back to customers, help them fit their budget at some points
Research
Price for different advertisements will need to go into account for a business
Most business that are local just have billboards and internet websites or
social media
Commercial are used when a business grows to a wider area
Every business should deduce whether they are receiving more customers
with each
advertisement
Many businesses are increasing their budget on marketing
A budget list will help a business make the most out of the money they have
Research
Putting people in your commercial will connect to the audience and make everything
more interesting then just 30 seconds of business anterior
Use audio and video that matches
Appeal to emotions, logics, and morals
Inform visitors to visit today!
Give complete contact information including website address, address of business,
also include directions if needed
Keep you commercial consistent: Use the same announcer, jingle, fonts, colors, etc
Humor makes your commercial stand out
Product
https://www.youtube.com/watch?v=Te-BEDEI4yY
Thank You!
First off, I want to thank my mentor, Nazir Baqdounes for all the time and effort he
has given me this semester.
I also want to thank my graders and evaluators, my teacher, Mrs. Click, my parents,
and my fellow class mates who helped me with the project.
Works Cited
"Convince and Convert: Social Media Strategy and Content Marketing
Strategy." Convince and Convert Social Media Strategy and Content Marketing
Strategy. N.p., n.d. Web. 31 Oct. 2014.
The Importance of Marketing: 10 Reasons You Cant Afford to Market Your
Business Udemy Blog. N.p., n.d. Web. 30 Oct. 2014.
"Why Customer Satisfaction Is Important (6 Reasons)." Client Heartbeat Blog. N.p.,
n.d. Web. 21 Oct. 2014.
"Why Customer Satisfaction Matters." Customer Satisfaction Matters. N.p., n.d. Web.
23 Oct. 2014.
10 Essentials Elements to a Great TV Commercial. About. N.p., n.d. Web. 31 Oct.
2014.