RJM is a big believer in the saying “What gets measured gets managed”. When it gets down to tracking a company’s success, too many businesses tend to rely on market share, profitability, EPS growth or repeat purchases only. Don’t get us wrong, you still need to track these down, but ask yourself: “Does the number of repeat sales indicate that your customer is loyal?”
Customer experience is one if not the main ingredient of customer loyalty which translates into market share — as loyal customers are the best brand advocates, profitability and EPS growth i.e. the way most businesses would define success.
If you’re still in doubt, take the soft drink business as an example. Pepsico has recently created Pepsi Pulse and Pepsi Sound Off , platforms used to cultivate social conversations with experiences. Pepsi’s newest commercial starring Sofia Vergara in “Nothing Refreshes Like a Diet Pepsi” brings home the message that the future of viewing is content within content.
Brands like Pepsi are beginning to focus more on social TV and the growing audience there as they realize more and more viewer attention is being directed towards second screen devices (smartphones, tablets, laptops), particularly during commercial breaks.
While some brands build their own apps, others are moving to the myriad of TV companion apps and sites that are building audience. These brands will be able to complement their TV buys and messaging with digital advertising across all these apps that’s sync’d to their TV spots. This way, when viewers are distracted by their devices, the brands will not only have a ‘second’ chance to reach them, but they’ll be able to better engage them in the digital channel.