REPEAT BUSINESS AND REFERRAL ARE ALL ABOUT THE PRODUCT – 3 OBSERVATIONS It is only reasonable that there should be pressure on marketing budgets. So much of the investment  in marketing is wasted. The argument against cost cutting is most often that it will lead to poorer results. So, how do we cut the cost […]

REPEAT BUSINESS AND REFERRAL ARE ALL ABOUT THE PRODUCT – 3 OBSERVATIONS It is only reasonable that there should be pressure on marketing budgets. So much of the investment  in marketing is wasted. The argument against cost cutting is most often that it will lead to poorer results. So, how do we cut the cost of marketing without damaging returns? How often have you heard a business person extol the virtues of word of mouth? If I have heard it once, I have heard it 10,000 times. Well, word of mouth is of course referral – and, along with repeat business, it is the key to ongoing sales. It also amounts to the customer loyalty that so many business say is lacking today. How often have you heard a business person go on about the lack of customer or brand loyalty these days? If I have heard this once, I…