CMO Strategy: Need to Read, June 25, 2007
Leave the 'Walking Dead' Alone
Don't kill the "walking dead," just leave them alone. That's the advice of Wharton marketing professor Peter S. Fader in the paper he co-authored, "Modeling the Evolution of Customers' Service Portfolios." The "walking dead" are customers who currently subscribe to services such as telecom, but are just a step away from canceling those services. You'll waste valuable dollars and possibly prompt them to cancel services more quickly if you market to them, the paper explains.
In "Who Do You Love?" Fast Company writer Bill Breen shares experts' lessons as to how brands can once and for all get their hands around that holy grail of advertising and marketing: authenticity. Included are examples of brands that get it (Abercrombie & Fitch) and those that try, but stumble (Cold Stone Creamery, for example).