Peter drucker once said that the purpose of business was to “create a customer”. I believe that to be true. But marketers (and other business leaders) take the term “customer” too literally. Many believe that a customer is create when they buy the product or solution offered by the company. I argue that a one-time sale does not necessarily mean you’ve created a real customer. Likewise, I argue that businesses can create customers who have not purchased any product or service. As drucker himself said, “the customer determines what a business is. Because it is the customer (alone) who, by being ready to pay for a good or a service, transforms economic resources into wealth, things into goods. ” great marketing adds value that customers are willing to invest in and that can create wealth for the Uganda Phone number business. But not all customer investments involve a purchase.
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Time, attention, referral, personal Uganda Phone number data, and brand loyalty, all of which can be converted into wealth for the business. Not all client investments involve a purchase. It can be time, attention, referrals, personal data, explains robert_rose viacmicontent. Click to tweet media companies understand this. As one television executive said nearly 20 years ago in the book audience economics, “I can’t think of any other company that makes one product, but sells a different product. W create programs and broadcast them. We do not sell the programs; we sell the people who watch the programs. Uganda Phone number you watched the recent documentary the social dilemma, you have another understanding of the relevance of this model in today’s digital.
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Traditional product and service businesses the opportunity to expand the classic definition of a customer and. How wealth can be create in the business. Hand related content: your audience is not the same as your marketing database think strategically about your content model what is the value of marketing. I’ve written about the different value journeys Uganda Phone number of audiences and customers and how they are assets to the business. Modern marketers are Uganda Phone number measureby their ability to guide potential buyers through a process that increases their value to the business all the way to becoming what we think of as a customer (someone who makes a purchase). According to the theory, a qualified lead is worth more than a visitor, and a sales.