Insights
The Impact of AI on Marketing: Revolutionizing Creativity and Personalization
AI is revolutionizing the advertising industry in multiple ways. While AI has played a limited role in advertising in the past, recent advancements in AI technology have increased its potential and expanded its involvement in the creative process. By combining AI with human intelligence, creatives and ad agencies are able to generate valuable insights that result in faster and more cost-effective ad production. For instance, in early 2023, Kraft Heinz utilized OpenAI's Dall-E to generate non-branded prompts and create diverse images of ketchup bottles with different shapes and labels compared to the original Heinz bottle. Through a vibrant and [...]
How to Create More Effective Marketing
What We Can Learn from Iconic Brands In today’s marketing, much of the focus is on website design, social media spending, product features and functions, and differentiation from competitors. So, what’s missing? Savvy marketers have turned to the cognitive sciences to understand how people make purchase decisions and how the brain works in this process. The result is the creation of more effective marketing, better use of marketing budgets, and the creation of truly iconic brands like Coke, Pepsi, and American Express. How Does Cognitive Science Work? Cognitive science has found that individuals make decisions based on a need [...]
New Opportunities During and After Covid-19
Now, more than ever before, marketing opportunities exist for brands to understand and respond to customers’ changing needs. A recent article in the MIT Sloan Management Review (May, 2020) points out that marketers should think about solutions, not just products. Incumbent brands may rely on how they are different from competitors. However, opportunities lie in how brands can be differentiated for customers and what they value. And what customers value in many product and service markets is changing. The fact that things have changed means it’s time to re-visit customer needs. Brands have an opportunity to reach out to [...]
How to Improve Your Marketing Messaging
The Basic Marketing Challenge All marketers want to motivate customers to notice and prefer their product or service, but the challenge is to understand how customers make decisions. As a result, we all wonder if our messaging and branding are working as effectively as possible to motivate customers to purchase from us. DMR’s Approach Our approach is based on scientific research involving rigorous qualitative and quantitative methods and means-end theory. The basic premise of means-end theory is that customers do not buy simply based only on the tactical and tangible features of your product or service. Rather, effective marketing [...]
How to Extend Your Brand’s Reach
Do you ever wonder how to extend your brand’s reach? Yes, you can do more digital and social media. Yes, you can increase your advertising spending. However, another way to extend your reach is to change how your frame your brand’s values. Here’s one example… Canon did just this by not focusing on the camera, but on how its products help you tell your story in the best possible way. This meant a shift from product focus to customer focus. Doing this helped Canon increase share against traditional competitors like Nikon and newer competitors like smartphones. One example of this [...]
Experience Marketing: Shifting the Focus from Buyers to Users
Experience marketing is showing off its power as marketers see its benefits. "Experiences form the basis of all types of human relationships” (Experience Marketing Association, 2018). Marketers who recognize this will have the advantage of thriving in the digital era of social media and see sales gains for what they sell. What accounts for the success of experience marketing? Dual factors are at work. One is a keen understanding of what drives behavior. The other is rooted in a cultural shift. The fact that almost every purchase decision is ultimately fueled by functional or psychological needs gives experience marketing [...]
Healthcare
DMR is assisting more clients in the health care area. This market is witnessing change on several fronts. New models for healthcare delivery are emerging and focus on quality, value and convenience for the patient. Change is coming from federal regulations, alternative payment models, innovative technologies, analytical-driven approaches and consumer expectations for better service based on their retail experience. DMR clients in the growing health care market are in several vertical segments and include: Diagnostic Imaging, Patient Monitoring and Health Informatics Homecare and House Calls Enterprise Technology and Software Insurance Innovative Health Care Models and Technology [...]
Win/Loss Studies: A Powerful Tool for Increasing Revenues
DMR continues to increase client success with win/loss studies in B2B and B2C markets. Win/Loss analysis is a powerful and underutilized tool that reveals why a company is having great sales success or why it isn’t meeting target goals. Win/Loss studies are best done not by the company’s in-house sales team but by independent analysis to “get the real story.” With formal and ongoing Win/Loss studies, DMR clients have increased their revenues by substantial margins. These clients have: Turned losses into wins Gained insight on what competitors are doing right…and wrong Activated dormant accounts Fine-tuned their marketing message Adjusted [...]
