McKinsey on Digital Disruption

You've read our posts on the impact of disruption, so here's a great article by Jacques Bughin from McKinsey regarding the impact of digital disruption. McKinsey on Digital Disruption  

By | April 25th, 2017|News|0 Comments

IBM and The Weather Company’s Cognitive Council Aims to Shape the Future of AI in Advertising

Nearly two dozen agency and brand execs have joined a newly created group to discuss how artificial intelligence will change marketing. Click here to read more. AI in Advertising

By | April 18th, 2017|News|0 Comments

Southeast Tourism Society Keynote Address

Southeast Tourism Keynote

By | April 6th, 2017|News|0 Comments

Capturing Value from your Customer Data

McKinsey Analytics March 2017 Companies can put their information to work by teasing out novel patterns, driving productivity, and creating new solutions. Capturing-value-from-your-customer-data

By | March 28th, 2017|News|0 Comments

Have CMO’s lost their clout in the C-suite? A Boardroom Fable

RMG Revenue FasTrack is the addition to your already built house. By RMG Founder Stuart Holt Imagine a public company executive meeting with the CEO, CFO, COO, CIO, EVP of Sales, and the CMO. The meeting begins with the CEO stating the obvious, “As you all know, our shareholders don’t buy our current price, they are buying our future price”! The CEO continues, “our stock has declined a bit but not as bad as others, but we still need to figure out how to grow our revenue, watch our expenses, and maintain our excellent reputation for a top-notch product and service”. Therefore, “let’s spend this time discussing how to grow our revenue”. We are confident many of you reading this have been in this type meeting. The CFO pipes in and says, “we can’t save our way to profitability. This past year we have done an incredible job of lowering our expenses and we also had a substantial layoff. There is always room for improvement, but I think this past year was the year of cutting and little is left to do”. The COO says, “we have been able to maintain solid product and service quality despite all [...]

By | January 26th, 2017|News|0 Comments

Fighting Market Disruption – It’s All In The Data

Much more than just a buzzword, disruptive marketing is changing the way we react to, understand and accept companies and their advertising. From a business standpoint, disruptive marketing represents a key shift in an era where promotional strategies update as fast as the technology that carries them. Apple didn’t change music—it changed the way consumers shop for music with a disruptive service that revolutionized the industry. Netflix has revolutionized media consumption. Tesla has disrupted the auto industry by creating direct-to-consumer purchasing pipelines that break from the traditional dealership model and give consumers a way to interact with a car brand that’s familiar to their experiences in other categories. When you look at Airbnb — and also Uber, for that matter — it’s clear that many of today’s disruptors are focusing on the social aspect of consumerism. There’s something more attractive to today’s customer about purchasing a product or service from a person as opposed to a large corporate brand. Airbnb accomplishes this by connecting people to people. This peer-sharing aspect is what’s allowed the company to grow so quickly. Whereas disruption turns an industry on its head by offering customers something that previously didn’t exist, innovation merely makes an existing value offering better, [...]

By | January 25th, 2017|News|0 Comments

Face The Truth, Your Customer Data Sucks . . .From The Financial Brand

We at RMG saw this recent posting from our friends at The Financial Brand. The article, by Ron Shevlin, summed up our approach and belief succinctly and we felt it important to share.   During a presentation at strategic planning session for a large credit union, I challenged the management team’s notion that the FI was–or could be–“competing on superior service.” My argument went as follows: The market isn’t big enough. Only so many consumers choose a financial provider for its “superior service capabilities.”  Many consumers choose an FI based on convenience–not service–related factors. Even there, “convenience” is not a single or well-defined concept, as convenience could mean nearby branches, or extended hours (like it means to one bank here in the Northeast), or it could mean the provision of technology-based tools to make the consumer’s financial life easier to manage. The strategy isn’t measurable. Managers need to be able to gauge two things: 1) To what extent is their chosen strategy a smart strategy, and 2) How well are they executing on their chosen strategy. There’s no shortage of financial institutions (especially credit unions) who claim to provide superior customer care — with no ability to measure or prove that [...]

By | January 17th, 2017|News|0 Comments

A Good Reminder For The New Year

This was a great article published by our friends at The Financial Brand. While it is several months old, it is very relevant as we start 2017. The Future of Financial Marketing Hinges on One Word: Data May 9, 2016 | Subscribe to The Financial Brand for Free You need to extend your knowledge of customers, extract poignant insights, create relevant marketing messages and produce exceptional experiences. This all revolves around data. The winners and losers in banking will be determined by how quickly marketing keeps pace with the data revolution. You need to develop the skills, tools and talent... now. By Jeffry Pilcher, CEO/President and Publisher of The Financial Brand Every marketer understands it’s important to “know the customer.” Having a fundamental understanding of the customer — flowing directly from data — should power all interactions with the brand, everything from advertising and marketing to retail channels and the customer experience. But in the Digital Age, these data-driven insights must go beyond the standard demographics like gender, age or income to include their individual needs, wants and attitudes. How do people spend their time? How do they engage with your brand, and with other brands? How do they behave as individuals — not just [...]

By | January 3rd, 2017|News|0 Comments

How Hospitals Can Make Marketing Effective and Measurable: Drive Greater ROI With Your Existing Data

  We’ve been fortunate to see the changes technology has brought to marketing and marketing measurement over 30 years in this business. As data has grown in its acceptance and utilization, most industries have recognized the ability to apply customer and prospect information to develop relevant and targeted marketing communications. Unlike other industries, such as banking and retail, which have been using sophisticated data solutions to drive their business needs for decades, the healthcare industry is lagging behind in fully utilizing technology. The Budget Control Act of 2011 is the major milestone to incentivize care providers using EMRs. The effective date for Medicare reimbursement reform was on April 1, 2013 and non-compliant providers were facing a 2% deduction under Medicare programs. The changes in the regulatory arena finally pushed the healthcare industry to the modern age. Most experts agree that the healthcare industry itself will be transformed once data begins to play a more integral role in patient outcomes, patient care, and managing the overall operations of healthcare providers. Increased accessibility to growing data sets will revolutionize the industry’s ability to anticipate, prevent, and treat illnesses. But for healthcare brands to utilize this data in order to grow their businesses, [...]

By | January 3rd, 2017|News|0 Comments

Media Release – November 28, 2016

Response Marketing Group, Richmond, Virginia, is celebrating their 30-year anniversary as an industry leader in data-driven marketing and advertising. Both original Founder and agency Principal Stuart Holt and principal, President and CEO, Jim Harenchar believe that some of the basic elements of success in marketing have not changed. “Since our inception in 1986, knowledge has always been critical and those companies that embrace and deploy data insights are consistently winners.” According to a recent Gartner survey, interest in big data technologies and services is at a record high, with 73% of the organizations surveyed investing or planning to invest in them. But most organizations are still in the very early stages of adoption while only 13% of those they surveyed had actually deployed these solutions. Holt believes that with the proliferation of traditional and digital data, many agencies have no idea how to make this overwhelming information actionable and campaigns measureable.  It is a big part of why Response Marketing Group has continued to find such great success for their clients over thirty years. The agency continues to focus on core sectors that have been their historical strengths: Financial Services, Hospitality and Non Profit, serving clients such as Wells Fargo, [...]

By | November 28th, 2016|News|0 Comments