Ever wonder about the value of marketing?
Well, you’re not alone.
Last week, I saw an example of best marketing practices in action—at the Portland, Oregon, airport. We were in between flights from Medford to Spokane with some time to enjoy. We happened past the Made in Oregon store, where there was a wine-tasting in progress.
We tried some terrific wines and developed a nice rapport with the person pouring wine—I’ll call her the brand ambassador. She told us she had earned her bachelor’s degree at Southern Oregon College (now Southern Oregon University). A self-described hippie, she loves Ashland—and she would be happy to come to our house and do a full-blown wine-tasting event!
“WOW!” we said. “You’ve got a deal.”
Waiting for the connection to Spokane, we spent 20 minutes coming up with the perfect guest list. Let’s do it when my parents are visiting from New York. That would be fun. Who do we want them to meet? Who do we know that loves wine? Hmm … it’s an easy list to make.
Then we started thinking about marketing. And how powerful a brand ambassador can be.
This brand ambassador is going to travel from Eugene to Ashland to entertain and delight a party of wine and food aficionados. She will probably pour six bottles of wine during the tasting plus another six during the meal. We will pay for some of it. She will leave the party with orders from our guests—maybe up to 20 cases of wine. Not much of a return for the cost of it all, you say? Well, think about the lifetime value of a customer.
I’ve learned a customer’s value should be measured over their lifetime. That’s calculated by initial purchase, subsequent purchases and influence on others’ purchases. This is a little hard to measure, but it’s important to attempt a rough estimate. And don’t forget the concept of brand loyalty. You know what it is. You have it. We all do.
Think about this: our new friend Shelley, the brand ambassador from Willamette Winery, will travel to our house from Eugene and pour wine for 20 of our foodie friends to get an initial order of possibly 20 cases and 20 new customers, who will tell their friends and become like brand ambassadors themselves.
To me, that sounds like good marketing. What do you think?
I love examples of good marketing practices in action. What’s your favorite? Please share here and visit Capiche’s Facebook page, too.