FreeThink: Follow the Money

FreeThink: a blog published by Maxwell PR

Follow the Money

We Maxwellites are pretty switched on about the power of peer-to-peer word of mouth recommendations that affect purchase decisions. At this year's Kitchen Conference, branding guru Lynette Xanders of Wild Alchemy challenged conference attendees to use the age-old 80/20 rule (80% of your revenue comes from 20% of your customers) and find the cultists who love your brand. Why should you focus on the people who are already buying instead of trying to lure in new customers? Xanders believes talking to your most fervent fans can give you insights and identify patterns they have in common with "low-hanging fruit" customers who should be your customers but are not.

Done right, we believe that this branding approach is as much about fans' ability to tell you what they love about the brand as their power to influence others. So don't be surprised when companies like Maxwell PR recommend consumer engagement initiatives like promotions, sampling and loyalty programs because we know they effectively allow brand and product advocates identify themselves so we can listen and learn a lot from them. They're a precious asset.

- Vicky

posted on May 02, 2008

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	This spirited, open forum by Maxwell PR staff members, studio mates and colleagues features people who are, in our opinion, doing the right things to get people talking. You'll see us rave about organizations building communities and rant about those who are missing obvious opportunities. We sprinkle in a little marketing and PR rhetoric from time to time for extra vigor and enthusiasm, and will share observations and insight based on our own experience honing our craft every day.

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