Lifetime Value of a Customer

Identifying the lifetime value of a customer is an essential step in understanding the dynamics of your business. It will change your view of acquisition costs and of the profitability of different segments of your business, add urgency to your retention strategy and cause you to think hard about working more effectively to generate referrals.
 

Customer Sourcing Exercise

One of the best places to look for marketing ideas when putting together a marketing plan is your own customer base. If you can identify how, where and why you obtained your existing clients it can give you some excellent pointers as to the best marketing strategies.
 
Promotional products are designed to support your brand, but all too often they are too cheap and do the exact opposite. It's an interesting conundrum and this is one area where "saving money" is counter-productive and can dramatically reduce your ROI. If the products you plan to give out don't represent the image that you are trying to create, you are probably better off avoiding the expense altogether and giving out nothing. 
 

Definition of Marketing

Here’s an interesting definition of Marketing. I don’t know where it came from or who the author is, but it certainly describes the different disciplines involved in marketing in a succinct and entertaining fashion - tying together advertising, promotion, publicity and PR in the context of one event. 
 
I originally heard this comment applied to sourcing product. Obviously the concept of buying below cost is, by definition, impossible and it was intended as a pithy call to action designed to get people to focus on making sure that they were continually searching to find lower cost product.