Marketing & sales
Companies use voting to engage customers and create buzz. The practice can spark innovation, lower product development costs and increase speed to market. But this kind of engagement can also lead to consumer expectations … and the British public voting to name a $280 million ship “Boaty McBoatface.” How can savvy organizations avoid this trap?
Darden Professor Rajkumar Venkatesan proposes four steps for marketers to develop an AI “canvas,” through which they can deploy machine learning technologies to compete for customer attention.
What does a formerly popular NBA franchise do when it sees a sheer drop in attendance and more than half its luxury suites go empty? It employs this technique to determine how much fans value different perks … and refills the arena with a strategic and inexpensive promotion.
We may be proud of our own interests as well-rounded and complex, but when it comes to others, we’re quick to assume a narrow spectrum of tastes. Professor Tami Kim explains why this matters in a range of situations, whether companies are marketing to consumers or physicians are consulting on life-or-death matters.
How successful firms use data: Car insurance comparison site Compare.com drove completion rates thanks to its analysis of customer behavior and web traffic. It serves as a case in point on the five key traits of organizations with exceptional cultures of experimentation.
Darden Professor Thomas Steenburgh and co-author Michael Ahearne discuss how salespeople and companies can better sell new products business to business.
Feed the Future Partnering for Innovation, a USAID-funded program, and Popoyán, a Guatemalan agribusiness, partnered to commercialize a line of biological products for smallholder farmers in Guatemala.
To compete effectively in a fast-paced environment, companies are realizing they need to build deeper attachments with customers. They want customers who will do more than just shop — who will influence others, make referrals and even co-create new products.