When driving organic growth within your business, there are a few directions you can take. You can attract more customers who will buy the products you’re already selling. You can offer bigger, more expensive products to your existing customers. Or you can try to offer new products to your existing audience—or a whole new audience. …
Elvis Presley. The Beatles. Beyoncé. These performers have done more than sing songs; they’ve built a powerful fandom. For their followers, it’s not just about the music. It’s about the persona behind that music. This phenomenon speaks to the crucial difference between loyalty programs and memberships. Loyalty programs make you feel nice about getting a …
Why It Might Be Time to Switch from a Loyalty Program to a Membership Model Read More »
The pandemic has exposed many hidden vulnerabilities in the world of business. We’ve seen hundred-year-old brands like Neiman Marcus file for bankruptcy. Supply chains across industries have been upended. And even Zoom, which overall has fared well during the pandemic, came under fire for lax security measures and concerns around “Zoom-bombing.” In all of the …
The Shift to Buying Local, and How Businesses Can Adapt to the Trend Read More »
The COVID-19 pandemic has affected all businesses, but it’s hit retail particularly hard. Since March, stalwart brands like J. Crew, Neiman Marcus, and JC Penney have declared bankruptcy. However, even prior to COVID, these brands were in trouble. Direct-to-consumer brands (DTCs)—such as Casper, Warby Parker, and Everlane—have been moving in on traditional retailers’ turf for …
A Peaceful Coexistence Between Direct-to-Consumer and Brick-and-Mortar Brands Read More »
The coronavirus pandemic has changed the definition of “business as usual.” Regardless of industry or geographic location, the entire world has experienced tremendous disruption. We’ve all had to adjust overnight and remain nimble as we’ve seen health guidance, government restrictions, and consumer attitudes shift on a daily basis. Now that the turbulent time of dealing …
Finding the Right Pockets of Opportunity in the New Normal Read More »
We’ve been extolling the virtues of building a business with recurring revenue opportunities for years. But over the past few months, the importance of establishing a way to steadily generate income has become all the more obvious. A report from Zuora finds that from March 1-May 31, 2020, 50 percent of all subscription-based companies maintained …
How Leading Companies Think About Recurring Revenue Read More »
As you know by now, we at the Sterling Woods Group are firm believers in the power of data. But for those who aren’t data scientists who spend their days in the weeds with data, the valuable information to be mined from the data itself can look like a jumble of numbers. That’s why it’s …
How Storytelling Takes Your Data to the Next Level Read More »
Managing email communications can be a source of stress for businesses, even in the best of times. If you email your list too infrequently, they forget about you. But if you’re too eager to land in their inbox, it’s off-putting. You end up with unsubscribes and in spam folders. Now in the time of COVID-19, …
In mid-March, we suddenly found ourselves working from home. While some teams had been distributed all along, many more had to adjust very quickly to the realities of remote work. One of those realities is virtual meetings. These days, we’re all spending a lot more time on Zoom. For those of us used to in-person …
Combatting Zoom Fatigue: Tips for Getting Everyone Engaged Virtually Read More »
Many companies are freezing or cutting marketing budgets right now. Even the big guys like Google are reducing spend and freezing hiring. In times of crisis, marketing is often the first place leaders turn when looking to scale back. Marketing is seen as a nice-to-have, and when it comes down to funding the essential functions …
Why You Should Increase Your Digital Ad Spend Right Now Read More »
Our team at the Sterling Woods Group has been hosting bi-weekly Campfire Chats for our community of executives throughout the COVID-19 crisis. We’re all leading through an uncertain, unprecedented time. We wanted to create a space where we could unite, share ideas, and help each other and those around us. At our most recent Campfire …
Contributing to Your Community in the Time of COVID-19 Read More »
Most of the United States went into some form of shelter in place in early- to mid-March. That means we’re coming up on two months of disruption to the way we live and work. But with the coronavirus’s infection curve now flattening, many states are looking at when and how to get back to some …
