123 eGuides

1 Minute Advice: "Omnichannel Personalization" is a Must

According to consulting firm McKinsey, "companies that are able to personalize the customer experience across physical and digital channels—omnichannel personalization—can achieve a 5 to 15 percent revenue increase across the full customer base." McKinsey points out that, despite the heavy emphasis on customer personalization online, "more than 80 percent of sales occur in a physical location" when it comes to the retail, convenience, grocery and hospitality sectors.

McKinsey lists five steps to take to drive growth via omnichannel personalization, including the all-important connection of digital and physical touchpoints: "Companies should focus on five touchpoints where this convergence happens: mobile app, digital displays, interactive screens, tech-enabled associates, and point of sale," says McKinsey.

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1 Minute Advice: McKinsey's COVID-19 Global Survey

McKinsey just surveyed consumer sentiment globally amidst the COVID-19 crisis. In the United States, according to McKinsey, "US consumers remain relatively optimistic, with 39 percent of consumers optimistic about a rebound within two to three months."

Still, there are some major concerns. McKinsey reports:

"Despite this relative optimism about the economy’s resilience, there are significant signs of concern. Consumers are increasingly feeling the impact of COVID-19 and are being very careful about how they spend their money (59 percent). Just over half of consumers say they will reduce their spending over the next two weeks. This intent to spend less has been most dramatic for discretionary purchases, including travel, out-of-home entertainment, apparel/footwear, and home furnishings. For the few categories in which consumers expect to spend more (for example, grocery, home-based entertainment, and household supplies), consumers expect to focus this spending online."

Read the survey results for all countries here: https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/global-surveys-of-consumer-sentiment-during-the-coronavirus-crisis?

This post is brought to you by 123eGuides.com. 123 eGuides are a series of authoritative guides about branding, marketing and small business published exclusively in electronic format to provide maximum value at minimum cost.

Check out the new book featuring 156 best and worst brands of the 50s and 60s!

Free eGuide Offer Extended Through May 31

123 eGuides wants to give back during this trying time. Until May 31, we are offering our popular eGuide, "On Your Own 123: Launch a 1-Person Business in 3 Proven Steps," absolutely free!

This eGuide includes valuable information about starting, growing, and managing a 1-person business, including: the ups and downs of working for yourself, legal considerations, branding your business, sources of capital, establishing a place of business, professional advice, basic systems, getting business for your business, the importance of satisfied customers, using sub-contractors, when to add employees managing receivables, tracking and analyzing expenses, managing cash flow, having sufficient insurance, paying taxes, meeting employee requirements, and managing your personal life.

To get your eGuide free, simply visit https://www.smashwords.com/books/view/177376. Use the code AG100 at checkout and you will be able to download the eGuide in the format of your choice, including EPUB, Mobi (Kindle) or PDF.

Be sure to take advantage of this free offer by May 31.

1 Minute Advice: Brand Perception and the Pandemic

Even at the worst of times, there are opportunities for brands to position themselves in a positive light. Leading communications firm Edelman recently issued a "Trust Barometer Special Report" concerning brand trust and the coronavirus pandemic. Edelman's conclusions: "If you were ever in doubt that brands matter, this new data reveals the power and necessity of brand as well as their urgent need to act. Brands should find solutions instead of selling passion or image. They need to be tangible and fast, not impressionistic and conceptual."

For the Trust Barometer, 12,000 people in 12 countries, including the U.S. were interviewed. Some of the key data points:

• Sixty-two percent of respondents said that their country will not make it through this crisis without brands playing a critical role in addressing the challenges.
• Fifty-five percent said that brands and companies are responding more quickly and effectively than government.
• Seventy-one percent agree that if they perceive that a brand is putting profit over people, they will lose trust in that brand forever.
• 90 percent want brands to do everything they can to protect the well-being and financial security of their employees and suppliers, even if it means substantial financial losses until the pandemic ends.

Get the full report here.

This post is brought to you by 123eGuides.com. 123 eGuides are a series of authoritative guides about branding, marketing and small business published exclusively in electronic format to provide maximum value at minimum cost.

Check out the new book featuring 156 best and worst brands of the 50s and 60s!