The success of any business depends upon its customers. This is why it must make an earnest effort to attract potential customers and retain existing ones. In business, marketing innovation plays a crucial role in attracting potential customers and retaining existing ones. It boosts lead conversions of the company and plays a vital role in establishing its presence in the market competition.
Daniel Klibanoff is an entrepreneur from North Carolina and is widely known for generally a profitable revenue from all the companies he owns. In 1982, he started a data business with only $ 500. This business stands as one of the leading marketing and data solution providers for renowned brands like Mutual of Omaha, Allstate, Blue Cross Blue Shield, AARP, Hearst Magazines, Chase Manhattan Bank, and many others in the field of direct marketing.
He is the President and the CEO of Multimedia Lists Inc, which is a data solutions and multi-channel audience solutions provider to credible advertisers across the world.
- Bringing in huge profits to the company
He is well known for pioneering and generating to the market an extensive database with 100 000,000 credit cardholders with TransUnion. This credit bureau has released its data for the first time for offers that are non-credit in nature in the market. In this way, he has generated over $20,000,000 for both TransUnion and his company.
- Getting the competitive edge with innovative marketing
According to him, the current market needs innovation, which applies to both small and large names. Every business has the same goal- to increase profits and customer retention or loyalty. So, to attain both, the company has to pay attention to constant innovation and marketing for success.
- How can innovation be boosted in the company?
Innovation means that the company has to churn out novel ideas that will work for its growth and success. This innovation should be applied to the products and the services it sells to the targeted audience in the market.
Once the products and services of the company receive this innovation, it needs to market them to the audience. This is where communication becomes essential, as it communicates the product’s salient features or service to the intended audience.
- The traditional forms of marketing have become obsolete today
According to Daniel Klibanoff, businesses need to shift away from the traditional way of operations. They will sink into oblivion if they fail to innovate with their peers in the same business niche. Marketing innovation is the key to successful direct marketing to the intended audience. It is prudent for a business to consult experts in the field for custom solutions ideal for their company’s growth.
No matter how small or large your business is, you must focus on the benefits of innovation. This helps you and your business establish your presence in the competitive market with success and boost profitable revenue. There is no alternative to this.