Your direct marketing special report (MW 21 May) raised some interesting issues around the changing face of marketing during the recession, but failed to address the issue of exactly who brands should be trying to target. In the current market, the old adage that “it costs five times more to target a new customer than to retain an existing one” is more pertinent than ever. As a result many marketers are focusing their energies purely on retention.
The Chartered Institute of Marketing’s white paper – “Marketing’s decline: a wild exaggeration?” (MW 21 May), refers to crucial points where our profession is failing to show its true worth. However, the pressing issue is not to bemoan our failings but to agree how we can start to improve things.
Santander’s decision to replace three of the British high street’s most recognised banking brands may not be all plain sailing. Change is certainly needed, but while Abbey customers have had some time to get used to the Santander’s branding, the same is not true for A&L’s and Bradford & Bingley’s.
Reading Money for Nothing (MW 14 May), what the Marks & Spencer sale and, in particular, the over-redemption of the Threshers e-shot highlighted is that brands are not applying sufficient due diligence in putting together their promotions.