Let’s begin by classifying various recipients so that depending on their role and profile the budget can be decided. The budget helps in shortlisting the various product choices available to get the maximum mileage keeping end objective in mind.
- Consumers,
- Customers,
- Partners,
- Influencers,
- Employees and
- Business associates
CONSUMERS: – The correct definition of the consumer is the actual user or end consumer of your product or services. Since the lifetime value of a consumer is very high most of the brands are willing to invest high budget to influence and acquire new users. Offer something they cannot refuse and, in the process, end up trying your new product and hopefully, you have acquired another new consumer. Read More