Sturm, Arthur C., Jr.

"A CFO's guide to the marketing galaxy: if you are frustrated with
marketing budgets that are based on cost, try starting with a strategic perspective." ​Healthcare
Financial Management​, May 2006, p. 66+. ​Student Resources in Context​,
http://link.galegroup.com/apps/doc/A145981368/GPS?u=glen20233&sid=GPS&xid=46a97c99.
Accessed 30 Nov. 2018.

This detailed report about marketing by Arthur Sturm discusses the effectiveness of customer
retention over customer acquisition, specifically in health care. He explains that many large
companies spend most of their marketing resources on attempting to attract new customers
instead of engaging their current customers. He shows just how effective customer retention is,
citing a study that shows that the success rate of customer retention can be nearly three times
higher than the success rate of customer acquisition. Despite the effectiveness of customer
retention, companies, specifically in the medical field, pour millions of dollars into attracting
new customers. He explains that instead of burning through capital, corporations should weigh
their options and highly consider improving their experience for their current customers. Each
corporation should develop a specific plan for both retention and acquisition in order to further
grow their their customer base. Many companies completely overlook customer satisfaction and
make no effort to improve the experiences of current customers. In fact, he explains that some
companies are so out of touch with their clients that they don’t even know about the user’s
experience. Sturm argues that companies should spend more time and money on improving
customer retention.

Arthur Sturm has experience with marketing, specifically in health care, through his employment
as the President and CEO of SRK for over 35 years. He has not provided any information about
his education, but his experience shows he is experienced in the field. He attempts to provide an
accurate way to help people who are going over their budgets with limited results. Sturm
advocates for the importance of customer retention, explaining that many companies spend too
many resources on acquisition instead of keeping their current customers happy. By analyzing
both forms of marketing, he shows which one is more effective in an objective way. This article
is inherently biased, however. With a topic as subjective as marketing strategies, there is no such
thing as a completely unbiased, objective source. Sturm attempts to explain the topic from both
sides, along with explaining why he believes that customer retention is more important. The
document is still valid because he explains the issue from both sides and provides detailed
evidence about the advantages of retention and the disadvantages of acquisition. This article was
published in 2006, which does seem quite old. However, this article is still useful because even
today customer retention is important. Since the article does not discuss things that have changed
since 2006, like digital marketing, the information is still accurate. The author provides his full
name and email as contact, in case anyone wants to reach out and ask more about the subject. He
cites various studies in order to strengthen his argument and credibility, and all of this
information can be corroborated with the book he referenced, ​Customer Winback: How to
Recapture Lost Customers--And Keep Them Loyal. ​He pulled information about the study
conducted and about the data it revealed. There are a variety of articles which agree with Sturm’s
assertion that customer retention is key to effective marketing. The information can be
corroborated by articles made for the public like
https://www.forbes.com/sites/jerryjao/2014/11/19/why-customer-retention-is-king-the-evolution-
of-retention-marketing-part-1/#4ec70711186b​ and scholarly articles like
https://pdfs.semanticscholar.org/9fed/04826e436e3ddc1cdc838c9e7b803c51a620.pdf​. This
document is intended for marketers and CFOs who are struggling to properly market their
product. Sturm hopes to educate others on how to successfully market without wasting their
resources. This article is effectively written to educate its intended audience, other marketers.

Bourgeois, Tim. "Four Keys to Global Content Marketing Success." ​EContent​, Summer 2018, p.
11. ​Professional Collection,​
http://link.galegroup.com/apps/doc/A547630925/GPS?u=glen20233&sid=GPS&xid=bd33447c.
Accessed 28 Nov. 2018.

This report written by Tim Bourgeois analyzes content marketing strategies and explains what
most companies need to focus on in order to appeal to their audience. He explains that
companies spend up to a quarter of their entire marketing budgets on content marketing, which is
a specific form of marketing that focuses on online newsletters, social media, and other online
promotions. He argues that many marketers, however, ineffectively use content marketing, and
there are four main issues with their promotions. One issue is that companies often overlook
keywords, and they need to focus on targeting specific audiences. Bourgeois also argues that
many companies don’t spend enough time and money hiring effective employees and contractors
to actually write the advertisements. These companies should try to create more captivating
material for their audiences, even if it requires more resources. Another issue that the author
outlines is that many marketers do not effectively utilize their outlets. When creating new
advertisements, they tend to try to market through a new medium instead of resorting to tactics
they have successfully used in the past. Lastly, Bourgeois argues that some companies spend too
many resources on the actual product and are left without enough money to effectively promote
their product. Bourgeois believes that fixing these issues can greatly improve a company’s ability
to market their content.

Tim Bourgeois is heavily qualified for this article because he is a partner at a marketing firm and
he has even created a community for professionals in marketing and technology. A short Google
search revealed he has a Bachelor’s degree in economics, as well as over 10 years of experience
in marketing. He attempts to provide an unbiased telling of the most common flaws in marketing
in many companies. This topic as a whole, however, can be subjective. Bourgeois provides
evidence to support his assertions, however, so the article is reliable. To strengthen his argument,
he cites information from other professionals in the field, including Karen Moked, a Vice
President of marketing, and Josh Prost, a senior marketing operations manager. This article is
extremely recent, written in the summer of 2018, so it accurately shows marketing in the digital
age. Bourgeois attempts to explain some of the common errors in content marketing across
various different companies. The document is clearly geared towards other people in the field,
since it gives advice on how to fix the common flaws in advertising. The author also provides his
contact information, including his Twitter handle and his work email. On the Internet, there are
other articles written by Bourgeois about similar marketing topics. He uses information from
other sources and all of these quotes can be validated. A variety of articles show the importance
of keyword research, like ​https://moz.com/beginners-guide-to-seo/keyword-research​ and
https://neilpatel.com/blog/keyword-research-important-part-digital-marketing/​. This piece is
targeted towards people with a background or interest in marketing. Bourgeois effectively
describes the common marketing flaws and how to fix them in his article. The information
presented effectively educates people who are interested in marketing without being overly
simplified or complex.

Andrew, Gordon G. "Revitalize your firm's marketing strategy: avoid two common pitfalls and
boost ROI." ​Journal of Accountancy,​ July 2011, p. 40+. ​Student Resources in Context,​
http://link.galegroup.com/apps/doc/A261318831/GPS?u=glen20233&sid=GPS&xid=6fb
b99cc. Accessed 18 Dec. 2018.

This detailed analysis of flawed marketing strategies by Gordon Andrew discusses the common
issues in many forms of marketing, specifically in accounting companies. He explains that the
two flaws in many firms is their use of “tactical soup” and “failure to launch.” He defines tactical
soup as the overuse of various strategies without considering the effectiveness of these strategies.
He explains that many companies waste huge sums of money to try new marketing techniques
without ever considering if their company is growing. The other common issue, “failure to
launch,” is ineffectively expanding upon their current marketing techniques. Instead of striving
to improve their current techniques, many firms try new avenues of marketing, which results in
incomplete advertising. After explaining the common pitfalls of accounting firms, Andrew
begins to explain ways to fix these issues. He explains that the easiest way to overcome these
issues is to deeply analyze all current techniques and decide what is and is not working. After
eliminating the unsuccessful advertising strategies, the company can expand on their current
techniques in order to improve volume. Another way to overcome these problems is to
understand the marketplace which you are trying to dominate. Often times, companies attempt
aggressive advertising when the more effective method might be to take a passive approach.
Andrew explains that analyzing the clients you are trying to attract can allow a firm to streamline
their advertising to be less expensive and more effective. He explains that overcoming these
common obstacles with the provided solutions leads to better marketing strategies.

Gordon Andrew has an ample experience with marketing and management. He has over 25 years
of experience in marketing communications and is currently a managing partner of Highlander
Consulting Inc., a firm in New Jersey. Andrew has graduated from Fairfield University with a
degree in English and the New York Institute of Finance with a finance degree. He tries to
neutrally explain the most common flaws in marketing and the best ways to fix these flaws.
Andrew focuses his attention on how companies should understand their own marketing
strategies and build upon them instead of expanding into various areas. Despite Andrew’s
attempts to remain objective, some bias remains. Since he is a marketer, his own personal
experiences with the field influence what he believes the most effective methods are. Even
though the article is biased, it is still a useful tool because no marketing analysis can be entirely
objective. Andrew deeply analyzes a variety of countermeasures against ineffective marketing,
even explaining why some methods do not work. Therefore, the article is still valid because it
views all sides of the issue and does a deep analysis. This recent article was published in 2011,
which is new enough for marketing. Andrew focuses only on material marketing, not digital
marketing, so the analysis is valid. He also provides his contact information, like his email, at the
end of his article so readers can reach out to him with questions. Throughout the document, he
cites different studies and book which corroborate his findings. The studies referenced are
corroborated in the Harvard Business Review,
https://hbr.org/1984/09/effective-marketing-for-professional-services​, and ​"How to Buy/Sell
Professional Services" which is another article published in the Harvard Business Review. This
article is targeted specifically at marketers or others who are interested in the field. Andrew
effectively describes the most common flaws and the best fixes for these issues. The information
is easy to read along with being complex enough to properly educate those in the field of
marketing.

Bird, Anat. "Assessing Customer Retention Techniques." ​American Banker​, 17 June 2005, p. 11.
Student Resources in Context​,
http://link.galegroup.com/apps/doc/A133308048/GPS?u=glen20233&sid=GPS&xid=ee8
05e44. Accessed 16 Jan. 2019.

In this brief article published in ​American Banker,​ the author, Anat Bird, attempts to explain the
importance of customer retention and how new findings have led to an increased focus on
retaining new customers rather than attracting new ones. The entire passage focuses specifically
on banks, providing important information about the increased profits from improving the
experience for current customers. She explains how current customers are unlikely to leave
unless they have very negative experiences with the bank, and that current customers are more
likely to pay more money to a bank they have used for an extended period of time. Establishing
this connection, the author explains, is far more profitable in the long run for a bank than merely
attracting new customers who may quickly leave the bank. She even explains how loyal
customers are willing to receive slightly lower interest rates on their bank accounts in exchange
for great customer service. Bird explains that gimmicks intended to draw in new customers only
last for a short period of time, and those customers leave quickly without spending too much
money. This slightly decreased attrition, which means the loss of customers, can increase profits
by millions. In order to further increase profits, however, banks must refocus their efforts on
customer retention to keep their clients happy and earn more money in the long run. By
committing to providing excellent customer service, banks are able to increase their customers’
loyalty and their trust in the financial institution. In order to improve customer service, they must
take time to properly train employees on how to deal with clients and how to resolve issues
internally so customers do not have to waste precious time tracking down specific people in the
bank system. The increase in customer retention, and thus customer service, leads to an overall
increase in profits in the long run.

Anat Bird is very experienced in the world of banking. After graduating from the University of
Pennsylvania’s Wharton School of Business, she gained experience as a bank manager before
continuing to create Sterling Bancshares Inc, a bank holding company, and leading the SCB
Forums, an organization filled with supercommunity bankers. Throughout the article, she
attempts to explain the new developments in our understanding of the importance of customer
retention. Her expertise in dealing with finance for decades helped her to write this article about
the significance of retention. She focuses on how banks and other financial institutions should
focus on keeping their current customers happy instead of reaching out to new ones. She
carefully looks at both sides of the issue, retention and acquisition, before concluding that
retention leads to higher profits in the finance industry. She makes sure to note the advantages of
acquisition in order to show that she is unbiased in her reporting. Even though the article was
published in 2005, it is not outdated since the author focuses solely on physical marketing and
loyalty; she does not dive into digital promotions that exist today. Since she focuses on physical
marketing instead of digital promotions, the article’s findings are still valid since physically
advertising for banks has not changed very much since the digital age. At the end of the article,
her credentials are provided, along with sources for the reader to cross reference her findings.
Even though her contact information is not provided, a quick Google search shows her email.
Bird makes reference to a variety of findings by bankers that support the importance of customer
retention. These findings can be corroborated in articles like
https://www.ukessays.com/essays/marketing/importance-of-customer-service-in-the-banking-ind
ustry-marketing-essay.php​ and
https://dollarsandsense.sg/why-customer-service-is-still-the-most-important-factor-for-banks-to-s
ucceed/​. This article seems to be targeted specifically at marketers in the finance field, but the
findings are still applicable in other industries. The importance of customer service is relevant in
many fields, including the restaurant business. This detailed information is easy to read and
appropriate for its purpose.

Duff, Beth Longware. "Boost Customer Loyalty: Consumers have many options when it comes
to their pharmaceutical purchases. Keep them coming back to you." ​Drug Topics​, July 2018, p.
26. ​Professional Collection,​
http://link.galegroup.com/apps/doc/A562178233/GPS?u=glen20233&sid=GPS&xid=a4868d5f.
Accessed 8 Feb. 2019.

This detailed report written by Beth Duff discusses the importance of customer retention and
how to improve customer experience specifically in the pharmaceutical industry. She explains
that consumers have an immense amount of options for purchasing their medicine. In such a
competitive market, the experience of the customer becomes extraordinarily important. In fact, ⅔
of a sample population explained that they are currently dissatisfied with customer experience
and they would be willing to pay more for less issues when purchasing medicine. In order to
perfect customer retention, Duff explains, the employees must be kind and courteous to new and
returning clients. Along with kind employees, pharmacies should try to develop a personalized
touch to convince customers to return to their establishment. Birthday cards and casual
thank-you notes are very effective ways to show customers that they are valued. Social media is
also a very powerful tool which can further strengthen the relationship between customers and an
establishment. By providing relevant, fun information that pertains to the pharmacy, many
people are more inclined to visit again. Lastly, Duff argues that providing more services in the
same location can lead people to come back again. By providing convenient vaccinations, blood
pressure monitors, and other convenient practices, customers may feel inclined to return. These
various techniques can improve customer retention in the extremely pharmaceutical world.

Beth Duff is an experienced pharmacist. She has written a variety of articles about pharmacy
through her work writing articles at Drug Topics Magazine and as the marketing copywriter at
TransFirst. She graduated from Ithaca College with a Bachelor’s degree in communications, but
her work experience shows her knowledge both about marketing and pharmacy. Throughout the
article, she attempts to neutrally explain how pharmacies can increase customer retention and
customer experience. Duff specifically focuses on how these pharmacies should be focused on
providing the best service possible to their clients to influence them to come back. As with all
articles about the most effective marketing techniques, this document is inherently biased since
Duff’s personal experiences influence her opinion about marketing. Despite this slight bias, the
article is still useful because the author deeply and widely analyzes the effect of good customer
service. She uses quotes from pharmacists and marketers to prove her point that providing a good
experience influences people to come back. The articles is also very recent, published in July
2018, so it easily satisfies the five year rule. Even though Duff does not provide any contact
information at the bottom of the source, a quick Internet search reveals her credentials and
recommendations. Her contact information is also available with a LinkedIn account. Many of
her claims throughout the article can be corroborated by other articles. An article by the
Australian government,
https://www.business.gov.au/people/customers/manage-customer-relationships, and a marketing
firm,
https://www.mbopartners.com/blog/6-tips-for-building-and-maintaining-client-relationships,
both explain the significance of customer service. This article is specifically aimed at
pharmacies, intended to explain the most effective way to market their products. Duff efficiently
explains the importance of customer experience properly. The information is neither too simple
nor too complex.

Reichheld, Frederick F. "Here's the truth about customer retention." ​American Banker,​ 20 Sept.
1991, p. 4+. ​Student Resources in Context,​
http://link.galegroup.com/apps/doc/A11285172/GPS?u=glen20233&sid=GPS&xid=2c86
cf64. Accessed 19 Feb. 2019.

This research article written by Frederick Reichheld attempts to counter any claims about the
ineffectiveness of customer retention. After the initial study that revealed the significance of
customer retention, skeptics like Peter Carroll argued that the concept is fundamentally flawed.
Reichheld refutes such claims and proves the effectiveness of retention specifically in the field of
finance by rejecting various statements. First, Reichheld explains how sustainable high profits
require high retention. Carroll and other skeptics make the argument that branch deposits are not
driven by high retention rates. Reichheld counters this by explaining how studies in auto
insurance, credit companies, insurance brokering and advertising led to increased profits, so
Carroll’s claim was completely invalid. The second claim Reichheld refutes is that customer
balances do not increase over time. He explains that two institutions that track individual
customers have shown the overall increase in bank balances. He continues to explain how the
bank account of a customer who is in their forties would surely be higher than that of a younger
customer. Therefore, retaining customers for many years or even decades would surely lead to
higher overall bank balances. Reichheld then refutes the claim that referrals don’t make a
significant difference. He explains that studies have shown that 20-40% of new customers
choose a bank based solely upon a referral. From this data, it becomes clear that referrals are in
fact very important for many industries. Lastly, Reichheld explains how even though it might
seem counterintuitive, customer retention still works for “bad customers” who do not spend
much money. He explains that in the grand scheme of things, with a large number of customers,
a few bad ones become irrelevant and a customer retention model is still applicable. Throughout
this article, Frederick Reichheld refutes claims that say that retention is not an effective method
to increase profits.

Frederick Reichheld is one of the most qualified marketing analysts in the entire country. His
education at Harvard Business School led him to found the loyalty practice at Bain & Company,
a top marketing firm. He has written a variety of articles about customer loyalty and has received
many awards for his marketing work. In this article, Reichheld explains why the customer
retention model he created with his firm is not flawed at all. Even though Reichheld tries to be
objective, some bias may remain since he has an invested interest in the topic. Despite this,
however, the article is still a valid resource since he deeply analyzes the opposition’s view and
objectively refutes it using evidence from prior studies. The article views both sides of the issue
and deeply analyzes the claims made by critics, so the source is still valid. Even though the
article was written in 1991, the source is still applicable today. Customer retention techniques are
still used in a variety of different industries. The focus of this article is merely to refute any
claims regarding the ineffectiveness of customer retention. Since these techniques are still used
today, his refutations stand. Even though the author does not provide any contact information, a
quick Google search reveals information about his expertise and his Twitter is readily available
to contact him. The effectiveness of customer retention can be corroborated by many sources,
like the Harvard Business Review, ​https://hbr.org/2003/12/the-one-number-you-need-to-grow​.
This article is clearly aimed at marketers in the field, intended to show the significance of
retention. Reichheld efficiently explains the importance of customer retention properly. The
information is neither too simple nor too complex.

Rosen, Judith. "Buying Customer Loyalty." ​Publishers Weekly,​ 15 Oct. 2001, p. 20. ​Professional
Collection,​
http://link.galegroup.com/apps/doc/A79412625/GPS?u=glen20233&sid=GPS&xid=4fc6
c055. Accessed 5 Mar. 2019.

This research article written by Judith Rosen assesses the effectiveness of customer loyalty
programs specifically for bookstores. Rosen looks specifically at a variety of different stores and
discusses the different approaches they use to attract and retain customers. One common
approach used by bookstores is to offer a membership with exclusive benefits, like frequent
discounts on items. The stores charge an annual membership fee, normally around $25, and
provide members with better deals than regular customers. The issue with this system, however,
is that shop owners are unable to directly determine whether or not this tactic is effective, since
they cannot calculate how many more books members purchase. Overall, however, there seems
to be an increase in purchases and members feel loyal to their store. Another common approach
is offering discounts to recurring customers. With promotions like “buy ten get one free,” many
bookstores are able to maintain their customers. Many bookstores that use this tactic claim that
it has been very effective so far. Another common approach is to send targeted postcards about
specific bestselling books and authors. These bookstores focus more upon creating a connection
with their customers and building brand loyalty. While this method can be effective, it often does
not work since it is extremely labor-intensive, and requires lots of time and resources to market.
One final approach Rosen discusses is trying specifically to target college students. Even though
it is a difficult market to enter, many store owners and managers explain that the benefits
outweigh the costs. These four tactics are commonly used by bookstores to increase their loyalty
and overall sales.

Even though Judith Rosen does not have specific education about content marketing, her analysis
of retention techniques in bookstores is still valid because of her familiarity with these stores and
many direct quotes from bookstore owners themselves. She has a degree in Writing and
Literature and is a main contributor for Publishers Weekly, a website designed for avid book
readers. In the article, Rosen explains a variety of techniques that bookstores use to retain their
customers, along with explaining the benefits. Even though she does not have a degree in
marketing, her ample experience with books and her numerous quotes from bookstore owners
and managers still validate the article. She deeply and widely looks at the different strategies and
evaluates their advantages and disadvantages. Even though the article was written over 10 years
ago, it remains a reliable source since many stores still use the outlined strategies. A variety of
bookstores still employ heavy discounts to encourage customers to shop with them. Although
Rosen does not provide contact information at the end of her article, a quick LinkedIn search
reveals her expertise and credentials. Ideas about the importance of discounts and detailed
displays can be corroborated by many sources including
https://publishingperspectives.com/2016/01/independent-bookstores-thrive-in-digital-age/ and
https://www.tckpublishing.com/how-do-bookstores-promote-books/. Rosen effectively describes
the various methods that can be used to retain customers.