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The Relative Influence of Economic and Relational Direct Marketing Communications on Buying Behavior in Business-to-Business Markets
Business-to-business firms spend significant resources in direct marketing to manage close relationships with their customers. Nevertheless, there is limited understanding of how the effectiveness of direct marketing communications varies by value propositions. Typically, direct marketing efforts are geared toward explicitly featuring economic or relational values. To implement an effective communication strategy catering to customers' preferences, firms should understand how customers consistently evaluate these organizational marketing communications, which ultimately affect their buying behaviors. Therefore, the authors analyze marketing messages and employ content analysis to capture the two distinct types of direct marketing communications. Using data from a Fortune 500 business-to-business service firm and a robust econometric model, they find that the (1) effects of economic and relational marketing communication on customer purchase behaviors interplay and vary over time, (2) latent stock of direct marketing communication affects customer purchase behaviors, and (3) evolution of customers' perceived importance can be recovered using transaction data. Overall, the authors provide a marketing resource reallocation strategy that enables marketers to customize marketing communications and improve a firm's financial performance.
Journal Article
When will I be successful? The use of social media in agricultural direct marketing in Germany
In modern agriculture, social media offer a promising opportunity for the direct marketing of agricultural products. The present study examines the influence of social media on the success of agricultural direct marketers in Germany and identifies the conditions that promote or inhibit its use. The study utilises a comprehensive survey of 208 direct marketers and an exhaustive analysis of social media data to ascertain the social, demographic and business characteristics of the users. The findings indicate that, despite the substantial potential of social media, a considerable proportion of farmers are still reluctant to actively use these channels. The most frequently cited barriers are lack of time, and technical expertise, as well as uncertainties regarding the creation and planning of content. A key contribution of this research is the comparison between subjective perceived success and objective performance indicators, such as engagement rate on platforms such as Instagram and Facebook. This comparison reveals that strategic, authentic behaviour on social media, such as sharing content from everyday farm life, has the potential to markedly enhance the connection between farmers and consumer. However, despite the growing importance of social media for agricultural marketing, many farmers lack a clear social media strategy.
Journal Article
Direct Marketing, Indirect Profits: A Strategic Analysis of Dual-Channel Supply-Chain Design
The advent of e-commerce has prompted many manufacturers to redesign their traditional channel structures by engaging in direct sales. The model conceptualizes the impact of customer acceptance of a direct channel, the degree to which customers accept a direct channel as a substitute for shopping at a traditional store, on supply-chain design. The customer acceptance of a direct channel can be strong enough that an indepent manufacturer would open a direct channel to compete with its own retailers. Here, direct marketing is used for strategic channel control purposes even though it is inefficient on its own and, surprisingly, it can profit the manufacturer even when so direct sales occur. Specifically, we construct a price-setting game between a manufacturer and its independent retailer. Direct marketing, which indirectly increases the flow of profits through the retail channel, helps the manufacturer improve overall profitability by reducing the degree of inefficient price double marginalization. While operated by the manufacturer to constrain the retailer's pricing behavior, the direct channel may not always be detrimental to the retailer because it will be accompanied by a wholesale price reduction. This combination of manufacturer pull and push can benefit the retailer in equilibrium. Finally, we show that the mere threat of introducing the direct channel can increase the manufacturer's negotiated share of cooperative profits even if price efficiency is obtained by using other business practices.
Journal Article