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In this ongoing series, we ask executives, entrepreneurs and business leaders about mistakes that have shaped their business philosophy. CMO, Patrón Tequila By Beth Newhart Background:   Patró​n Tequila is a luxury tequila and spirits brand crafted in Mexico. Lee Applbaum has served as its chief marketing officer since 2013. The Mistake: When I started in marketing after grad school in the mid-90s, there was a lot of emerging emphasis around consumer segmentation in marketing. I had a tendency to fall in love with this idea of really robust consumer segmentation. It wasn’t just gender, ethnicity, age or geography. It was all of those variables plus all...

Here’s How the Loan Origination Process Works If you’re new to the whole home loan, car loan, or just the loan process in general, the entire experience can seem very intimidating.  After all, loans affect your credit worthiness and can either make or break your financial future.  That’s why it’s so important to understand not only how a loan will work (interest rate, maturity, etc.) but also how the process of getting a loan works.  This process is known as loan origination.  Loan origination begins the second you put in your application and ends with approval or denial.  Here’s the loan...

In my humble opinion, modern influencer marketing is traditional public relations pitching corrupted by huge Madison Avenue advertising money. Big celebrities and even bigger bucks. It used to be thousands of dollars-per-post, but now brands and agencies are signing partner contracts with digital, social media, and online influencers. These partnerships can include multi-year contracts which are getting tighter and more exclusive the more these same influencers are being dropped by advertisers such as YouTube, Google AdWords, and Instagram. Now there’s micro-influencer marketing. Instead of swinging for the fences and spending thousands to hundreds of thousands of dollars on only...