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Traditional customer re-activation strategies are struggling to deliver the results they once did. This has been fueled by cuts in consumer spending and communication channel fragmentation, forcing marketers to develop new approaches. A Target Marketing Magazine article told the stories of innovators who are leveraging customer data, analytical tools and new customer touchpoints to fuel [...] Just in case we get lost in over-analyzing everything, including customer data, Ron Ashkenas suggested that we step back and think about what is really useful in a post for the Harvard Business Review. Organizations love data: numbers, reports, trend lines, graphs, spreadsheets — the more the better. And, as a result, many organizations have a [...] Deliver Magazine reported that despite the ROI potential from data hygiene, many companies still haven’t cleaned up their lists. Data management is still a hot topic for many companies these days. Marketers too often focus on how best to use the data rather than spending enough time wondering whether the data itself is clean. Good data [...] Deliver Magazine told of a valid reason to regularly scrub mailing lists. Sure, mailings sent to the deceased get responses — but they’re usually from distressed family members commenting on how disrespectful and downright rude the company is for sending it in the first place. “Not only is this a waste of a company’s time and [...] The Aberdeen Group published a report in December, 2009 that explored customer database practices to reveal how organizations are capturing, storing, analyzing and acting on customer data. The Best Performing Organizations: Currently achieve 163% mean class Return on Marketing Investment (ROMI); 9% average year over year growth in ROMI The [...] Direct Marketing Magazine shared some ideas about predictive analytics. Predictive Analytics Road Map To get the most out of customer segmentation analysis, organizations could create road maps incorporating the following steps: Determine the Overall Business Objective. Get everyone on the same path and in agreement with what you want to accomplish, such as improving the yield on lead-generation [...] Direct Marketing Magazine shared some ideas about predictive analytics. Personalize Customer Relationships Segmentation is a way of grouping people or organizations with similar demographic profiles, attitudes, purchasing patterns, buying behaviors or other attributes. This helps to understand customers more thoroughly and thus market to them more effectively. Many businesses use segmentation to recognize that customers have some unique [...] This is the second part from Target Marketing Magazine’s invitation to take a look at who your customers really are. What Customers Believe Understanding customer beliefs leads to building a powerful brand and can pay dividends in creative presentations and communications. Psychographics, or attitudinal data, are generally established by evaluating the thoughts and feelings of various cohort [...] Target Marketing Magazine printed an invitation to take a look at who your customers really are. Many marketers think of customers in straight-forward terms: females, 45 to 60 years old, $75,000-plus household incomes, for example. These broad-sweeping descriptors have a place in customer definitions but aren’t the end in defining who does business with you. Many of [...] |
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