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Loyalty Builders Marketing Blog

I know your business is different. So what?

RSS Mon, 07/30/2012 - Arthur Einstein

After 12 years doing customer analytics the phone keeps ringing. 

More and more business people are seeking us out because of the growth of behavior based marketing. But even in the face of the good results we’ve gotten for our customers, some are skeptical.

“I don’t know if you can help us,” they’ll say, “because our business is different.”

This drives us crazy!

Of course their business is different.  But for marketing purposes who cares?
 What matters is that their CUSTOMERS are different.  And we’re not talking just about differences in demographics.   

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The Stone Age didn’t end because they ran out of stone

RSS Wed, 06/27/2012 - Mark Klein

These days, I’m a walking contradiction of confidence and frustration.

The confidence comes from the day in / day out, consistently great results we are helping our customers get with their direct marketing.  Yesterday one of our customers reported the results of an email campaign to almost a half million of their customers.  Half got their business-as-usual, spray-and-pray standard email.  The other half got individualized emails, with each customer being offered products that we determined they were ready to buy. The individualized emails produced $0.99 MORE REVENUE PER EMAIL than the one-size-fits-all message. When you multiply by the total number of emails, that’s a very big revenue lift.

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The Data Wars

RSS Wed, 05/16/2012 - Mark Klein

The reason we collect data is to answer questions.  For marketers, those questions are usually about customer buying behavior—who is ready to buy, what they are likely to buy, which customers might defect. But marketing data is in trouble.

Lately, with Google snatching customer information wirelessly with drive-by mapping cars and companies surreptitiously tracking customer behavior on their web sites more questions are being raised by data than are being answered by data.  The war between the data hounds and privacy advocates is heating up.

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My dog learns faster than IBM

RSS Thu, 04/26/2012 - Mark Klein

Granted, I have a smart dog, a young poodle named Charley. It usually takes only a few days and a few treats for Charley to master a new skill. Many traditional marketers have a harder time with something new, and we know about the difficulties of teaching old dogs new tricks.
I’m talking about marketers learning alternatives to RFM (Recency-Frequency-Monetary value), an old-fashioned but popular method for scoring customer behaviors. Just today I saw two more organizations still leaning on this outdated crutch.

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New Customers or New Business

RSS Fri, 02/03/2012 - 16:09 - Mark Klein

Companies grow top line revenue either by adding new customers or by selling more to their existing customers. Customer acquisition is a systematic, well-understood process bolstered with a technology assist through marketing automation software from vendors such as Eloqua, Marketo, Pardot, and Loopfuse. Raising revenue by selling more to existing customers is not nearly as well understood, with a variety of practices and an even wider variety of results.

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