Tue, 12/21/2010 - Mark Klein
Direct marketing to your existing customers, the best way to grow revenue for most companies, is like a three-legged stool. The three legs are customer data, customer analytics, and customer campaigns. Remove any leg and the stool falls over.
Without customer data, you’re flying blind - forced to use newspapers, TV, pay-per-click, and take a chance your customer will find your message. You can’t use personalized direct marketing and all the revenue lift it generates.Read More ›
Mon, 11/22/2010 - Mark Klein
What’s your gross margin on a typical first purchase? Is it less than your acquisition cost for a new customer? If your answer is yes (and that’s most companies), you have a one-time buyer problem.
Getting the second sale and solidifying a buyer as a profitable customer is one of the toughest jobs in selling. The problem is particularly serious for catalogers and on-line merchants. In our eleven years of helping direct marketers, we’ve learned how to size and solve this problem. What’s surprising is that the information you gather when sizing the problem is the key to the process you’ll use to solve the problem. You’ll learn which one-timers are more likely to buy again, when the best window in time is to make the approach, and what to offer them.
Fri, 10/29/2010 - Mark Klein
Wed, 10/06/2010 - Mark Klein
Aberdeen Group has just released a new research report by David White, “Predictive Analytics – Driving Sales with Customer Insights”. I think this is a ‘must-read’ for any marketer struggling to improve revenue. Right off the top I’ll make full disclosure: White’s case study for existing customer marketing describes the work Loyalty Builders is doing with our client Sullivan Tire. Even if the exciting Sullivan Tire story was not part of the report, I’d still urge you to read it. Here’s why:Read More ›
Tue, 09/21/2010 - Mark Klein
Acquisition is a problem for most companies. It’s often a bigger problem than they realize because they count an acquisition win as a customer even though only a single purchase has been made. The truth is, one-time-buyers don’t really become customers until they’ve made a second purchase.
Customer databases get divided into active and inactive sets. Most companies think of those names in their active file as “customers”, where “active” usually means the last purchase was within the past 12 to 24 months. But half or more of the names in most catalogers’ and online merchants’ active file have only made one purchase.