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Tue, 05/19/2015 - 18:38 - Peter Moloney
Predictive analytics improves marketing results. That's hard to dispute these days, but it's not quite right.
Relevant messaging and attractive offers improve marketing results. Predictive analytics has the "potential" to help.
It's only potential because there is so much involved in doing it right. There is a broad diversity of algorithms and approaches for all sorts of purposes. As a result, most companies enlist skilled data specialists and find themselves clarifying their objectives because the typical approach is going to be expensive.
But it does not have to be anymore, depending on what you want to do.
A Blog Series: Marketing Speak That Makes our Teeth Grind at Night – Part 2: ‘The 360 Degree Customer View’
Wed, 05/13/2015 - 16:09 - Mark Klein
Right now, with widespread recognition of the importance of relevant communications, the ‘360 degree customer view,’ is a frequently heard piece of marketing speak. It’s also a misleading piece of s*** if all you want to do is predict the buying behavior, risk, and product interests of each customer so you can properly target campaigns or personalize product offers and recommendations.
The idea behind ‘360’ is that with all the data companies are collecting about their customers, it’s now possible to build customer profiles that will identify which customers are good prospects to buy a given product.Read More ›
Thu, 04/23/2015 - 17:24 - Peter Moloney
According to data published by Caslon & Co. based on research by the DMA and PODi, personalized marketing content generates response rate 3x or more than static content for various marketing objectives, including ordering.
Read More ›
Thu, 04/09/2015 - 17:20 - Peter Moloney
Would you be interested in a machine or “magic box” that turns every $1 you put in it into $10? Sound crazy? Well, at Loyalty Builders we have one of those. It’s for retailers, CPG and B2B companies that have lots of products and lots of customers, and who target those customers with promotional campaigns.Read More ›
Mon, 03/30/2015 - 09:47 - Mark Klein
It happens so often there's even a catch phrase. “One and done” is what marketers call customers who make a single purchase and don't return for more. If a substantial number of your customers are one-time buyers, you have a serious business problem.
Very few companies make enough margin dollars from a first purchase to cover acquisition cost, so every one-time buyer is a hit to profit. Even if your company does profit from the first sale, having a large one-time population means missing out on revenue from follow-on sales.Read More ›
Mon, 03/16/2015 - 08:58 - Bill Vorias
In the Wall Street Journal recently, we read that IBM is about to invest $4 billion in “strategic imperatives,” including our favorite subject analytics. $4 billion is number that gets your attention (if you had the time and the patience to lay 4 billion dollar bills end-to-end, they’d go ‘round the earth approximately 16 times)!Read More ›
Wed, 03/04/2015 - 17:34 - Peter Moloney
Twenty years ago, if you wanted a marketing piece to look good, you had to go to a professional graphics service to get it typeset, and then a printer to get it printed. Now everybody can do that on a PC.
But then again, you can now use purpose-built templates to make your own just-about-anything: really good-looking marketing pieces, websites, emails, you name it. In other words, you can go a long way for a lot less time and money these days.Read More ›
Mon, 03/02/2015 - 09:07 - Mark Klein
There are several different names for relevant marketing: personalized marketing, individualized marketing, one-to-one marketing, micro marketing are some we’ve heard. Lots of companies want to do it, primarily for two reasons: customers are objecting to “one size fits all” spam, and vendors believe that relevance raises response rates. But whatever you call it, and regardless of your motivation, there is little consensus on how to communicate in a meaningful and unique way to each of your customers.Read More ›
Thu, 02/26/2015 - 07:00 - Mark Klein
If you knew the river was going to flood, would you head for higher ground? Of course you would.
If you knew more than a hundred new people would show up at your door to buy today’s special, would you plan to have that special in stock? You’d be foolish not to do so.
Now, if you knew which customers were likely to defect, or to buy certain products not previously purchased, what would you do? What would your emails say? Would you act differently than you do currently?Read More ›
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.Read More ›