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Do You Want to Shop Where They Analyze Your Eye Movements?

RSS Wed, 04/01/2015 - 17:50 - Peter Moloney

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I was reading a news item recently about another startup in the marketing analytics space. This startup analyzes eye movements as customers browse in a store and, based on that, tries to determine the customer’s interest in certain items, which triggers email offers to their mobile phones in real time.

Wow. I hope that company lists clients on its website so I know where not to shop.

Email promotions that personalize offers based on the interests of each individual customer will increase response rates. Okay, but how do you know what offers will be most interesting to each customer? That’s not so easy. If you have thousands of customers and hundreds of products or more, advanced analytics is the only effective way.

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Getting to the Second Sale

RSS Mon, 03/30/2015 - 09:47 - Mark Klein

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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.

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Marketing Creativity: What it Looks Like in 2015

RSS Tue, 03/24/2015 - 09:00 - Peter Moloney

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Marketing used to be a creative process, dominated by creative geniuses like Marshall Field, John Wanamaker, and Stanley Marcus; men who built great fortunes with their intuitive sense of what their customers wanted.

Marketing isn’t like that anymore. Analytics have replaced intuition - a less volatile, more dependable kind of creativity. Get the analytics right, and they will deliver accurate, actionable information about the thousands of customers you do business with but never actually meet. 

Analytics is changing, too. 

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The One-to-One Marketing Gap

RSS Fri, 03/20/2015 - Mark Klein

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The mantra of one-to-one marketers is "right offer, right person, right time."

But a great many marketers who think they're fielding one-to-one campaigns are deluding themselves.  In reality they're sending many customers the same communication under the mistaken assumption that those customers' needs are identical to others getting that communication. 

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Drowning in Data, Starved for Knowledge

RSS Wed, 03/18/2015 - 13:30 - Peter Moloney

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“We are drowning in information and starved for knowledge.”      
John Naisbett, Megatrends, 1982

Things haven’t changed much since Mr. Naisbett wrote his run-away best- seller 33 years ago. In fact, they’ve gotten worse. 

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