Marketing Speak That Makes our Teeth Grind at Night – ‘Find Your Best Customers!’
I see it all the time at trade shows – booths with signs that claim, “We’ll help you identify your best customers!”
My mind boggles at the idea that companies need help figuring out who their best customers are. Of all the many types of customers a company has, the best ones should stand out brightly. They buy the most, they’ve been around the longest – so they should be known to many employees, from shipping clerks to sales people to accounting. Even basic techniques like RFM can find these customers if you don’t already know them.
On the other hand, there are many customers who are a complete puzzle and do not stand out from the crowd in any obvious way. The questions that should be on the minds of marketers are, “Which customers have had their risk of defection jump in the last month?” or “Which customers are more likely to make a purchase in the next month?” or “Of all of our one-time customers, which ones are the best prospects to make a second purchase, what should we offer them, and when should we approach them?”
Questions like these are standard fare for the teeth grinders here at Loyalty Builders. The answers are not just detectable, but actionable. When you approach the marketing problems behind the questions from a data perspective, by analyzing customer behavior at the individual level using transaction data, it’s possible to create highly relevant marketing campaigns with greatly improved response rates that generate significant uplift over your current way of doing business.
So if those other questions, not the marketing speak, keep you up at night, then call us. We have answers (browse our website to see). Learn how our analytics can drive more revenue from your customers.