In this age of big data, big claims and big hopes about maximizing the value of data to create sales, marketing analytics plays a central role. Despite all the attention it receives, there are some enduring misconceptions about what marketing analytics can and cannot do. Here are four top “urban legends” about how marketing analytics… Read More
Customer Marketing to the Rescue! We all know these are tough economic times. That message was reinforced for me again yesterday when I got a call out of the blue from a marketing analyst at a company not on my radar screen. She was charged by her VP with setting marketing priorities for next year…. Read More
As regular readers here know, we’re passionate about testing at Loyalty Builders. It’s the quickest way to improve your marketing campaigns. We recently got to thinking and talking about power calculations made after a test comparing campaigns A and B was completed (remember: power is the ability of a test to detect an absolute difference)…. Read More
Back around 1999, when new products were being introduced as fast as you could put up a website, brand building underwent a quiet revolution. With markets moving at warp speed there simply wasn’t time to build trust and reputation the traditional way – by advertising. In that super-heated environment the best way to build a… Read More
Ten Reasons Marketers Ignore the Benefits of Customer Analytics Tools 10. Ignorance: They’ve never heard of customer analytics being used effectively in marketing. 9. Irrelevance: Most of their customers are one-time buyers, so how could data-driven marketing help? 8. Overconfidence: They think their current marketing program is working fine. They already know who their best… Read More
We believe that there is a big fallacy buried in the strategy of companies that use direct mail. Most direct mailers, especially catalogers, have a ‘house list’ of customers to whom they mail. This list is scored by one methodology or another, for example recency or RFM (Recency, Frequency, and Monetary value). These companies usually… Read More