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We all know that acquiring new customers is more expensive than persuading existing customers to buy more. It’s a marketing paradigm, and at the end of the day, quite easy to understand: There are additional costs to raising brand awareness (i.e. paying for online banners, SEM) Customers have to be incentivized to switch from another… Continue reading The 3 Step Reactivation Campaign to Win Your Customers Back
You may know it as Loyalty Marketing, Lifecycle Marketing or Customer Success Marketing, but it all boils down to – keeping customers happy and engaged so they keep coming back. It’s especially important if you’re in an industry where consumers make purchases frequently. Trying to retain customers is not a new concept. The reason why customers stay loyal is… Continue reading Build Customer Happiness Through Retention Marketing and Predictive Analytics
Clustering is a means of using algorithms to find and create customer segments by looking through hundreds of customer dimensions and millions of data points to find meaningful relationships with buying behavior. Clusters are mathematically derived and more effective than segmentation for creating groups of similar customers and describing the group’s behaviors. However, some marketers still… Continue reading 3 Wrong Ways to Segment Your Customers
In Predictive Marketing the term ‘clustering’ gets thrown around quite a lot. It’s the predictive marketing version of segmenting. Instead of grouping people, clustering simply identifies what people do most of the time. This allows us to predict what customers are likely to do without boxing them into rigid groups. Segmenting is the process of… Continue reading The Difference Between Segmentation and Clustering
“Data scientists, according to interviews and expert estimates, spend from 50 percent to 80 percent of their time mired in this more mundane labor of collecting and preparing unruly digital data, before it can be explored for useful nuggets” reported New York Times. One of the biggest difficulties with Big Data is that it is, well,… Continue reading Stop Working for Data and Start Making Big Data Work for You
Customer data collection is becoming more and more sophisticated and comprehensive. With the current set of tools available marketers can not only see who visited their website, for how long, where their mouse hovered, but also integrate all that information with data from brick-and-mortar, call centers, mobile, social media profiles and publicly available demographic information… Continue reading How Brands are Collecting Data without Losing Customer Trust
Last week, we took a look at how online retailers were going from Click to Brick, in response to consumers’ preference for shopping at brick-and-mortar stores. However, eCommerce is growing at ten times the rate of brick-and-mortar sales and is also an integral part of the shopping journey that ends at a brick-and mortar store. In… Continue reading Click-and-Mortar: 4 Ways to Digitize Brick-and-Mortar
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Consumers like to touch, feel, try and be able to buy products when they want something. According to A.T. Kearney’s latest report on Omni-channel Retailing, that’s why up to 80 percent of shoppers across different demographics & age groups prefer to shop at brick-and-mortar stores Given the finding from A.T. Kearney’s survey, it’s no surprise… Continue reading From Clicks to Bricks: How Online Retailers Are Making the Move to Physical Stores