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| Posted on 01/27/2012 by
Geoff Miller |
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| What’s New in Automotive Marketing? The Increasing Use of Non-Cash Marketing Offers |
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Each day I look forward to going through my mail, not email but the old fashioned kind I get in my mailbox at home and work. It’s probably an occupational hazard with me, where I just have to understand why Company A sent me offer B, and why Company C thought I’d respond to offer D. One trend that has caught my eye recently is the use of non-cash or non-traditional offers in marketing solicitations. Despite what Jimmy Fallon has said in his Capital One commercials about how nearly everyone wants more cash, there seems to be a movement toward non-cash offers. The impetus behind these kinds of offers is the assumption that the consumer’s perceived value of them is higher than the actual cost of the incentive and therefore the company making the offer can make more money if response is not diminished. For example, a consumer responding to a non-cash offer perceived to be worth $50, ... 
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| Posted on 01/04/2012 by
Mike McGuirk |
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| Engagement Analytics: Can You Turn Customer Interaction Data Into Business Intelligence? |
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In a never ending search to identify opportunities for competitive advantage, companies are shifting their focus towards creating a better customer experience - and engagement analytics can help. According to a recent Forbes article focused on demand generation, “If CMOs want to drive growth, they need to engage with the Buyer on their terms.”
From our perspective, you can take that concept further and leverage customer interactions to improve the customer experience throughout their lifecycle, from new customers to the most loyal. If customers believe you provide a superior experience to your competition, then they will choose your brand when their needs arise.
But in this day and age when customers can engage with ...
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| Posted on 12/08/2011 by
Don Ryan |
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| What Customer Analytics Matters to Marketers: A Discussion |
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I had the opportunity to participate in a panel discussion recently sponsored by the Boston chapter of the American Marketing Association that focused on how companies were using data and customer analytics to drive marketing activities and what the trends are.
The interest in the topic was exemplified by the large and energetic crowd. Although our moderator had prepared a set of questions for us as a guide, he needn’t have bothered as the session quickly devolved into a lively Q&A exchange.
The session kicked off with a brief review of some findings from a newly released IBM study of CMO opinions worldwide. The study found that CMOs feel unprepared to deal with the data explosion, social media, and the growth of channel and mobile devices, am...
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| Posted on 11/18/2011 by
Rafael Bradley |
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| Selecting the Best: Matching a Marketing Analytics Solution to Your Decision-Making Needs |
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As a manager at some point you have probably found yourself asking the question, “what’s the best marketing plan I can develop?” Any time you ask a question with word “best” in it, you are asking a question about optimization.
Based on the experience with our clients, we’ve found that the optimization questions a client has are usually related to their level of decision-making.
Typically, senior executives are planning at the portfolio level. Their questions are often centered around how to best allocate marketing investments across channels and audiences.
On the other hand senior managers may be responsible for developing targeted marketing programs. Their questions may have to do with how to best allocate investments within a campaign or how to select and target ”best customers” within a list or segment.
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| Posted on 11/04/2011 by
Ken Howes |
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| Prevent Customer Churn – Ways to Save Your Revenue |
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Customer churn is like a leaking faucet that, if left unchecked it can erode the foundation of your business. So getting a handle on what’s causing it and what can be done to fix it is critical, especially in highly competitive marketing environments.
Companies often rely on customer service agents to “save” customers who call to say they are taking their business elsewhere. But by this time, it is often too late to save the relationship. The customer may stay if you offer them a substantial discount, but without a good understanding of why they want to leave and what can make them stay, the discount is only delaying the inevitable.
So what can you do?
Predictive Models Can Improve Customer Churn
One action you might consider is developing a statistical model that can help you predict the likelihood and timing o...
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ABOUT iKNOWTION |
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iKnowtion is a marketing and analytic consultancy that helps Fortune 1000 companies optimize the impact of marketing
expenditures from demand spending to customer focused initiatives.
iKnowtion's industry knowledge and expertise,
combined with a comprehensive and proven analytic approach provides Global leaders in automotive, financial services,
retail and consumer goods businesses with the marketing insights and analytical engines required to dramatically
improve business results. Founded in 1999, the company is headquartered in Burlington, Massachusetts. To learn
more about us, please visit www.iknowtion.com.
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ABOUT Wiseguys |
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With so much change going on in the field of marketing, we felt that it was high time we try to stimulate
a dialog that focuses on the significant transition taking place within the marketing sciences area of many
companies.
Most experienced marketers agree that new tools and approaches are needed to help allocate and measure
marketing resources more effectively. If you're trying to tackle these kinds of issues in your company, join us
at Wise Guys - we'd like to hear from you.
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