Must Read Classic Articles (continued)
These articles are keepers for customer retention
oriented, Data-Driven marketers; they are selected primarily because they
provide very short-in-supply case studies, metrics, or process models for
relationship marketing, customer retention, or customer loyalty marketing on the
Web. This is an archive; for the latest check out the blog.
CIO
as Marketeer
June 24, 2002 Optimize Magazine
For those of you who don't know Regis McKenna, he wrote the break-through book
Relationship Marketing back in 1993 - way before anybody had even heard of
Peppers + Rodgers. His Lifecycle-based
approach is the framework I built my career success stories on, and now he
says the CIO is really going to be driving marketing in the future.
Hmmm... that must be why more IT people buy
my book than marketing people!
Back
to Basics
June 19, 2002 Direct Magazine
Here's 20 ways to make database marketing pay off. Sometimes I get the
feeling the folks in CRM would be happy with just one
way, and guess what #1 is: Trip Wire
Marketing. Don't forget you heard it here first - a
year ago.
Measuring
ROI in a Web-Based World is More Than Meets the Eye
June 19, 2002 DM Review
Ah, the KPI - or KBI, depending on who you follow. Key
Performance / Business
Indicators are the next generation of web metrics.
Same problem though - unless they are actionable, metrics are useless.
So read this article and then create your own actionable web metrics by downloading
this web metrics calculator.
Hitting
the Target
June 19, 2002 Internet Retailer
Most people don't know how to use SEO and PPC together correctly to increase
profits. You optimize the pages, get your rankings, then fill in with paid
keyword search. Don't know what I'm talking about? This article
gives a great overview; then read this one.
10
Reasons to Do Web Site Analysis
June 14, 2002 DM News
Well, there is really only one reason I can think of - to make more money.
So this is really a list of 10 areas you should analyze to help you make more
money. But it doesn't tell you "how". To find out
"how", click here.
Amazon’s
new interactive special offers
force customers to decide now
June 12, 2002 Internet Retailer
You know, the smartest retailers on the web are learning from the best retailers
on the web - the TV Shopping Networks. Makes sense, now? Those of us
who did time in TV shopping have seen this
interactive movie before, and know exactly how it
plays out. Amazon's new trick is a version of the "counter"
we invented.
Finding the Value of an E-Mail Name
June 5, 2002 DM News
How much do you pay per name to rent an e-mail list, and how much do you pay for
a new customer from this list? Ever thought of what the value of that name
over time might be? The LifeTime Value of an valid
e-mail address, by one of the masters - A.M. Hughes.
The
Little Banks That Could
June 3, 2002 CIO Magazine
I love this! They are making it happen. Banks are notorious for
letting the easy money slip through their fingers. It's great to see even
the smallest banks, with small IT investments, are able to bring up their own
simple version of CRM and make money doing it. Perhaps you would
like to
give Simple CRM a try?
Sell
the Whole Story
June 1, 2002 Target Marketing
One of the things most web retailers have not figured out yet is merchandising,
as I have said before. This article is written about
catalogs, but most of the points made transfer directly to the web. Photo,
copy, eyetracking, propping - if you want to increase your sales
per visitor, hire some catalog layout people.
Who
Wants a Relationship Anyway?
May 30, 2002 CRMCommunity.com
Story of my life - being early, and nobody listens. Apparently, customers
don't want a "relationship" with companies - they just want good
service and some communication. Do tell. I wrote the very
first page for this web site on October 22, 2000 and said the same thing -
explaining "Relationship" didn't mean "buddy buddy" it meant
"two-way exchange" - the page was titled Relationship
Marketing.
Reichheld is a guru; I think the
others are running the programs. Interesting there is no mention of
profitability on these programs - here's one with
a 252% ROI.
Catalog Yields 'Uncommon' Benefit for
E-Tailer
May 20, 2002 DM News
Another story about online retailers making a boatload of money offline with a
catalog. Lots of stats on order size and so forth. Folks, online
retailing is the catalog business, so start planning your catalog now if
relevant. And before you mail it, make sure to score your customers for likelihood
to respond and future value.
What
are Your Customers Worth?
May 17, 2002 Optimize Magazine
Very well written and practical discussion of LifeTime Value,
with lots of stats and examples. It is also the first article I have seen
take my position on what is really important to understand about LTV: relative
change.
Channel Crossing
May 17, 2002 Catalog Success
Multi-channel operators pay attention: this article is chock full of ideas from
the people who really get multi-channel. If you are thinking of adding
online to your offline, or offline to your online, a must read.
Focus
on Fulfillment: Omaha Steaks
May 17,
2002 Catalog Success
Ever wonder how these guys do it? Certainly one of the most tricky
fulfillment ops around - remember when the dot-coms couldn't even get the
right product in the right box? This is also a great "kitchen table
start-up" story, back when a start-up meant real risk for the players as
opposed to burning venture cash.
S.O.S.
Yields $$$
May 15, 2002 Direct Magazine
Think CRM is only for the big guys? How about a smallish bank making $100
in profit per call on outbound "save a customer" and "upgrade a
customer" calls triggered by a simple predictive
model. You can get your own Trip
Wire Marketing program right here.
Heavy Lifting
May
7, 2002 Direct Magazine
This article covers some rarely seen material on the idea of marketers actually
decreasing the LifeTime Value of a customer by spending
too much on them. This happens because they don't understand the customer LifeCycle,
and you don't need a fancy regression model to like Rodale's to predict
customer defection.
A NEW Setting
May 7, 2002 Direct Magazine
Great story with lots of details on and stats multi-channel retailer
Ross-Simons. Pay attention to what is being said about merchandising,
folks. This will be he next big area for web retailers to conquer after customer
behavior profiling. It's all about productivity - which products
generate the highest value new customers?
Pagination Ping-Pong
May
7, 2002 Direct Magazine
Speaking of merchandising, or increasing the productivity of product
sales per square foot / per catalog inch / per web site page, here is an article
to get you started. This is nothing you can do to improve the profits from
existing buyers more than merchandising. One way to do this is to find out
which products generate new customers most likely to
buy again.
Whatever
Works - Where Product is King
May 1, 2002 Catalog Success
I don't talk to many web retailers who really understand what business they are
in - the catalog business. When you read a classic story like this
one about the founding of a catalog, you have got to wonder - how is it possible
web retailers are losing money? In the old days, you had to put out some
real money on space ads in magazines. Now, all you have to do is buy
nickel ads on Overture to make a pile of money in a niche business. I have
one client that makes $25 in profit for every $1 she spends on Overture. I
have another who does over $2 in profit per visitor.
Find a niche and be the best. Need
help?
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