Open Enrollment | Subscribe to Target Marketing HERE
Connect
Follow us on
Advertisement
 
Wendy Montes de Oca

Muscle Marketing

By Wendy Montes de Oca

About Wendy

Often referred to as the "marketing maven" by industry peers, Wendy Montes de Oca, MBA has nearly 20 years of experience in marketing, media, and publishing with expertise in multichannel, direct response, and Web marketing. Wendy has generated more than $150 million in total revenues for Fortune 500 companies, top publishers, consulting clients, and her own firm, Precision Marketing and Media, LLC. She is the creator of the groundbreaking SONAR Content Distribution Model and author of the best-selling book Content Is Cash: Leveraging Great Content and the Web for Increased Traffic, Sales, Leads and Buzz [Que Publishing, Paperback].
 

Mobile-First Marketing

Greg Hoy
Mobile Advertising Isn't Just for Big Brands Anymore
Oct 20, 2014

The increasing use of mobile devices, mobile Web, multiple advertising platforms and the advancement of network technologies creates new opportunities...



Making Social Sell

Jeff Molander
Why You Aren't Getting Appointments on LinkedIn
Oct 17, 2014

Ninety-five percent of sales reps using LinkedIn are getting few—if any—appointments. They're using premium services, Sales Navigator, sending InMail, joining...



Direct Mail for the Modern Marketer

Summer Gould
Stand Out With Texture
Oct 16, 2014

How can you get your direct mail to stand out in the mailbox? Have you considered using texture? Coatings do...



Reinventing Direct

Gary Hennerberg
5 Copy Approaches to Influence Gut Reaction
Oct 15, 2014

Call it a gut reaction, but oftentimes our prospects and customers make decisions and respond based on intuition, a hunch,...



Ruthless B-to-B Marketing

Ruth P.  Stevens
6 Great Blogs for B-to-B Marketers
Oct 15, 2014

In our fast-changing marketing world, a smart B-to-B practitioner keeps up to date by learning from thought leaders. While this...



Marketing Sustainably

Chet Dalzell
Truly Greening Digital: The DMA ‘Green 15’ Gain a Digital Edge
Oct 13, 2014

With little fanfare, the Direct Marketing Association just published a "refresh" of its "Green 15" sustainable marketing practices first announced...



The Power Punch

Carolyn Goodman
Do You Live Up to Your Brand?
Oct 10, 2014

As California suffers from one of the worst droughts in recent history, it was recently reported that the chairman of...



Big Data, Small Data, Clean Data, Messy Data

Stephen  H. Yu
Missing Data Can Be Meaningful
Oct 9, 2014

No matter how big the Big Data gets, we will never know everything about everything. Well, according to the super-duper...



Marketing Nuggets

Michael Lowenstein
Marketing Success Is (Almost) All About the Data: Optimizing Customer Loyalty Behavior Initiatives
Oct 7, 2014

Much of what I've learned over the years about sales, marketing and customer service has to do with the critical...



The Integrated Email

Cyndie Shaffstall
Client Maturity
Oct 6, 2014

As an agency, or even a marketing department, you must work with clients of every possible ilk. Oh sure, your...



Keeping Search Profitable

Amanda G. Watlington, Ph.D.
6 Keys to Search Success in 2014
Sep 30, 2014

What if someone gave you scientific data on what hundreds of sites are doing to get thousands of top keyword...



Brand Matters

Andrea Syverson
Is It Time for a True Goodbye?
Sep 16, 2014

As I reflected on a client interaction I had this week, I thought about how helpful it is for organizations...



Triple Venti Dolce Data...

Vince Pickett
Clue Me In, Please
Aug 21, 2013

So here we are, halfway through 2013. You, along with everyone, are still trying to find that magic formula to...



Who's Your Data?

Rio Longacre
Instagram: Does It Matter That It Will Make Money on Your Pics?
Dec 19, 2012

Instagram announced the company will soon begin using your content to sell targeted advertising products to the highest bidder. Does...



SEO & Content Marketing Revue

Heather Lloyd-Martin
5 Tips for Top Positioning (And Converting) Page Titles
Aug 11, 2010

Wondering about a SEO content strategy that offers the biggest impact in the shortest time? Try tweaking your page titles....



Here's What Counts

Chuck McLeester
Planning ROI? Turn the Funnel Upside-Down
Aug 26, 2014

Many marketers use a funnel to illustrate the progression from prospect to buyer because the narrowing graphic neatly shows the...



Yblog

Yory Wurmser
Privacy in the Age of Big Data
Jul 10, 2013

Consumers reveal more than ever before consciously through social media and, just as importantly, unconsciously through their behaviors. This data...



The Whole Magilla

Ken Magill
What Marketers Can Learn From Maine's Political Email Idiocy
Feb 24, 2012

It finally happened. Politicians' idiotic email practices had a measurable negative effect. "Maine Republican Party chairman Charlie Webster has admitted...



Online Video Marketing Deep Dive

Eve Grey
Are Your Videos Champions of Your Brand?
Feb 3, 2014

If you advertise in an ordinary way, it's safe to expect ordinary results. However, when you take the extreme and...



Think Mobility

Greg Hickman
‘I Can't Because, I Need ... ’
Oct 7, 2013

Does this sound like you? Have you ever set up a goal, but then realized (either quickly or too late)...



Denny Hatch's Blog

Denny Hatch
The Internet Can Make You a Chump—Forever!
Sep 25, 2010

Trouble is, the Internet is rife with misinformation and if you get caught advertently or inadvertently propagating this nonsense in...



An ABC Introduction to Data Mining for Dollars: Slicing and Dicing Your In-House List for Profit (Part 1 of 2)

 

One of the best ways to build your online business is to build your list; that is, your "database" of potential subscribers, customers or prospects. This may not be as sexy as social marketing, as robust as mobile marketing or as challenging as search engine marketing … but it is a viable way to harness the power within your own "house file" to maximize your marketing ROI.

Today, I'll show you how you can segment your database of names to boost sales, increase bonding and shorten conversion time. Data mining, list segmentation or strategic database marketing is basically the art of slicing and dicing your own in-house list of names for optimal performance. You do this to help increase the response of your promotional and conversion efforts.

You see, once you divide your list of names into smaller groups (known as segmentation), you can target your product offers and promotional messages to each of those groups. By customizing your marketing messages based on specific customer needs, you'll be promoting products to people who are more likely to buy them. You increase your customers' satisfaction rate as well as your potential conversion rates. And higher conversion rates mean more money for your company.

One data-mining model is the RFM method. It's practiced by direct response marketers all over the world. "R" stands for Recency—how recently a customer has made a purchase. "F" stands for Frequency—how often the customer makes a purchase. And "M" stands for Monetary—how much the customer spends. Here's how you can use the RFM method to help lift your sales.

Recency
Whether your house list is made up of people who signed up to receive your free e-zine or people who paid for a subscription, you can segment your database according to how long your subscribers have been with you. For instance, you can create categories such as: 0-6 months, 6-12 months, and 12-plus months. You would look at these groups as your hot subs (newest subscribers 0-3 months), warm subs (mid-point subscribers) and cool subs (those who have been subscribing to your e-zine the longest, 12-plus months).

Here's one way you can put that data to use …

Let's say some of your "cool subs" have lost their initial enthusiasm for your e-zine. You could cross-reference those names with their open rates. If most of these subscribers haven't been opening your e-zine in six, nine or 12 months, you may consider sending them a special message asking to reengage them. These "inactive" subscribers are a great group on which to test new marketing approaches, new prices and new subject lines. Since this group is not responding to your current emails, why not use this as a platform to reengage AND test? Your "hot subs" are your newest, most enthusiastic subscribers. They are ripe to learn more about you, your products and your services. If you handle this group properly, you can cultivate them into cross-sell and up-sell customers.

For example, send your "hot subs" a special introductory series of emails (also known as auto responder series). This special series would encourage bonding and introduce readers to your e-zine's contributors and overall philosophy. It could also tempt readers with specially priced offers. Sending an introductory series like this can not only increase the number of subscribers who convert to paying customers, it also increases their lifetime value (LTV)—the amount they spend with you over their lifetime as your customer. Hot Tip! Make sure to suppress the recipients of your auto responders from any promotional efforts until the series is complete to ensure more effective bonding.

If, instead of subscribers to a free e-zine, your house list is made up of people who paid for their subscription, the same segmentation process applies. You break your active subscribers into hot subs, warm subs and cool subs. You also break out "expires" (those who allowed their subscription to run out) and "cancels" (those who cancelled their subscription).

Cross-marketing to these lists is usually effective. The expires oftentimes simply forget to renew and need a reminder. And just because someone cancelled one subscription doesn't mean they may not be ideal for another service or product that you provide. If they're still willing to receive email messages from you, add these folks to your promotional lists. Once you've gotten these cancelled subscribes to open your messages, turning them into paying customers is just a matter of time. Most Internet marketers would have written these people off. So any revenue you get from them is ancillary.

Next time, I'll go into Frequency and Monetary, the two other components of the RFM model. So stay tuned!

Sections:

COMMENTS

Click here to leave a comment...
Comment *
Most Recent Comments: