Halt Customer Defection
It is amazing how many companies continue to market to all active customers regardless of their contribution to the bottom line. Others rely extensively on the recency, frequency and monetary approach, which is not the most accurate way to do retention marketing.
A well-defined modeling strategy can fine-tune marketing efforts to reduce marketing expenses and maximize response rates.
Steve Briley is vice president of analytical services at Merkle Direct Marketing. He can be reached at SBriley@merklenet.com. Scott Cone serves as vice president of Merkle’s Database Group, and can be reached at Scone@merklenet.com.