It’s All About the Offer: Marketing on the Left Side of the Brain
In effect, this chart (which shows actual data from a real company) ages this firm’s soft inventory. Instead of thinking about which style number to feature in a coming promotion, the marketer’s focus is deciding what actions to take to bring customers whose performance is lagging (upper left quadrant) back from the brink of defection—and what can be done to further solidify the behavior of customers who were “bad” but have recently improved (lower right quadrant). Whether customers whose performance is bad (lower left quadrant) can be improved is an open question, but one that can now be evaluated. The very real difference between product and customer focus is obvious.
Looking at customer behavior reminds us of the story of the man who dropped his house keys on a dark night and instead of looking for them where they’d been lost, insisted on looking for them under a lamppost because “that’s where the light is.” Marketing on the left side of the brain means moving the lamppost to where you lost your keys.
Marketing on the left side of the brain means quantifying customer behavior, gaining granular customer knowledge, and using it to target the right customers with the right offer at the right time. Sophisticated analytic tools are available to perform this challenging task. It’s definitely hard work; but it’s beneficial and it’s the future of marketing in the 21st century.
Mark Klein is founder and chairman/CEO and Arthur Einstein is vice president of marketing at Loyalty Builders, a marketing service company in Portmouth, N.H. Klein can be reached at email@example.com. Einstein can be reached at firstname.lastname@example.org.