Considering the competitive challenges 2009 promises, organizations must redouble their systematic customer retention efforts. Those tasked with building loyalty should make predicting and mitigating controllable attrition a top priority.
Retailers with stores in California, Florida and New York enjoy the greatest opportunity to capture a valuable share of the Hispanic market. But even though these metro areas feature high percentages of Hispanic consumers, they also are comprised of highly different groups of Hispanics. To serve this ethnic community at the local retail level—or the direct marketing level, for that matter—marketers need to dig deeper into demographic and lifestyle data by country of origin for households in specific geographic targets, posits a recent whitepaper, Breakthrough Merchandising for the Growing Hispanic Community. The whitepaper was developed by several experts at data solutions firm Acxiom Corp., including:
Look to your ultimate business objectives to determine what data is worthy to collect and keep By Irene Cherkassky Common practice suggests that when you start any endeavor, you always should start at the beginning. However, when it comes to data collection, it’s far more advantageous to start at the end. “Trying to decide what data you want without having a very clear picture of what it is you’re trying to do—what are the business objectives—[is like] shooting in the dark,” explains Chris Lucas, vice president of product management for the Sales and Marketing Solutions group at Short Hills, N.J.-based D&B, a global provider
Join the Exchange Question: What are your tips on keeping data accurate and clean? Answers: It's been determined that from 50 percent to 75 percent of a b-to-b direct marketing campaign's success rests on the accuracy of the list used in the direct marketing communications, whether it be by mail, e-mail or telephone. We all know that people change jobs within their companies or join a new companies. The question is how fast do people change their contact information. Direct marketers must target and communicate to the correct "buyer" within the company. Therefore, the problem is how to keep your own database
To Gain a Holistic View of Your Customers, You Need a Data Integration Plan By Scott Hambuchen No doubt you're aware that customer information is potentially your company's most valuable asset. And most likely your business already has some inherent customer data integration (CDI) capabilities, such as basic merge-purge and record grouping. But how accurate and complete is your customer data? Is it being duplicated through different business channels? Where precisely is the information warehoused? Is it contained in one location—or in several places throughout the enterprise? If you're not certain of the answers to these questions, you could be minimizing the effectiveness
Strategies for building a quality database By Don Hinman As a data consultant, I spend much of my time answering questions about customer information and how it is used to improve revenue and business operations. But with all the advanced data products available today, the question I hear most often is: "How do I build a quality database?" This question illustrates data's current place in the corporate world. For many corporations, customer data are partially unwrapped presents under the Christmas tree—so promising, so big and impressive. So intimidating. Yet many companies can't take advantage of the data products on the market because they don't