2009 is the year of change - incorporation of a new president, diminishing marketing budgets, customers that are watching every penny, and the threat of a worldwide recession. How do you ensure that your marketing dollars are spent efficiently with the most bang for your buck?
The Nielsen Company
The best way for marketers to make the most of their customer relationships is to understand their customers' needs, wants, values. That’s precisely why customer segmentation is so vital—it provides valuable information about customers so marketers can furnish stronger, more targeted offers.
The trouble is customer segmentation comes with its challenges, and marketers often trip up during the process. Here, industry professionals discuss common mistakes marketers should avoid when performing customer segmentation.
Before marketers can manage their customer relations, it may help to visualize what their customers will experience. Hence, the Silicon Valley software and services company Chordiant created Chordiant Cx Visual Business Director to simulate, then track—down to an individual agent—how customers interact with businesses.
We have learned a great deal from database marketing in the last two decades. The following is a list of the 24 essential techniques used in database marketing. Anyone who works in marketing today has to be familiar with, and be able to use, all of these methods. Test your knowledge with this checklist. #1—LTV Customer lifetime value can be calculated in any industry, B-to-B or B-to-C. It is used to guide direct marketing strategy. In the early days of database marketing, few marketers knew how to calculate it or how to use it. Today it is widely practiced. #2—RFM RFM
Retail-based businesses are facing turbulent times. The intense pressures of sophisticated competition, new information technologies, litigious practices and new accounting rules combine to produce an unstable and unpredictable marketplace. As a result, devising successful growth strategies is difficult. Geographic market selection and real estate strategy, in particular, require a new focus. http://resources.targetmarketingmag.com/xxxxu
This paper provides a structured approach to organizing both internal and external business information resources. The techniques proposed will provide you with useful information to develop high-level strategic plans, as well as tactical day-to-day communications and targeting programs designed to maximize sales resources. This document spells out, step-by-step, how to understand goals, define measures that play into those goals, prepare data, create a modeling database, develop meaningful Business-to-Business segments and apply the analysis throughout an organization. http://resources.targetmarketingmag.com/xxxx/
Across all industries and company size, growing revenues is a top priority for organizations. This holds true for all business models: business to business (B2B), business to consumer (B2C), not-for-profit, and for those that perform the “marketing two-step” (B2B2C). Moreover, top-line growth is not the only pressure faced. Marketers also seek to do more with less. They are pressured to identify and invest in their most valuable or profitable customers while optimizing both budgets and resources applied. http://resources.targetmarketingmag.com/xxxx/
Claritas BusinessPoint™ facilitates all aspects of the businessto- business marketing cycle in an online environment. A subset of BusinessPoint is the Market Focus Customer Analysis module—an online service providing business marketers a more dynamic and effective list matching and merging service. Though slightly similar to traditional list matching services provided by other service bureaus, BusinessPoint’s Market Focus Customer Analysis provides the unique ability to match a business-to-business customer file online, in real time, 24 hours a day. http://resources.targetmarketingmag.com/xyz/
By Hallie Mummert Personas and integrated marketing help Sovereign Bank deepen relationships. Financial institutions, as a whole, often have been characterized as stodgy, pompous and, well, institutional in their marketing approaches. These attributes no longer fit. Today, banks are catching up to their multichannel compatriots in other business sectors. In some instances, they are even leading the way. For Sovereign Bank, a $59 billion financial services firm with headquarters in Reading, Pa., and more than 650 banking offices across the Northeastern United States, the overarching goal is to offer the services of a large financial corporation while providing the personal attention of
How custom segmentation helps The San Diego Union-Tribune find new subscribers Like at all major newspapers, it has become harder and more costly for The San Diego Union-Tribune—the second-largest newspaper in Southern California—to find new subscribers. To develop marketing and sales plans to approach consumers differently based on their lifestyle and circulation habits, the marketing and circulation team at the Union-Tribune determined it needed to develop a custom segmentation system. Two recent business changes helped propel the marketing and circulation team’s challenges. The first change was internal: The Union-Tribune recently started to promote four-day and Sunday-only subscriptions; previously only seven-day subscriptions had been pitched