Chief Marketer recently talked with John Coe, president of Sales & Marketing Institute, and Jim Wheaton, co-founder of Wheaton Group, about why it is essential for B-to-B marketers to have both a CRM system and a proper marketing database.
Citi has been actively innovating credit card rewards programs to make sure its cards are the ones consumers reach for when they make a purchase. The issuer has taken a multi-track approach, piloting new ways to customize point rewards but also testing some distinctly different ways to redeem those points.
Is it possible to know one’s customers better than they themselves do? When it comes to next-purchase or defection behavior, marketers can use predictive modeling techniques to identify target populations most likely to respond positively to a variety of efforts. Consider the contrast of a campaign focused with great precision through predictive modeling with a…
At Eldorado Resorts, databases talk to each other before talking to guests. These conversations keep members of its loyalty program from being bombarded with too many solicitations—or, even worse, with inappropriate messages. This quantity control effort is relatively new. Up through the summer of 2010, Eldorado's various business departments, including its restaurants, casinos, showrooms, concert…
While it is true a great B-to-B salesperson is invaluable, Google and other prominent search engines have made finding new and/or unique suppliers much more efficient, thus altering the way many B-to-B buyers purchase items in their private lives
Marketers issued $48 billion in loyalty currency, such as points and miles, during 2010. If patterns hold, customers will redeem only $32 billion of them. Don’t count that $16 billion in breakage–unredeemed currency–as a win for marketers, however. Laying right alongside it in the till are missed opportunities to strengthen relationships with customers, as well…
Some businesses can survive with a once-a-year customer visit pattern. Swimwear vendors and Christmas tree sellers come to mind. Restaurants have a harder go of it. “We were considered a destination restaurant,” says Rafael Barbosa, marketing manager for Fire + Ice, a small chain of grilled-at-your-table eateries. “Bachelorette parties, birthdays. We weren’t considered a restaurant…
Now that the economy is seeing the other side of the recent recession, financial institutions are starting to wonder about the future of credit and debit card reward programs. Several factors are converging to prompt this question. Customers remain stressed economically, while government regulations—including those on fees credit card companies charge retailers—are increasing. With the…
Marketers who don't get enough information from recency, frequency and monetary (RFM) analysis can consider adding a fourth metric to their calculations: Tire tread measurements. Granted, this metric will only yield useful data for a limited number of companies. But Sullivan Tire Co. Inc. is one such company, and when tires on a customer's car…
For marketers, using data to determine which marketing communications contributed to generating a purchase helps guide media decisions. But capturing and incorporating these influences is difficult for marketers of all stripes—those focusing on consumers as well as industrial targets. And within the business-to-business arena, there are additional complexities. It is easy—and therefore tempting—to attribute a…
