What marketers want to measure and what they are measuring may be two different things, according to a survey from WebTrends. For example, only 19% are now measuring customer lifetime value, although 83% feel they need to do so.
For better or worse, the Web is perhaps the most infinitely measurable marketing medium we’ve got today. But that measurability can also be a hindrance to selling well on the Internet. How do you know what metrics are important for your specific situation?
Daniel Powell has been tapped to serve as president of Newgen Results Corp., a customer loyalty and business-to-business channel management services provider.
Where do African American entrepreneurs turn for business advice? Many are now going to www.izania.com, a Web site that in one year has experienced a 400% growth in traffic. And many are reading the weekly Izania e-mail newsletter.
Many marketers are treading gingerly around the notion of adding a blog to their Web site. But don’t count online jewelry retailer Ice.com among the pussyfooters. The Montreal-based e-commerce site has not one but three blogs up and running and linked to its Web pages.
What’s with this explosion of blogs? Every schoolkid has one. Every would-be author or philosopher has one. Every frustrated lover has one. That’s why a potentially informative medium already has its waters loaded with mud.
What drives engagement and loyalty for your brand? Wait, I’ll make the question easier. What drives engagement and loyalty for the category in which your brand competes?
I write about customer loyalty for a living, so it would seem that producing a monthly column for CHIEF MARKETER would be an easy task--until you realize how broad a topic loyalty marketing really is. What are we talking about, exactly? Points programs? Grocery-store discount cards? Cobranded credit cards? Dialogue marketing campaigns? Punch cards?
Most marketing execs pay lip service to the notion of accountability. But a staggering 84% say that their firms’ ability to measure Web marketing is limited at best.
“If you haven’t overcharged at least once, you aren’t charging enough.” On the surface, overcharging and potentially alienating customers may not seem like the soundest of marketing advice. But a series of tests conducted by MarketingExperiments.com, an online strategy consultancy, showed that there are no hard-and-fast rules when it came to pricing goods and services.
