From the category archives:

CRM

10 Marketing Trends for 2011

The meaning of marketing continues to evolve and how that changes the way we engage with our customers. Trends are emerging in customer engagement, how we integrate data, how we leverage marketing analytics. As marketers, we are also seeing social media usage mature, changes in mobile marketing and increased conversation about customer privacy. Customer touchpoint becomes a priority and understanding how all of these trends can work together will be the key to marketing success in 2011.

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Pareto’s Law or the Long Tail Theory? What Marketers Must Measure Now.

The foundational concept of all database marketing is the Pareto Principle, that 80% of your sales and profitability will come from about 20% of your customers. When we have analyzed our clients’ customer bases to prove out this theory, we often find that the distribution is even more uneven– that 100% or more of customer profitability comes from an exceedingly small group—because clients are actually losing money from some part of their customer population. The 80/20 theory often holds true for product sales as well – 80% of sales often comes from just 20% of the products offered by a manufacturer. This concept has driven everything in database marketing from audience identification to campaign structure, sales strategy etc.

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Understanding the Five Customer Relationship Stages to Full Engagement With Your Brand

As our clients juggle new channels, new technology and new media, we realize that their relationships with their customers and prospects have to be 24/7 and “always on”. How we help them with Analytics, strategy and marketing technology today really goes beyond just the marketing process, but helps them deliver a consistent and relevant brand experience across the entire consumer relationship.

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Understanding B2B Campaign Responses – Building a Methodology

SIGMA Marketing Group has recently completed an analysis of past B2B campaigns and we have discovered some important findings that are now guiding our campaign designs. We discovered that prospects respond at a significantly lower rate than customers. It’s also clear that response rates vary by the methodology used to conduct the marketing touch, with email prospecting consistently performing at the lowest response rate. We found that prospect response rates vary depending on the relationship the company has with the prospect, for example if the prospect is a past customer they are more likely to respond then other prospects.

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Are Personas the New Customer Segments?

The digital concept of Persona is catching up with the database marketer’s idea of Segmentation. The web experience has become richer and web strategists have embraced the idea of many personas and tooled the experience to deliver choices and personalization and different pathways to support the different groups of visitors. Marketers commonly talk about Personas in the plural form, and this is a great thing for improved relevance for consumers.

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Your Customer Segments Are on the Move!

Marketers have known for years that it is imperative to understand what customers their product or service appeal to. The fact is many of those traditional, tried and true methods of profiling, enhancing customer information in order to gain a more complete, descriptive view of your customers are still valid today. The challenge we often see, is that the customer, household and market has fragmented and often can render traditional, static segments obsolete. New markets are opening up and old markets are dying.

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What the Grateful Dead Can Teach Us About Consumer Insights and Marketing.

The Grateful Dead created a lasting legacy. You may not like their music, or identify with the culture and period of time when the band was at its high point, but you have to appreciate and admire what they cultivated in terms of followers and passionate fans. So, what does this have to do with marketing insights, targeting and all the other great stuff we talk about in our Fifth Gear Analytics Blog? Well, the book provides some interesting takeaways for those of us interested in consumer insights and using marketing analytics to improve our products and services.

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Distributed Marketing: An idea whose time has come for Technology Marketers

Distributed Marketing is a concept for delivering automated marketing services to small- and mid-sized businesses, resellers or other sales/service channels through a larger marketer who would act as a centralized enabler of data, analytics and technology.

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How Much Are Your Customers Worth?

As marketers, we have heard about it for years: It is important to understand the total value of your customers over the “lifetime” of their relationship with your brand, product or service. Makes sense, right? Why would you not want to understand the total impact a loyal customer can have on your acquisition and retention efforts based on this calculation? However, a great number of marketers we speak to still overlook future revenue opportunities by not recognizing the true lifetime value of current customers. Even though quite a number of companies can recognize differences among customers’ loyalty over a lifetime, they are often unable to quantify or act on those differences.

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The Web Content Management Maturity Curve

Web content management started as a nearly-exclusive responsibility of IT, the website group, or the agency responsible for digital publishing. Under the optimization phase, marketers are taking a more significant role in the management of content, with 36% taking an active role content authoring. This combined with the growth of the use of WCM to support marketing initiatives, has the marketing function with a significant stake in WCM technologies for the foreseeable future.

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