As the practice of marketing analytics is making a name for itself, and businesses are starting to catch on that they’ve been capturing all this great customer information. These same businesses are now starting to realize they should consider using it! If you are using predictive analytics to target your marketing campaigns, you should be seeing improvement in response rate from versus older campaigns where no predictive analytics were available. It is still common practice to send email campaigns or direct mail pieces to every contact in your list, hoping that mass distribution will lead to higher volume of responses.
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What exactly is relationship marketing? Is it just another buzzword to add to our list of ever growing terms for how we justify new marketing efforts, marketing budget transition and, shift in strategy? According to Marketing-Jive – it did not make the 2010 top marketing buzzwords list. It was, however, on the top 100 buzzwords list for 2008. Is it a thing of the past? My belief, with the explosion of social media is that relationship marketing is no longer the strategy, but rather the end goal.
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