Six barriers to meaningful Customer Value Analysis ……. And how to get over them
There can be little doubt that understanding how ‘value’ is distributed across their customer base is important to virtually all commercial organisations. Reflecting the value of different customers in everything from channel planning to marketing campaign selections and customer segmentation is a major business performance enhancer. And yet many reasons are found not to do this or not to trust the results.
Should we be marketing to toasters?
And fridges, TV's, cars and any of the other connected devices that will soon make the Internet of Things more widespread than the current worldwide network of connected people. The challenges to early adopters of Marketing to Things are only just becoming clear. This article considers some of the things they are facing.
Has the time now come for Information Sharing Agreements?
Whatever spin you put on the concept of customer communication consents and permissions they are rarely thought of positively, by the individuals who are asked to provide them or the organisations that know they must collect them. They are typically dragged out of people, who rarely understand what they are agreeing to. They then become a legal, administrative and IT nightmare for the organisations that have collected them.
What great customer data quality reporting looks like
Data Quality Reporting is one of those practices that can be more harmful if done badly than not done at all. At this very moment there will be many thousands of operational people and executives who incorrectly believe that their data is in good shape due to unintentionally bad quality reporting. They are not even thinking about fixing it as they have no idea that there is a problem.
Why is Last Name 'always' a Mandatory Field?
Whether it’s called Last Name, Surname or Family Name this field remains stubbornly mandatory in virtually every customer database that I come across in my work. This constraint can severely hamper organisations’ attempts to move their marketing and CRM activity into a world of social media and digital content.
How to place a 'value' on very poor customers
Many leading consumer product and service providers allocate a financial value to their customers. Their motivation for doing so is almost always commercial. The increasing number of organisations serving the needs of the World’s very poorest customers are also keen to place a ‘value’ on their customers. Their motivations for doing so are often more complex and the techniques they use need to reflect this.
How do we know when we ARE Customer Centric?
There can be little remaining argument that true customer centricity is massively deeper than any single attribute or characteristic of an organisation. Customer centricity has to be ‘balanced’ in its emphasis between providing great customer experiences and delivering the framework within which organisations can deliver fair and sustainable returns.