Ramsay's Kitchen Nightmares provide us with innumerable examples of the application of Multichannel Forensics (book, study) to everyday life.
In the series, Gordon Ramsay visits ailing restaurants, tasked with fixing the broken business within just one week.
The show has a predictable formula. The food (merchandise) needs an overhaul. The decor (creative) can be improved. Employee behaviors and process (operations) are addressed. Late in the show, a large group of patrons are recruited (customer acquisition) to dine on a revamped menu.
The show ends with a visit back to the restaurant a week later, to see how things have changed. At times, little actually changed, or the changes that worked are not implemented appropriately.
And so it goes with Multichannel Forensics.
In the first few days of a project, the rolling twelve month file analysis and migration probability table quickly indicate the health of a business.
At that point, the analysis is largely complete. A lot of programming takes place, in order to outline opportunities and illustrate what will happen in the future if different customer acquisition strategies are employed.
Like the television show, it is up to the Executive to make changes, if they need to be made.
It's common for folks to measure cost per new customer. Total Marketing Cost = $10,000. Total New Customers = 130. Cost per New C...
RFM is great for targeting one catalog to one customer. However, RFM is tough to manage in a multichannel environment. This becomes clear ...
If you don't like geeky math, please skip this post, because I am about to show you how the sausage is made! I have eight variables in...
Remember our e-commerce customer from yesterday ... 50% organic, 50% catalog driven? We mail a catalog, and the $3.00 matchback outcome is ...