More often than not, I conduct Multichannel Forensics analyses for brands that are struggling.
There's a hope that the project will yield that "ah ha" moment, one that identifies the core problem.
And we do have those "ah ha" moments, moments that identify the core problem.
Seldom do we identify a problem that can be fixed quickly. Often, the problem isn't within or across channels. In fact, the problem seldom has to do with channels. The problem almost always has to do with merchandise.
One of the sins of the past ten years is an economy based on cheap money. For a decade, we became lazy. Demand increased, and a new channel (the internet) fueled perceived growth.
When cheap money went away, our lazy practices conspired against us. We used to offer the customer free shipping, then marvel at the 20% increase in volume. Now, sales are down 20%, and if we execute the free shipping promotion, we just get the business back to where it used to be, albeit with less profit.
There won't be any quick fixes. We spent more than a decade getting ourselves in this mess. Only excellence will pull us out.
Helping CEOs Understand How Customers Interact With Advertising, Products, Brands, and Channels
August 29, 2008
Multichannel Forensics A to Z: Quick Fix
Subscribe to: Post Comments (Atom)
I Don't Have Control Over New Customers Anymore
We dig into the findings of a Marketing Budget Experiment. The CEO is anxious, because 72% of Paid Social customers are new, while 28% are e...
It is time to find a few smart individuals in the world of e-mail analytics and data mining! And honestly, what follows is a dataset that y...
Sometimes you think "people already know this stuff". Sometimes you realize that Google Analytics give smart analysts almost no op...
If you want to understand why clients don't trust vendors and trade journalists, read this little peach from a week ago: Direct Mail is ...
Post a Comment
Note: Only a member of this blog may post a comment.