Looking for a some light weekend reading? Why not plow through ten or more pages of the Q3 Neiman Marcus earnings transcript!
You'll see that online sales declined last quarter --- though so many VCBs (vendors, consultants, bloggers) keep telling us that all is good in e-commerce (maybe not for Google next spring ... what happens to your business when people slow their searches for merchandise), we can dig through results and find that the days of unfettered e-commerce growth are ending.
Leadership mentioned that the online business has a much more diverse customer base than stores have. This is one of the mysteries of multichannel marketing that almost nobody talks about. We're told we have to serve that same magical multichannel customer across channels, only to find out that there are hardly any multichannel customers out there. Then we're left dealing with managing diverse audiences with limited tools, which is pretty much where all of us are.
All of the magic happens when we serve diverse customers who use channels in unique and different ways.
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...
It's common for folks to measure cost per new customer. Total Marketing Cost = $10,000. Total New Customers = 130. Cost per New C...