This week, head over to your database guru, and ask her to add "age of head of household" to your database.
It doesn't cost all that much to add this information.
What you learn will more than make up for the cost of adding the information.
Age information didn't matter much back in 2000 ... customers generally acted in a similar manner.
With the advent of search, mobile, and social, there are significant changes in customer behavior that can be better understood with an age overlay.
About 65% of my clients append this information. The information seldom predicts who will repurchase. The information almost always foretells what the future of marketing looks like. For classic catalog brands, the overlay is eye-opening.
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...