May 01, 2018

MCI (Modern Channel Index) by Category

In a recent project I selected the top 500 selling items in the past year, and then classified the items into one of four segments.
  1. Newer Customers / Old Channels.
  2. Older Customers / Old Channels.
  3. Newer Customers / Modern Channels.
  4. Older Customers / Modern Channels.
Which segment represents the future of your business?
  • Newer Customers / Modern Channels.
Which segment represents the history of your business?
  • Older Customers / Old Channels.
I analyzed the top 500 items, splitting them out by merchandising category. Here's what I learned:

Widgets:

  1. Newer Customers / Old Channels = 4 items.
  2. Older Customers / Old Channels = 37 items.
  3. Newer Customers / Modern Channels = 6 items.
  4. Older Customers / Modern Channels = 8 items.
Pibits:
  1. Newer Customers / Old Channels = 8 items.
  2. Older Customers / Old Channels = 7 items.
  3. Newer Customers / Modern Channels = 26 items.
  4. Older Customers / Modern Channels = 5 items.
Widgets represent where the brand "was".

Pibits represent what the brand "will be".

Think about your marketing strategy for "Widgets".

Think about your marketing strategy for "Pibits".

When I talk about low-cost / no-cost customer acquisition strategies, I'm talking about leveraging Pibits in your digital channels and I'm talking about using Widgets in old-school programs to drive revenue among your long-term loyal customer base.

This isn't difficult stuff.

But it is readily actionable, isn't it?

What would stop you from doing this?

Business Principle #1