August 26, 2018

Attention!!

Most readers love to employ a Vendor-Centric Marketing Management System. If you don't believe me, read all the vendors the Internet Retailer Top 500 leverage just to run a website ... modern commerce has been overwhelmed by the Vendor-Centric Marketing Management System.

This means that there are myriad opportunities to do things that are not promoted by the Vendor-Centric Marketing Management System folks.

Look at your own data - you'll quickly see that the first eight weeks after a first purchase are THE MOST IMPORTANT timeframe in the life of the customer. There's no arguing this ... just look at your own data. I've yet to have a client where this isn't the case.

So if we know this is a fact, then ask your 1,493 vendor partners to bend their tools in your favor. Ask them to innovate ... ask them to provide solutions designed to get the first-time buyer to buy for the second time in a rapid manner. Pay them bonuses when they do an above-average job of quickly converting customers with unique solutions that they design for your specific situation.

And Attention All Vendors:  The first eight weeks following a first purchase are the most critical eight weeks in the customer life cycle. Period. You have a HUGE OPPORTUNITY to make your clients happy while padding your bottom line by modifying your products to capitalize on this critical customer window. Be creative. Be innovative! Help people, ok?!!

Scott Galloway / Code Commerce Presentation

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