Your customers are your greatest asset. Bigger than your brand or even your associates. Knowing how your marketing investments affect customer value is more than just a good idea, it’s a competitive advantage.
January 19, 2010
June 30, 2009
I recently saw a terrific presentation from Enterprise Car Rental where they outlined a fairly comprehensive approach to measuring the payback on their marketing investments"...
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January 17, 2009
It strikes me that the spirit of "Yes We Can" is very applicable to marketing at this particular point in time when many have recently suffered significant cuts in marketing budgets owing to their lack of ability to demonstrate the financial value derived from those investments.
Yes We Can apply more discipline to how we measure the payback on marketing investments without increasing the workload proportionately.
Yes We Can embrace this discipline without harming the creative energy so critical to marketing success.
March 29, 2007
It can often be difficult — sometimes down right impossible — for marketing and finance to coexist when finance needs short-term results to satisfy their generally accepted accounting principles (GAAP) and marketing is trying to build overall brand equity, which leads to long-term customer relationship value.
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January 16, 2007
As one of the newest media (and one that is still very much evolving), there’s quite a bit of measurement snake-oil surrounding the links between word-of-mouth marketing and financial value creation.
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July 31, 2006
After much buzz, the Advertising Research Foundation (ARF) came forth at their annual conference recently with a proclamation about the new way to measure advertising effectiveness. They called it "engagement."
When I think of customer "engagement," I tend to think in terms like repeat purchasing, loyalty, customer referrals, or perhaps even just an inquiry. As you can probably tell, I’m hung up on the idea of actually making profits from mutually beneficial customer interactions.
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June 12, 2006
Over the years, most companies have acknowledged that happy customers are more likely to be repeat customers than unhappy ones. Owing to the difficulty of defining “happy,” loyalty indicators predominantly have been linked to satisfaction measurement. Some have even gone further, setting their sights on nothing less than “delighting” customers or eliciting the rare reaction of “wow.”
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May 9, 2006
The key to loyalty measurement is having a very clear picture of the economic value you are trying to create. If there is no expectation of superior economic value in either the short or long term, then initiatives intended to inspire customer loyalty can't possibly pass the basic business-case test that returns must exceed investment.
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