Disqus - Latest Comments for mdgberg

Re: To Avoid the Customer Recency Trap, Listen to the Data

Michael Greenberg — Thu, 21 Nov 2013 13:50:15 -0000

As someone who has analyzed behavior for dozens of retailers (and used to be a marketing VP for one) this is absolutely correct. Recency is an extremely strong predictor of response (which is why its the primary element of the old RFM approach). Successful retailers look beyond recency and look for ways to reactivate high potential customers…what they figure out is how they create competitive advantage.

Re: Calculating Accurate ROI for Marketing Success

Michael Greenberg — Wed, 16 Nov 2011 12:49:54 -0000

Tim,
Wouldn't you subtract out the fully loaded campaign costs from the numerator? If I spend $100K to generate $100K in incremental margin, my ROI should be 0%, not 100%.
Otherwise spot on.
Michael

Re: Loyalty Program Fund Rates – Further Thoughts

Michael Greenberg — Thu, 13 Oct 2011 02:09:45 -0000

I'm pretty sure the models around customer value will be good enough for companies like Hyatt to convert your hoarded miles into a unique offer just for you that accomplishes the same thing, without using currency. Watch for it.

Re: Why You Should Question Your Culture

Michael Greenberg — Thu, 13 Oct 2011 01:26:42 -0000

Ron, I'm guessing you've delved into this more deeply in your books. Which would you suggest on this topic?

Having worked in everything from startup cultures to Fortune 50, I've always struggled with a framework for understanding culture. Your questions hint at a more structured approach, so additional thoughts there would be appreciated.

Re: [Sponsor] One Life, One Stacked Area Chart

Michael Greenberg — Thu, 15 Oct 2009 11:52:07 -0000

Great visual. Now I just need to build about 10 million of these for our customers and see what the rollup looks like. Bet there's a bit more TV in the mainstream.

Re: 10 ways to get the second transaction

Michael Greenberg — Tue, 15 Sep 2009 17:32:53 -0000

PowerReviews is a great option for engaging during the first sale. Our data shows customers who interact in a non-transactional manner (such as contributing a review) are vastly more likely to be repeat purchasers.

Re: 10 ways to get the second transaction

Michael Greenberg — Tue, 15 Sep 2009 17:30:18 -0000

I completely agree with great product and great service being the first priority for any company. But our data on tens of millions of customers shows that there is a significant portion that responds to classic marketing tactics. If they didn't work I wouldn't suggest them, but the data says they do. So for many companies, they deserve a role.

This is a point I've made elsewhere - there's a customer segment that will respond to just about every strategy you can think of. Sometimes a single strategy makes sense, but more often companies must combine multiple strategies (or tactics) aimed at different customer segments.

Re: How Customer Loyalty Differs Online

Michael Greenberg — Tue, 01 Sep 2009 16:25:31 -0000

I guess I already think of social media/social CRM as part of mainstream online marketing. When I reference "listen and respond", "enable community", and "communicate relevantly", I'm speaking directly to social CRM. While each was relevant in a pre-social world, they are even more relevant now. Companies don't have to be perfect tomorrow, but they need to start up the learning curve to understand the role different social technologies have in developing customer loyalty.

Re: How Customer Loyalty Differs Online

Michael Greenberg — Wed, 26 Aug 2009 21:42:02 -0000

Patrick,
Hope is not a very viable strategy, I agree. Part of what I'm suggesting is using a rational motivator such as a loyalty program to drive usage and interaction with the elements that normally lead to better emotional attachment - reviews and feedback, forums, deeper corners of the site, and updated preference and attribute data that results in more relevant messaging. I'm not saying its easy, but this is one way to tie all of these ideas together into something customers can identify and understand.
Michael

Re: How Customer Loyalty Differs Online

Michael Greenberg — Wed, 26 Aug 2009 11:02:09 -0000

Thanks Elizabeth. I've always tried to get Operations involved in customer loyalty initiatives, with mixed success. The customer experience is one of the main drivers of emotional loyalty and hopefully more marketers will help to improve their company from the inside.

Re: Twitter Better for Nonsense than Business Sense

Michael Greenberg — Tue, 25 Aug 2009 15:18:53 -0000

Tim,
Big difference between a random sample of tweets and following a topic. Look at any legitimate hashtag such as #scrm and you'll see a lot of quality content and conversations.

Or, think about what you'd get if you sampled every web page in the world...how much noise would you get?

Re: Twitter Better for Nonsense than Business Sense

Michael Greenberg — Tue, 25 Aug 2009 15:08:25 -0000

Big difference when you randomly sample Twitter vs. focus on a topic. Follow #scrm or something equally legitimate and you'll see a very small percentage of noise and a ton of useful conversation.

Re: Trust Agents on a Plane

Michael Greenberg — Mon, 24 Aug 2009 17:50:57 -0000

Chris,
SF would be a slam dunk. Plus hotel rates are down in the $130/night range. I could probably hook you up at the W.
Michael G.

Re: Key steps for developing customer loyalty

Michael Greenberg — Fri, 19 Jun 2009 14:19:49 -0000

Chris, I agree with your point wholeheartedly. If you are in a position to exceed expectations, by all means do so - it can alleviate a lot of the difficult decisions once demand outstrips resources.