Interesting commentary - but short-sighted in saying there is an easy fix... :) now before any of you take exception to my comment, I'll post a full explanation later in my blog as to why. Having said that, here is the short answer: there are no secrets on the web...and everything is on the web. More to come later.
Great summary - one note to his comments. In the old worlds of publishing and direct mail one of the "rules of thumb" in running these types of business: "you lose money on the first order (acquisition) - break even on the second order (conversion as in customer conversion NOT lead conversion) - and make money on the "3rd order" or in publishing or subscription model the "3rd term". This is clearly what HubSpot is experiencing. They lose money on acquisition, break-even on conversion (I'm being generous here since they have piled up a large stack of losses and they are clearly using an "unloaded" cost analysis on their acquisition/conversation metrics); and finally make money on the 3rd term.
Serious? Didn't see that one coming... lol
Which term do you prefer? Customer life cycle? Or customer journey?
Noteworthy announcements? Steps in the right direction. Yes, but if you're a B2B marketer don't get your hopes up yet about the hype surrounding the "customer journey."
Nice opinion piece on the future of marketing and how some of it has been built on the past of email marketing. It's the personalization of the marketing experience that absolutely correct - and of course that IBM has been chasing this vision for quite some time.
IBM was a large client of a company I worked for several years back and I had opportuntiy to engage deeply with leader across several divisions. The two that stuck out most were Global Services and Software. Both IGS (IBM Global Services) saw the marketing zone first, followed by the software division. Now that both are "in the zone" and it's being led by Ginny at the top and the excitement around Watson, and cognitive computing, we are clearly in the early stages of what marketing, or 1 to 1 relationships will become - all through the advancements in technology.
It's always worth reading what Shar has to say about the email marketing space.
Private equity loves the technologies in life cycle marketing... via @irgilyeat rbl.ms/1nUaldw
A foundation of trust makes this possible. If the hotel guests don't trust the Marriott brand, they certainly don't want to be tracked and sent offers inside the hotel.
The Ultimate SaaS Metric: The Customer Lifetime Value to Customer Acquisition Cost Ratio (LTV/CAC) wp.me/pKs17-2nW
This is a cute analogy but I think it misses the monumental impact of how the "butterfly effect" bridges into a defined customer lifecycle. Let me illustrate:
Years ago, I worked for a company where 90% of first time buyers were "satisfied." Sadly, only 10% of those same satisfied customers came back and made a 2nd purchase. From a profitability perspective this was devastating on the over-all financial health of the company.
In another business in which I worked, in the international payments industry, it took 7 payments for a customers to become "converted." Meaning, a new customer acquisition didn't actually happen until 7 transactions had occurred. Once that 7th trade occurred, renewal / retention rates soared to greater than 90%.
In both of these example, the "butterfly effect" literally was a small thing, early in the customer lifecycle, but with monumental financial impacts down the road. Without observing and knowing these key leverage points, the companies continued to pour big dollars into acquisition efforts within little profitable return on the investment.
The "butterfly effect" is a cute idea and I appreciate the authors clever way of bringing it to the forefront, but my advance is to translate it into hard tracking metrics in your own defined customer lifecycle.
I really like the idea that Subscribers Rule! You know, that feel good strategy of "opt-in" only email, "double opt-in" and the like.
It's amazing how many different answers you get when searching for "content." One might be looking for variable content solutions within t…
Top of the funnel, middle of the funnel, bottom of the funnel...is this really how trusted relationships are developed?
I'm not buying it. There are no secrets on the web... and everything is on the web. Like all software development, once it is invented, the next team or group of individuals will figure out a way to overcome the barriers it creates. This is the natural march of progress.
However, I do like the idea that control of access is held by the individual instead of by the publisher or creator of the software. This is fundamentally correct and places responsibility and accountability on the sender or recipient of the message.