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Customer Lifecycle Metrics: Nurture, Score, Repeat

Nicely written, Lisa Canon captures many of the reasons why marketing automation platforms are so popular. However, please recognize as you read through this, the metrics and reasons expressed can apply anywhere in the customer lifecycle. Remember, the customer lifecycle is all about the customer and metrics like those identified here, can apply to any stage of the customer's life experience with your company. Thy can occur as a Prospect, during Acquisition, Conversation, Penetration, Retention and ReAcquisition.


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Householding - is it a thing of the past?

Twenty-plus years ago when I started in direct marketing "householding" was a condition that every marketer with a database of any size had to deal with. For those that are too young to know what this is, let me explain:

Let's say you work for Sony and you want to market to Johnny Smith who lives at 123 Main Street, Toledo, Ohio. Johnny comes to a landing page, enters his name, address and email address into your nifty form and submits. He tells you he wants to receive email promotions and a catalog. Seems simple enough to interact with Johnny based on the information he provided.


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58 Emails and Counting...

A little more than 60 days ago I started tracking a $100M retailer to see how they manage their customer interactions. So far I have been disappointed. Especially since they are using the Eloqua platform and I have some familiarity with what it can do.

To make the point, here are a few actions I've taken and capabilities I have failed to experience:


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There are no secrets on the web...and everything is on the web.

Wouldn't it be wonderful to have an app that let's everyone in the family know where everyone is, at all times and in all places. Parents would love it. Kids would hate it - especially the teenagers. And some spouses would never stand for it. This little marvel of an app could not only identify location but send timely and relevant messages to members of the family using location based data. Example, Joe stops at the gas station to fill up his car on the way home from work and instantly he gets a text message from his wife asking him to pick up a gallon of milk and bring it home.


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Traditional campaign marketers fail when it comes to lifecycle marketing...

Unless they change their thinking and their behaviors.

Take a look at the ugly / simple chart above. Notice that a 5 day gap exists between each email in the campaign. Now consider that this drip campaign has 8 steps in the series. Simple math tells us that 40 days will pass before the prospect or customer passes through the entire series...

Years ago when I first started in direct marketing, one of the companies I studied was Reader's Digest. As I recall they used a 37 step renewal series. That's right, 37 steps! And they weren't mailing every 5 days. It took years to complete the series.

Why did they do this? Simple. They knew that it cost less to obtain an order by mailing their house file 37 times than it did to find a new customer that would buy that first time...

Sometimes marketers act as if the only answer they know is "more is better" and "faster" must be best of all.

This is foolishness...


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Data-driven marketers are computer scientists? Or riverboat gamblers?

Way back when, in the early stages of my career I was told that my job was to be half computer scientist and half riverboat gambler. The trick was to figure which half, at what point in time and in what situation.

Teradata recently ran an ad in Forbes magazine with the headline, "Data-driven businesses outperform" and the sub-head of, "Becoming a data-driven organization is now a matter of survival in the market, because such organizations tend to outperform."

Oh really?


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London School of Marketing discusses the importance of conducting email marketing throughout the consumer lifecycle

It's refreshing to see the university crowd getting on-board with the idea of customer lifecycle marketing. Not that schools haven't previously been on-board, but the industry can use more marketing students coming out of school that have some concept of lifecycle marketing.

This is the 2nd article I have seen in recent weeks highlighting the usefulness of email marketing when applied to a defined customer lifecycle. Clearly this is not new to the marketing technology industry, but whenever 3rd party sources make the observation and emphasize the value of this typie of marketing, it is satisfying to those of us that have been practicing it for decades.


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Brands Set Rules to Manage Email Frequency

In the old days of direct marketing we called this recency, frequency and monetary value (RFM).  It is a highly useful technique and it's great that cars.com and others are applying it to frequency of email touch.  

The other method that is referenced we called, frequency momentum and again this is a highly useful technique but one that is rarely used.  It's too bad, because when frequency momentum is applied to "big data" it is exceptionally powerful.  Consider that mass x velocity = momentum and you begin to get the picture on what this one metric call tell us when dealing with "big data" customer files, transactional files, site traffic, etc.

How Bank of Montreal has achieved one-to-one customer engagement - CMO Australia

Excellent view on transitioning an organization to become focused on the customer.  If you get only one thing - get this point:  The customer-centric approach also triggered a reorganisation of marketing in the last six months from a focus on product, to customer acquisition and lifecycle management.  Great products are wonderful, but they needed to be delivered to serve the needs of customers.  Focusing on the customer is the answer.

Publishers' Top Email Marketing Pain Points |MarketingProfs Article

This shouldn't be much of a surprise.  Magazine publishers have deep circulation expertise, which is a great direct marketing skill to have; but it does not translate directly into marketing automation, email marketing and dynamic content.  For this you really need to add to a deep technology skill set and strong process design capabilities.

How do I know?  I was Circulation Director for a BPA qualified magazine with over 200,000 paid subscribers, including newsstand distribution.

Publishers are in a great position to leverage the latest messaging platforms, but they will have to beef up on the technology skill sets withing their circulation departments.  And they will have to combine editorial direction with circulation skills in order to deliver relevant dynamic content to their readers.

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