Saturday, August 1, 2009

High ROI Customer Marketing Tactics!

Go beyond using simple customer demographics to start looking at past customer behavior, the most reliable source of data for predicting the potential value of a customer and their likelihood to remain a customer.  When you nail down these behavioral metrics and start measuring their trends, you will be able to:

* Identify customer segments with the highest future potential
* Focus on growing the profitability of middle potential customers
* Stop wasting resources acquiring and marketing to low potential
 customers

Once you identify these groups, you can manage their value by:

* Emphasizing the ads, media, and products creating long term high potential value customers and downplaying ones that don't

* Creating High ROI marketing programs that maximize customer value by increasing sales while lowering expenses

* Predicting when best customers are about to leave you and reacting with customer retention and save-a-customer programs

* Quantifying the profitability of marketing and operational initiatives by linking them to potential customer value