Aiming for a Higher Client Lifetime Value? The Answer is Data Driven Marketing
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Posted On :
Oct-19-2011
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Article Word Count :
693
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For many companies the race to a higher client lifetime value is just as heated as the gold rush, and just as elusive. In many cases, marketing departments bet on a uniform client behavior
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For many companies the race to a higher client lifetime value is just as heated as the gold rush, and just as elusive. In many cases, marketing departments bet on a uniform client behavior, or an unrealistic client life cycle. The main issue is that clients remain a big unknown, even in the digital age when client data are centralized directly into your computers. However, if no one analyzes them, applying the correct marketing principles, your company will nowhere close to know its clients and their expectations
Data driven marketing is the most efficient marketing system ever developed by along the way. It allows you to discover who your clients really are – how loyal they are to you, how long they have been clients and if they are likely to remain your clients. More importantly, data driven marketing shows you when, how much and for which clients your company should be making marketing efforts. This is, in fact, the biggest mistake your marketing department has been making along the way: spending the same amount for each client. Without a clear view of how much each client is worth in terms of acquisition costs vs. realized sales, your company will end up paying your clients to enter your stores or visit your website.
You will get unparalleled insight regarding your clients. For the first time ever, you will find out who exactly your clients are, how frequently they buy from you and what their favorite products are. This translates into targeted marketing – the only type of marketing that sends the right message to the right person, at the right moment. Instead of spreading out tens of thousands of meaningless messages to indifferent clients, who will not respond to them, wouldn’t you prefer to send out just a few thousand messages to clients who will most likely respond?
Of course, data driven marketing involves some efforts from your marketing department. Your entire client data needs to be analyzed carefully and your clients must be separated according to precise metrics that show if they are new clients, loyal clients, or defecting clients. In this way you will know where you need to devote special attention in order to increase client retention, by bringing back the clients who show a tendency to defection. As you probably know, it is far more expensive to bring in a new client than to keep an existing client.
These calculations take a lot of time and need maximum precision and accuracy. It takes a lot of man hours from your marketing department to compile the huge amount of data that you have in your computers. Or you could use the most accurate, fast and user friendly data driven marketing service provided by Phoenix DataLabs. Our proprietary software has the ability to process huge amounts of data within minutes and presents you with a clear outlook on the weekly or monthly evolution of client groups, with a special section of alerts showing you the exact clients who need special attention in order to prevent their defection.
Phoenix DataLabs has put together the most complex and feature laden automated marketing service, available to you from the comfort of your office at any moment. There is no hassle for you and you don’t need to keep any of your employees busy with the task of sifting through endless client data. Our experts have turned this entire step of the process into a computerized calculation, completely error free and designed to provide you with ease of use and clear, easy to read reports.
In the turbulent business world we are all operating in, clients change their preferences, their lifestyles and their purchase power from one day to another. Without a clear, updated view on your clients’ activity, you won’t know for sure who is and who is not your client anymore. And you will keep spending uselessly on marketing campaigns that will not bring any significant incomes to your company. With Phoenix DataLabs and data driven marketing, your company will be able to bring clarity to its marketing activities and make them truly profitable.
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Article Source :
http://www.articleseen.com/Article_Aiming for a Higher Client Lifetime Value? The Answer is Data Driven Marketing_94183.aspx
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Author Resource :
Customer Retention Strategy || Increase Customer Value
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Keywords :
client retention, customer retention, customer retention strategy, retention plan, improve customer service, customer care st,
Category :
Business
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Business
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