What is a Customer Data Platform?
Customer Data Platform (CDP): The Marketer’s Guide If you’ve heard the term “CDP” but don’t know just what it is – you are not alone. The term “CDP” has generated considerable coverage in modern marketing over the past couple of years, but it has gained further prominence in 2018 and 2019. Essentially, a Customer Data […]
A/B Testing – How Do You Declare a Winner?
How Do You Declare the Winner of Your A/B Test? When declaring a winner it has to be statistically valid. In other words, there has to be a significant enough difference, that you really set a new course in whatever you do.To understand the statistical significance of your A/B test you have to remember 3 […]
Solving The Top 3 Problems Retailers Face
THE TOP 3 PROBLEMS RETAILERS FACE 2022 Edition The first problem is that you start the wrong way by looking at the wrong set of data. Opens and clicks are not customers. You’ve got to find the most valuable customers and the keyword here is not valuable, but the customers, you have to define the customer […]
How to: Create The (Right) Customer Profile
Creating The Perfect Customer Profile Just because you have access to real-time data on things like clicks and opens that does not mean that you can neglect your customer profile. To create a customer profile you need 3 different dimensions of customer data Behavioral, Demographic, and Attitudinal. Customer profiles will change over time, this change […]
2019 Marketing Trends: Will AI Replace Marketers?
Will AI Replace Marketer’s? With rapid advances in AI and machine learning technology, many people are concerned about what this technology will mean for future employment. Will machines replace humans in the workplace? Will AI replace the need for human intellect and decision making? This episode discusses the difference between AI and machine learning, and […]
A Database Marketing Veteran’s Guide to Managing SKUs
The Guide to Managing SKUs Do NOT delete your historical SKUs Don’t replace or rewrite a SKU because it’s basically the same thing as deleting it If you do happen to delete your SKUs write down every category and then see if those words are found in the description of your products. Maintaining your SKUs […]
Customer-Centric Marketing: a 360 Degree View of Your Customer
Obtaining a True 360° Customer View A true 360° view of your customer must include every interaction they have with your brand not just clicks on your website or things they have bought. The number of customers in your database is not the same thing as the number of transactions that you have. Knowing your true […]
Attrition vs. Retention: What’s The Difference?
Defining Attrition and Retention When we ask Retailers what their biggest focus is one of the most common responses is “We want to reduce attrition and increase retention.” Most people think they are inverses but that is not the case. Below is a lightly edited transcript of Episode 25 of the Inevitable Success Podcast. (Listen Here) […]
Building a (Profitable) Target Through Modeling
Building a Profitable Target There is no average customer. The average of your biggest spenders and your most frequent spenders does not exist. They are called your phantom targets. If you just go after the average based on those descriptors you’ll never hit anything. When targeting your highest-value customers don’t just guess what the cut-off […]
How Marketers Use Purchase History to Their Advantage
Does Your Purchase History Tell Companies All They Need to Know About You? I’m going to give you superpowers so that you become rich by predicting what people are going to do next. I’ll give you two choices and you can only pick one First choice: I’m going to give you the superpower that whatever […]