Thought Leadership Hub2019-02-05T23:13:51+00:00

“INEVITABLE SUCCESS”: THE THOUGHT LEADERSHIP HUB

1902, 2019

7 Steps to Marketing Nirvana – The Ultimate How-To Guide [Step 2]

 7 Steps to Marketing Nirvana - The Ultimate How-To Guide [Step 2] Transforming Your Data into a Marketing Plan At this stage along the path to Marketing Nirvana, all of your POS and transactional data have been consolidated and filtered through PMA software. This means that all of your retail information has been stitched together across all a [...]

1202, 2019

How Marketer’s Choose What To Automate

 A MARKETER'S DILEMMA: HOW DO YOU CHOOSE WHAT TO AUTOMATE?  Summary: This is our last episode of 2018, and we’re thinking ahead to next year. One of the big questions is what are we going to automate in 2019? Stephen Yu, Chief Product Officer at Buyer Genomics, joins us again to discuss the importance of planning and setting specific goals wh [...]

602, 2019

The 7 Steps to Marketing Nirvana Part 1: Build Your Customer Database

7 Steps To Marketing Nirvana - The Ultimate How-To Guide Step 1: Build Your Customer Database In this age of big data, data shortage is not a problem. In actuality, the opposite is the case. Retailers are frequently drowning in their own data, triggering an overwhelming sense of anxiety and disquietude. Not only that, these companies typically [...]

2301, 2019

Earning the Second Purchase

 INCREASING LIFETIME VALUE: EARN THE SECOND PURCHASE  Summary: With all the data coming in from both online and offline purchases, most retailers have a hard time sifting through the noise and identifying what it takes to convert one-time purchasers to multichannel buyers and repeat customers. Stephen Yu, Chief Product Officer at BuyerGenomic [...]

801, 2019

The Power of Predictive Marketing Automation (PMA)

THE POWER OF PREDICTIVE MARKETING AUTOMATION [PMA] What is Predictive Marketing Automation? Predictive Marketing Automation (PMA) is state of the art machine intelligence applied to solving marketing problems. PMA begins with an intelligently designed database to identify key changes in the customer behavior and potential value of an individu [...]

1912, 2018

Trusting Your Marketing Results: Causation & Correlation

TRUSTING YOUR MARKETING RESULTS: CAUSATION VS CORRELATION Summary: Correlation can be an amazing tool to discover causation, but sometimes it’s just too expensive or not worthwhile to even go that far. If the correlation works and you test into it, that doesn’t mean you break out an extra million bucks. You test into it and if it holds up and [...]

1312, 2018

Using Predictive Analytics for Marketing [The Future of Marketing Automation]

USING PREDICTIVE ANALYTICS FOR MARKETING THE FUTURE OF MARKETING AUTOMATION What is Predictive Analytics? Predictive analytics is the utilization of data, statistical models and machine learning capabilities in order to pinpoint the probability of future results based on historical, demographic, and other behavioral data. Through careful examin [...]

2911, 2018

What is a Customer Data Platform?

CUSTOMER DATA PLATFORM: [THE MARKETER’S GUIDE] What is a Customer Data Platform (CDP)? 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 never been more relevant than right now. Essentially, a Custome [...]

1311, 2018

A/B Testing – How do you declare a winner?

A/B TESTING - HOW DO YOU DECLARE A WINNER? Key Takeaways: 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 specific parameters: Sample S [...]

2610, 2018

Solving the Top 3 Problems Retailers Face

SOLVING THE TOP 3 PROBLEMS RETAILERS FACE IN 2018 Key Takeaways: 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 first. If you treat ev [...]

1910, 2018

How To: Create the (Right) Customer Profile

CREATING THE PERFECT CUSTOMER PROFILE Key Takeaways: 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 o [...]

1210, 2018

Will AI Replace Marketers?

WILL AI REPLACE MARKETERS? Summary: 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? Stephen Yu, Chief Product Officer at BuyerGenomics, [...]

510, 2018

The Guide to Managing SKUs

A DATABASE MARKETING VETERAN'S GUIDE TO MANAGING SKUs Key Takeaways: 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 SKU [...]

210, 2018

Customer-Centric Marketing: a 360 Degree View of Your Customer

CUSTOMER-CENTRIC MARKETING: OBTAINING A TRUE 360° CUSTOMER VIEW Key Takeaways: 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 [...]

2609, 2018

Defining Attrition and Retention

ANSWERING THE QUESTION: WHAT IS THE DIFFERENCE BETWEEN ATTRITION AND RETENTION? Below is a lightly edited transcript of Episode 25 of the Inevitable Success Podcast with Damian and special guest Stephen Yu. (Listen Here) Transcript: Damian: I'm back here in the studio with Stephen Yu. Stephen: Hello. Good afternoon. Damian: Happy Friday. Hope ev [...]

2109, 2018

Building a Profitable Target

BUILDING A (PROFITABLE) TARGET THROUGH MODELING Key Takeaways:  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 customer [...]

1909, 2018

How Marketers Use Purchase History to Their Advantage

DOES WHAT YOU BUY TELL COMPANIES ALL THEY NEED TO KNOW ABOUT YOU? Summary: 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 the person sees on the website or store you can [...]

1209, 2018

What Customer Data Type Should You Use?

WHAT IS THE BEST TYPE OF CUSTOMER DATA? Key Takeaways: Purchase behavior is king. It is the simplest form of behavior but it is the most powerful i.e: What they bought. How much they paid for it? When did it happen? Through what channel? Was it in store or online? The best kind of data all depends on what you are trying to predict. But in gener [...]

409, 2018

Implementing Personalization

HOW DO YOU IMPLEMENT PERSONALIZATION AND WHAT ARE THE LIMITS? Key Takeaways:  Everybody likes to feel special and if you feel special, if you think that a message is carved out for you, without even knowing it, you’ll have more of a chance for that recipient to open an email and look at it because they think, “Hmm this is interesting. It’s real [...]

2808, 2018

How to Identify a Data Poser

THE DIFFERENCE BETWEEN DATA POSERS AND (REAL) DATA PLAYERS Key Takeaways: Be on the look out for people who over-use Buzzwords. They use them because they are an inch deep and are flashy. Always ask those people to prove the value of those buzzwords. A specific buzzword, especially today, is A.I. (Artificial Intelligence). Posers love to throw [...]

1408, 2018

4 Pillars of Marketing Analytics

4 PILLARS OF MARKETING ANALYTICS We are undoubtedly living in the age of abundant and ubiquitous data. Humans have been saying that “knowledge is power” for ages, but the statement is ever more relevant now. Simply, companies and people who can wield data more effectively will win out. Others—businesses that simply open stores and wait for cus [...]

308, 2018

Identifying Customer Gender | Database Marketing

DETERMINING GENDER: A DATABASE MARKETING IMPERATIVE “Men Are From Mars, Women are From Venus” by John Gray is the classic guide to understanding the opposite sex.  This landmark book, first published in 1992, suggests that by learning how genders differ, men and women will be better able to communicate with and understand the opposite sex. Ove [...]

3107, 2018

4 Types of Data Analytics to Improve Your Business

4 DIFFERENT TYPES OF DATA ANALYTICS TO IMPROVE YOUR BUSINESS (WITH EXAMPLES) The 4 Types of Data Analytics: Business Intelligence Reporting (B.I) - The most common type of analytics, also known as data mining, and it is really all about understanding your environment. A few examples are: "I blasted this e-mail and this campaign is going well." [...]

1307, 2018

Marketing Analytics Problems (Solved)

WHY DO BUSINESSES STRUGGLE TO COMMIT TO ANALYTICS? Key Takeaways: The main reason companies give up on analytics is because they do not ge the proper results out of all their hard work Sometimes analytics initiatives fail because they are defined wrong, because you didn't ask the right business questions first. Asking the right questions also h [...]

2806, 2018

One Time Buyer Problem

SOLVING YOUR ONE TIME BUYER PROBLEM Key Takeaways: The first step in new customer acquisition is to learn. It is not enough to just have a database. You need to really dig deep and learn about your customer base. The second step is targeting. You need to decide the who, what, and how you are are going to target. When it comes to retention the f [...]

3005, 2018

Direct Mail and Marketing Automation

THE ROLE OF DIRECT MAIL IN 2018: USING THE BUYER LIFECYCLE AND MARKETING AUTOMATION (PART 2) Key Takeaways: Marketing automation is vital today to help retailers and marketers respond to market changes and customer changes. Customer databases are predominately one-time buyers The benefits of direct mail are clear: much less clutter than the ave [...]

1605, 2018

Ditching Rule Based Segmentation

DITCH RULE-BASED SEGMENTATION Featuring Stephen H. Yu Principal & Chief Product Officer at BuyerGenomics Even with great advancements in technology for data management, analytics, and campaign tools, holistic personalization is not achieved in everyday marketing campaigns. Rudimentary segmentation techniques are widely used in marketing, [...]

2704, 2018

The Role of Direct Mail in 2018

  THE ROLE OF DIRECT MAIL IN 2018: PART 1  Key Takeaways: Household response rates to direct mail are at 5.1% the highest number seen since 2003. These numbers can be attributed to the ability of marketers to Target very specific groups as well as customers just receiving less direct mail overall. The cost of data and data storage are lower tha [...]

1603, 2018

Using Paid Search in an Omni Channel Marketing Strategy

USING PAID SEARCH IN AN OMNI CHANNEL MARKETING STRATEGY Key Takeaways: Don't look at the aggregate CPA. It is not reality. Look at your search term data to create a search acquisition matrix to better understand how your metrics really look between brand and non-brand and net new acquisition and existing customers- the mix of those four items. [...]

903, 2018

New Customer Acquisition: Marketing Cost vs. Business Investment [Part 5]

NEW CUSTOMER ACQUISITION: MARKETING COST VS. BUSINESS INVESTMENT [PART 5] Key Takeaways The effectiveness of all marketer’s performance is tied to the rate of return they generate on the marketing budget over a defined period of time. If you aren’t measuring the revenue tied to your marketing budget, you are very likely “spending on” customer a [...]

2202, 2018

New Customer Acquisition: Acquiring your Most Valuable Buyers (MVBs) [Part 4]

NEW CUSTOMER ACQUISITION: ACQUIRING YOUR MOST VALUABLE BUYERS (MVBs) [PART 4]  Summary On today's episode, we have Mike Ferranti Founder and CEO of Endai. In this episode, Damian and Mike detail how to transform your business by acquiring not just any customer but customers that buy like your very best customers do today. Damian kicks the epis [...]

2002, 2018

Grow Share of Wallet: Capture 100% of a Buyer’s Potential Value (New Ideas)

GROW SHARE OF WALLET: CAPTURE 100% OF A BUYER'S POTENTIAL VALUE (NEW IDEAS) Summary On today's episode, we have we have recurring guest Gary Beck 30 year marketing veteran. Damian and Gary cover Share of Wallet. For those who do not know what share of wallet is well it is simply calculated as the amount of money spent on your products versus th [...]

1402, 2018

New Customer Acquisition: Marketing Strategies to Scale up your Acquisition [Part 3]

NEW CUSTOMER ACQUISITION: MARKETING STRATEGIES TO SCALE UP YOUR ACQUISITION  Summary On today's episode, we have recurring guest Mike Ferranti Founder and CEO of Endai. Damian and Mike continue their talk on New Customer Acquisition. Part 3 is all about how a company can scale net new customer acquisition. Mike, first,  gives his impressions on [...]

802, 2018

New Customer Acquisition: the (Real) Cost of Customer Acquisition [Part 2]

NEW CUSTOMER ACQUISITION: THE (REAL) COST OF NEW CUSTOMER ACQUISTION Summary On today's episode, we have recurring guest Mike Ferranti Founder and CEO of Endai. Damian and Mike pick up their conversation about new customer acquisition. This episode focuses on the (Real) cost of customer acquisition. Some companies try to disguise the cost but i [...]

602, 2018

The 4 P’s of Marketing and Nailing the Right Marketing Mix in 2018

THE 4 P’s OF MARKETING AND NAILING THE RIGHT MARKETING MIX IN 2018  Summary: On today's episode, we have recurring guest Gary Beck 30 year marketing veteran. Damian and Gary go back to school and review the 4 P's of Marketing and the Marketing Mix. More than just telling us what those terms mean they apply it to the current marketing landscape. [...]

202, 2018

New Customer Acquisition: Prime your Business for New Customer Growth [Part 1]

NEW CUSTOMER ACQUISITION: PRIME YOUR BUSINESS FOR NEW CUSTOMER GROWTH [PART 1] Summary On today’s episode, we have Mike Ferranti, Founder and CEO of Endai. This episode is the first part of our six-part series on The (Real) Cost of Customer Acquisition and How to Do it Right. In part 1, Damian and Mike give a high-level overview of customer acq [...]

2301, 2018

Marketing Automation: Debunking the 6 Most Common Myths (2018)

OMNI CHANNEL MARKETING AUTOMATION CONSIDERATIONS FOR ANY BUSINESS Summary On today’s episode, we have Mike Ferranti, Founder and CEO of Endai. Damian and Mike cover omni channel marketing automation and automation considerations along the entire customer journey. Damian also asks Mike to debunk the most common marketing automation myths. To wra [...]

1601, 2018

Customer Acquisition Strategies

BROADCASTING VS NARROWCASTING: STRATEGIC APPROACHES TO CUSTOMER ACQUISITION Summary Customer acquisition costs continue to rise aggressively, and that trend shows no signs of stopping. Today we discuss broadcasting versus narrowcasting to explore alternate strategic approaches that get more with less. Moreover, Mike Ferranti will cover five ste [...]

1101, 2018

Understanding Your Customer Base: Full Price vs Discount Buyers

UNDERSTANDING YOUR CUSTOMER BASE: FULL PRICE VS DISCOUNT BUYERS What follows is a lightly edited transcript of Episode 4 of the Inevitable Success Podcast with Damian Bergamaschi and special guest Mike Ferranti. (Listen Here) How could you use purchase history to better understand your customer base? Today Mike Ferranti walks us through just th [...]

801, 2018

Data Governance

WHAT IS DATA GOVERNANCE? Summary Data Governance may be defined as the overall process used to manage data in an organization. Management activities include acquiring and organizing data, data cleansing and integrity, database management, data security and communications within an organization regarding these functions. What follows is a lightl [...]

2912, 2017

Maximize Customer Value through Segmentation

HOW DO YOU MAXIMIZE CUSTOMER VALUE THROUGH SEGMENTATION? Summary Customer segmentation allows us to create groups of customers that behave similarly in response to marketing treatments. By marketing to homogeneous segments, we can customize the persuasion process and maximize the lifetime value of customers. This is segment two of our talk abou [...]

2811, 2017

What is CRM (Customer Relationship Management)?

DEFINING A CRM STRATEGY Summary Customer Relationship Management (CRM) is a term that refers to the practices, technology, systems, and strategies associated with managing your customer through the customer lifecycle. The goal of CRM is to maximize customer lifetime value and relationships over time. CRM is perhaps, in my mind, one of the most [...]

1809, 2017

BuyerGenomics at directXchage by NEMOA

BUYERGENOMICS AT DIRECTXCHANGE BY NEMOA This September, our Founder, Mike Ferranti, and Dylan’s Candy Bar’s Kevin Cohen presented at the National Etailing and Mailing Organization’s directXchange Fall Conference in Chicago. Mike and Kevin shared a case study, entitled "Profitable High-Value Customer Acquisition at Dylan's Candy Bar." With retai [...]

2606, 2017

BuyerGenomics Presenting at Google NYC (Case Study)

BUYERGENOMICS PRESENTING AT THE ELITE SEM SUMMIT This June, BuyerGenomics was invited to speak at the Elite SEM Summit held at Google's New York City headquarters. We were accompanied by one of our clients Dylan's Candy Bar to present their current campaign to acquire new better customers. SEM Presentor: [00:00:00] We're going to keep on movin [...]

1004, 2017

BuyerGenomics at the SFA Business Summit

BUYERGENOMICS AT THE SFA BUSINESS SUMMIT This April, our Founder, Mike Ferranti, presented at The Specialty Food Business Summit, taking place in Chicago, IL. Below is an excerpt from his featured presentation about Email Marketing and implementing our MVB Model. You can find a transcription of the video below as well as a few images. [00:00:0 [...]

2702, 2017

Great Business are Built on Great Customers

Published by:  GREAT BUSINESSES ARE BUILT ON GREAT CUSTOMERS Most business leaders want to run an enterprise that is truly “great.” Some are satisfied with running a “good” business, and in many circumstances there is nothing wrong with that. Over the long haul however, there’s a problem with just being “good.” As the venerable Jim Collins has [...]