Thought Leadership Hub2019-03-13T16:01:27+00:00

“Inevitable Success”: The Thought Leadership Hub

1007, 2019

3 Key Strategies to Increase Customer Acquisition

Building Your Customer Base Customer acquisition is difficult for any business. In fact, many studies have found that it is five times more difficult to acquire a new customer than to obtain an existing one. As the digital world keeps evolving, the way consumers ingest and use information has changed - particularly in the way they shop and interac [...]

307, 2019

How Integrating Direct Mail and Email Can Boost Sales

Omnichannel Success In this omnichannel age of marketing, multiple impressions across channels not only heighten your brand awareness, they increase your likelihood of sales and conversions.  The proper combination of email and direct mail serves as an excellent example of this principle, and is well worth taking the time to both understand and im [...]

2806, 2019

Discounting Strategies: 3 Steps To a Winning Plan [Attn: Retailers]

Discounts Driving Profits One of the most effective methods retailers use to boost sales and customer engagement is by offering discounts on their products. In fact, a Software Advice study found that discounting is the most popular retail pricing strategy of all, with 97 percent of survey respondents stating that they utilize discount pricing. Ho [...]

2006, 2019

Using Machine Learning in Retail Marketing

What is Machine Learning? Machine Learning (ML) is a subset of Artificial Intelligence (AI) geared to improve data analysis and model building via pattern recognition. Through ML, computers can get better at identifying patterns over time and make their own informed decisions as they ingest more data. Let’s examine ways machine learning is helping [...]

1406, 2019

How to Succeed with Database Marketing Strategies

The Guide to Marketing Nirvana [Step 7] Since deciding to invest in your Predictive Marketing Automation [PMA] platform, you’ve generated a wide range of actionable customer intelligence and insights along the way. You’ve integrated all relevant data and enhanced your database so you know more about your customer base than ever before. You also ha [...]

306, 2019

5 Simple Ways to Get Repeat Customers

The One-Time Buyer Problem One-time buyers represent the largest overlooked opportunity for retail commerce marketers today. In fact, it has been that way as long as there have been retail sales. Rather than focusing on the Trial (one-time purchase) population, organizations instead remain focused on acquisition as an avenue for growth. Yet the gr [...]

3005, 2019

How To Get More Customers Through Targeted Acquisition

The Guide to Marketing Nirvana [Step 6] Customer Growth Growing a business is actually very simple, as any new MBA will tell you. To grow, all you need to do is increase sales to existing customers, acquire new customers, or both.   But the truth is, as new MBA’s quickly discover, growth is not easy and customer acquisition is very difficult - par [...]

2105, 2019

How is Artificial Intelligence (AI) Changing Retail?

The Rise of AI [And What it Means for Retailers] Artificial Intelligence (AI) is defined as human-generated computational devices and/or systems that are designed to exhibit “intelligent” abilities and behavior. While this quickly evolving technology is already altering and disrupting a variety of industries, it has uncovered a wide range of new p [...]

705, 2019

Marketing Automation: The Way Retailers Win

The Guide to Marketing Nirvana [Step 5] The world of marketing and advertising is changing at breakneck speed. Programmatic advertising buys see changes in the cost of impressions from minute-to-minute. The cost of search terms rise and fall based on competitive bidding. Batch-and-blast emails are flooding inboxes. In addition, competitive marketi [...]

2904, 2019

5 Risks of Selling on Amazon [And 1 Key Advantage]

The Amazon Effect These days, there is no denying the power of Amazon. Given their enormous influence in the world of E-commerce (and beyond), they offer the opportunity to dramatically increase both your profits and customer base. With 100 million dedicated Prime members worldwide and many studies confirming that over half of all product searches [...]

1004, 2019

How to Launch Email Campaigns in the Omnichannel Age

PMAs and Email Campaigns We’ve already talked about customer segments, personas, behavior, and value. Now, we’ll focus on using this knowledge to design comprehensive, intelligent, and target customer journey-based email campaigns. This is an essential step towards maximizing the potential of every one of your customers. For many companies, email [...]

2603, 2019

Understanding Causation vs. Correlation in Marketing

How to Infer Causation  A key component of marketing success is the ability to determine the relationship between causation and correlation. Namely, the difference between the two. First, let’s define the two terms: Correlation is a relationship between two or more variables or attributes. From a statistics perspective, correlation (commonly measu [...]

2103, 2019

How to Build Trust with Customers and Increase Purchase Rate

Damian Bergamaschi: Welcome to the Inevitable Success Podcast sponsored by BuyerGenomics, where our goal is to help you, the marketer, make success inevitable. Each episode will discuss the craft of data-driven marketing, helping you uncover new and profitable ideas. You will also learn what works and what doesn't work from top marketing professio [...]

1303, 2019

Creating Customer Journeys: The Guide to Marketing Nirvana [Step 3]

Segmentation Strategies In Part 2 of our Marketing Nirvana series, you learned how to identify who your customers are (sometimes referred to as a buyer’s persona), where they come from, how they purchase your products, and their preferences. We also broke down the Buyer Lifecycle (BLC) and how it relates to the natural progression of a customer/re [...]

2802, 2019

The Guide to Personalized Marketing

Personalization is about the Person At its core, 1:1 marking is about people - not products or channels. In fact, not just “people,” but individuals. But the truth is, most marketers treat consumers as one-dimensional commodities, or worse - extensions of their last product purchased. This leads directly to improper personalization with irrelevant [...]

2202, 2019

Find More Good Customers (While Avoiding the Bad)

Who Are Good Customers vs Who Are Bad Customers Your host Damian Bergamaschi & Stephen Yu, Chief Product Officer at BuyerGenomics, discuss what makes a customer either good or bad. As the episode begins we learn that the topic question is a bit of a loaded question. As marketers, we have to dig in and define what a good customer is for your bu [...]

1902, 2019

Transforming Your Data Into a Marketing Plan

The Guide to Marketing Nirvana [Step 2] 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 available channels - generating the template for the omnichannel, 360-degree [...]

1202, 2019

How Do You Choose What to Automate?

A Marketer's Dilemma: Choosing What to Automate 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 when it comes to automation. [...]

602, 2019

How to Build A Customer Database

The Guide to Marketing Nirvana [Step 1] 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 do not have access to the resources than can transform th [...]

2301, 2019

Earning The Second Purchase

How To Increase Lifetime Value: Earn The Second Purchase 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 BuyerGenomics, discusse [...]

801, 2019

Predictive Marketing Automation [vs. ESP, CRM, CDP]

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 individuals in real time or near time. However, a PMA platform does [...]

1912, 2018

Trusting Your Marketing Results: Causation & Correlation

Causation vs Correlation 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 it’s true over time then make money with it. D [...]

1312, 2018

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 examination of what has happened in the past, you can determine the greatest likeliho [...]

2911, 2018

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 never been more relevant than right now. Essentially, a Customer Data Platform software is a web-based [...]

1311, 2018

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 specific parameters: Sample Size Test Size [...]

2610, 2018

Solving The Top 3 Problems Retailers Face

THE TOP 3 PROBLEMS RETAILERS FACE 2019 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 first. If you treat everybody the same, by [...]

1910, 2018

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 cha [...]

1210, 2018

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? Stephen Yu, Chief Product Officer at BuyerGenomics, discusses t [...]

510, 2018

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 is planning for your future because if you [...]

210, 2018

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 number of customers especially activ [...]

2609, 2018

What is The Difference Between Attrition and Retention?

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 with Damian and special guest [...]

2109, 2018

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 i [...]

1909, 2018

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 the person sees on the website or store you can see [...]

1209, 2018

What Customer Data Type Should You Use?

The Best Type of Customer Data 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 general past behavior is the bes [...]

409, 2018

How to Implement Personalization and What The Limits Are

Implementing Personalization  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 really about me.” Another definition of personalization [...]

2808, 2018

The Difference Between Data Posers and (Real) Data Players

How to Identify a Data Poser 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 that word around for pretty much anything relat [...]

1408, 2018

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 customers to come in—will lose out. A je [...]

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. Over 25 [...]

3107, 2018

4 Types of Data Analytics to Improve Your Business

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." "I have a very small bounce rate, or delivery rate, open rate, click-through ra [...]

1307, 2018

Why Do Businesses Struggle to Commit to Analytics?

Marketing Analytics Problems (Solved) The main reason companies give up on analytics is because they do not get 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 helps to avoid death by KPI. T [...]

2806, 2018

Solving Your One Time Buyer Problem

The One Time Buyer Problem 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 first statement is, don't g [...]

3005, 2018

Direct Mail and Marketing Automation

THE ROLE OF DIRECT MAIL IN 2019: USING THE BUYER LIFECYCLE AND MARKETING AUTOMATION (PART 2) 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 average e-mail inbox [...]

1605, 2018

Ditching Rule Based Segmentation

DITCH RULE-BASED SEGMENTATION 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, however, segments built with a handful of variables based on users’ imagination [...]

2704, 2018

The Role of Direct Mail in 2019

DIRECT MAIL IN 2019: PART 1 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 than ever, which makes high-quality [...]

1603, 2018

Using Paid Search in an Omni Channel Marketing Strategy

Including Paid Search in an Omni Channel Marketing Strategy 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. Build a strate [...]

903, 2018

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

Is New Customer Acquisition Considered a Marketing Cost or a Business Investment 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 acquisition [...]

2202, 2018

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

Acquire More Most Valuable Buyers (MVBs)  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 episode off with asking about the right way to look a [...]

2002, 2018

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

Capture 100% of a Buyer's Potential Value 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 the total amount spent on the category. After G [...]

1402, 2018

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

Marketing Strategies to Scale Up Your Acquistion 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 where the marketer is thinking today w [...]

802, 2018

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

THE (REAL) COST OF NEW CUSTOMER ACQUISTION 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 it is real and needs to be uncovered f [...]

602, 2018

The 4 P’s of Marketing and Nailing the Right Marketing Mix in 2019

NAILING THE RIGHT MARKETING MIX IN 2019 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. First, they kick it off by defining and [...]

202, 2018

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

PRIME YOUR BUSINESS FOR NEW CUSTOMER GROWTHOn 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 acquisition.Mike kicks off the interview with a sto [...]

2301, 2018

Marketing Automation: Debunking the 6 Most Common Myths (2019)

The 6 Most Common Myths (2019) 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 wrap up, Mike shares a story about when marketing [...]

1601, 2018

Strategic Approaches to New Customer Acquisition

BROADCASTING VS NARROWCASTING Customer acquisition costs continue to rise aggressively, and that trend shows no signs of stopping. Today we discuss broadcasting versus narrowcasting to explore alternative strategic approaches that get more with less. Moreover, Mike Ferranti will cover five steps that you can take now to address the realities of ag [...]

1101, 2018

Understanding Your Customer Base: Full Price vs Discount Buyers

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 that with a holistic marketing strategy [...]

801, 2018

Data Governance

What is Data Governance? 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 lightly edited tr [...]

2912, 2017

How Do You Maximize Customer Value through Segmentation?

Maximizing Customer Value Through Segmentation 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 about database marketing [...]

2811, 2017

What is CRM (Customer Relationship Management)?

Defining a CRM Strategy 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 misundersto [...]

1809, 2017

BuyerGenomics at directXchage 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 retail struggling today, Dylan’s Candy Bar is tra [...]

2606, 2017

BuyerGenomics Presenting at Google NYC (Case Study)

Elite SEM Summit Presentation 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 moving with the elite part [...]

1004, 2017

BuyerGenomics at the SFA Business Summit

SFA Business Summit Presentation 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. [00:00:03] Now ther [...]

2702, 2017

Great Business Are Built on Great Customers

Also Featured on:  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 researched and proven --all businesses over t [...]