If you’re not really clear on what you’re trying to accomplish, designing a successful customer retention program can be a bit of a struggle. Hey, maybe you just don’t know what to look for...
https://blog.jimnovo.com/2024/04/17/define-frequency-metric-b2b/
Time to take a look at some basic strategy framework ideas in a customer retention program. You have to know where you are first before you can decide what actions to take, and this initial analy...
https://blog.jimnovo.com/2024/04/03/context-needed-recency-metric/
OK Jim, so what if the small business is “old school”, you know, not a lot of computer stuff other than billing / scheduling and so forth, and knowledge of spreadsheets is limited. Can the bu...
https://blog.jimnovo.com/2024/03/20/customer-marketing-carpet-store/
I hear from lots of “really small” business owners who are interested in doing “loyalty programs” or similar types of marketing – particularly in service businesses – but think these ...
https://blog.jimnovo.com/2024/03/06/customer-marketing-pedicure-spa/
Simple question below, not so simple answer. There’s a lot of conflicting ideas floating around on the subject of how to measure customer retention properly, and to be honest, it really does de...
https://blog.jimnovo.com/2024/02/21/actionable-customer-retention-measurement/
So, how to you actually set up the measurment for a retention program? Since you will ultimately want to conclusively prove that what you are doing is working, the 1st thing you have to is measur...
https://blog.jimnovo.com/2024/02/14/wireless-retention-program-measurement/
If you’ve never actually segmented customers by behavior, it can be a bit tricky exercise. Just remember this: if improved customer retention is the goal, you want to segment with ideas and dat...
https://blog.jimnovo.com/2024/01/31/segmentation-wireless-customers/
Oh dear. A marketer caught between branding and direct. Each approach has it’s own data and metrics that either can be important or not to the folks working with the other approach. Can the mea...
https://blog.jimnovo.com/2024/01/24/branding-vs-direct-metrics/
Only attempt to control what you can actually get control of. In a massive operational system, sometimes everybody agrees they would like to improve this or that customer retention metric. But th...
https://blog.jimnovo.com/2024/01/17/predicting-student-churn/
This month in the newsletter we answer questions on the nitty gritty of the actual discovery work by taking a very deep look into the whys and hows of segmenting customers. Straight-up and to the...
https://blog.jimnovo.com/2024/01/10/segment-customers-by-behavior/
What’s the best way to handle customized marketing programs, particularly if you are using customer value as the key segmentation approach? Surprise and delight, perhaps slightly influenced by ...
https://blog.jimnovo.com/2023/12/13/marketing-customer-perks/
Do you manage your own investments in the stock market? If you do, you probably have used technical indicators like moving average of prices or up / down volume balances or similar to make invest...
https://blog.jimnovo.com/2023/12/06/managing-customer-value-like-investment-portfolio/
How do you measure likelihood of customer defection when purchase behavior is highly orchestrated or executed due to repetitive billings? Yea, it’s a bit more complicated because “orders” r...
https://blog.jimnovo.com/2023/11/29/rfm-customer-retention-subscription/
Traditional RFM execution is focused on giving a snapshot view of customer likelihood to respond / campaign profitability across large and varied customer databases. But is that all it can be use...
https://blog.jimnovo.com/2023/11/15/rfm-improve-email-profit/
Sometimes the traditional RFM model does not work very well for a specific business model. For example, small business databases can be too small to fill out all 125 RFM segments properly, resusl...
The standard RFM customer model is essentially a “snapshot” of likelihood to purchase (and so perhaps also profitability of campaign) at a given point in time. But what if you took these snap...
https://blog.jimnovo.com/2023/11/01/new-rfm-behavior-snapshots-versus-movies/
How do you handle the measurement of “likely to purchase” when there’s a built in cycle of purchase as a “member”, like in a book club or other auto-delivery scheme? And what if a membe...
https://blog.jimnovo.com/2023/10/25/ex-members-still-customers/
What happens when your business doesn’t really fit the mold of traditional customer scoring that retail and similar businesses use? Well, you can certainly come up with a version of the tradion...
https://blog.jimnovo.com/2023/10/18/travel-retention-and-defection-scoring/
Yea, I know. Boss wants to do smart customer marketing, but also wants to know what the payback will be for the “CRM investment”. Geesh, can’t we just figure cost out later? Sure you can, b...
Sure, you can do a ton of analysis and find out all kinds of cool things about the behavior of your customers. But what about implementation, how do you execute on all this info? There are some u...
https://blog.jimnovo.com/2023/10/04/campaign-cost-versus-customer-value/