A SOLID BASE
Encouraged by a Marketsmith newsletter article on focusing on EBITDA, the General Manager of a niche multichannel marketer called us and said, “We need to cut our marketing expense by at least 15%, but we can not afford to give up any marketing services. What can you do for us?” At the time, the merchant had an annual circulation of about 12 million, did five matchbacks a year even though it mailed more frequently, housed its database at one of the major service bureaus, and updated the database only after each matchback.
Marketsmith created a bundled solution including monthly matchbacks, database updates, in-depth reporting and path to purchase analysis, plus an online access tool, merge/purge with NCOA processing, all ad hoc requests, and a 12% increase in circulation, all for 25% less per year than the company was paying. And, in a like services comparison, the savings was 40%!
The client signed on, and that day, we began working with the current service bureau to transfer data. The new database was operational within 60 days, with no down time in the data switch.
The company now has an improved bottom line, a more consistent cost structure, better and more easily accessible information, and a stronger marketing program.
How were we able to do this?
We build on a solid base – the Marketsmith Database, that is, a low cost, high value solution which allows marketers with annual sales under $50 million to have access to in-depth understanding of their data at a fraction of the cost they would expect to pay at a large database service provider. And, the database can be up and running within 60 days.
Our database solution consolidates all customer and transactional data and history into a user friendly, single repository which we then mine, measure, and analyze, to gain actionable insight.
We use this holistic view of the customer and purchase behavior to create and execute informed, focused, and integrated marketing strategies which deliver strong bottom line results.
We follow, measure, and interpret customer behavior across multiple inbound and outbound channels (e.g. retail, direct mail, call centers, web) by:
- Retail location
- Marketing campaign/activity
- Customer characteristics
- Seasonality
- Length of time as customer
- Previous purchase activity
- Appended data
We also track customer behavior and answer questions which are critical to developing the most effective contact strategies:
- When did the customer make his first purchase and his second purchase?
- How long did it take to convert the customer from a one-time to a two-time buyer?
- What is the difference between a customer who is a single or multi-channel buyer?
- What was the customer’s path to purchase? Across which mediums and channels?
We also collect data by purchase activity to inform merchandising strategy:
- What are the best selling products?
- Does it vary by customer demographics?
The database reports and presentation formats will provide a foundation for a strategic tactical implementation of the marketing contact strategy. The technology offers a marketing infrastructure that can deliver a consistent customer experience across channels and over time.
Additionally the merchant will:
- Deliver better customer service, improving retention and loyalty
- Achieve higher accuracy with targeted promotions
- Be able to recognize and take advantage of lifecycle events
- Have a clear view of cross-sell and upsell opportunities
- Lower marketing costs
Call us at (973) 889-0006 to find out how the Marketsmith Database can lower your costs and improve your results.
Tags: brand, brand building, branding, circulation planning, customer acquisition strategy, customer experience, database analysis, database marketing, marketing analysis, Marketsmith, matchbacks, multichannel marketer, multichannel marketing, online marketing Category: Newsletter Articles. Both comments and pings are currently closed.
