The Inevitable Success Podcast

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 […] The post A/B Testing – How Do You Declare a Winner? appeared first on BuyerGenomics.

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 […] The post Solving The Top 3 Problems Retailers Face appeared first on BuyerGenomics.

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 […] The post How to: Create The (Right) Customer Profile appeared first on BuyerGenomics.

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 […] The post 2019 Marketing Trends: Will AI Replace Marketers? appeared first on BuyerGenomics.

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 […] The post A Database Marketing Veteran's Guide to Managing SKUs appeared first on BuyerGenomics.

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 […] The post Customer-Centric Marketing: a 360 Degree View of Your Customer appeared first on BuyerGenomics.

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) […] The post Attrition vs. Retention: What's The Difference? appeared first on BuyerGenomics.

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 post How Marketers Use Purchase History to Their Advantage appeared first on BuyerGenomics.

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 […] The post What Customer Data Type Should You Use? appeared first on BuyerGenomics.

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.” […] The post How to Implement Personalization and What The Limits Are appeared first on BuyerGenomics.

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 […] The post The Difference Between Data Posers and (Real) Data Players appeared first on BuyerGenomics.

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 […] The post 4 Types of Data Analytics to Improve Your Business appeared first on BuyerGenomics.

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 […] The post Why Do Businesses Struggle to Commit to Analytics? appeared first on BuyerGenomics.

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 […] The post Solving Your One Time Buyer Problem appeared first on BuyerGenomics.

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 has […] The post Direct Mail and Marketing Automation appeared first on BuyerGenomics.

DIRECT MAIL'S MARKETING ROLE TODAY: 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 […] The post Direct Mail's Marketing Role Has Evolved appeared first on BuyerGenomics.

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 […] The post Using Paid Search in an Omni Channel Marketing Strategy appeared first on BuyerGenomics.

Is New Customer Acquisition Considered a Marketing Cost or a Business Investment The effectiveness of all marketing 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 […] The post New Customer Acquisition: Marketing Cost vs. Business Investment [Part 5] appeared first on BuyerGenomics.

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 post New Customer Acquisition: Acquiring your Most Valuable Buyers (MVBs) [Part 4] appeared first on BuyerGenomics.

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 post Grow Share of Wallet: Capture 100% of a Buyer's Potential Value (New Ideas) appeared first on BuyerGenomics.

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 […] The post New Customer Acquisition: Marketing Strategies to Scale up your Acquisition [Part 3] appeared first on BuyerGenomics.

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 […] The post New Customer Acquisition: the (Real) Cost of Customer Acquisition [Part 2] appeared first on BuyerGenomics.

NAILING THE RIGHT MARKETING MIX IN 2019 On today's episode, we have recurring guest Gary Beck – a 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 […] The post The 4 P's of Marketing and Nailing the Right Marketing Mix in 2019 appeared first on BuyerGenomics.

PRIME YOUR BUSINESS FOR NEW CUSTOMER GROWTH 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 acquisition. […] The post New Customer Acquisition: Prime your Business for New Customer Growth [Part 1] appeared first on BuyerGenomics.

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 […] The post Marketing Automation: Debunking the 6 Most Common Myths (2019) appeared first on BuyerGenomics.

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 aggressive customer growth targets. […] The post Strategic Approaches to New Customer Acquisition appeared first on BuyerGenomics.

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. 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 to maximize […] The post Understanding Your Customer Base: Full Price vs Discount Buyers appeared first on BuyerGenomics.

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 transcript of Episode 3 of the […] The post Data Governance appeared first on BuyerGenomics.

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 and this segment we're going […] The post How Do You Maximize Customer Value through Segmentation? appeared first on BuyerGenomics.

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 misunderstood terms […] The post What is CRM (Customer Relationship Management)? appeared first on BuyerGenomics.