By Robert C. Blattberg
Database advertising is on the crossroads of know-how, company method, and shopper dating administration. Enabled via subtle details and communique structures, today’s companies manage to research purchaser information to notify and increase each part of the enterprise―from branding and advertising campaigns to provide chain administration to worker education to new product improvement. in keeping with many years of collective examine, educating, and alertness within the box, the authors current the main finished remedy to this point of database advertising and marketing, integrating conception and perform. proposing rigorous versions, methodologies, and strategies (including info assortment, box checking out, and predictive modeling), and illustrating them via dozens of examples, the authors conceal the total spectrum of ideas and themes relating to database marketing.
"This is a superb in-depth review of either recognized and intensely contemporary subject matters in client administration types. it really is an absolute needs to for sellers who are looking to enhance their wisdom on patron analytics." (Peter C. Verhoef, Professor of promoting, school of Economics and enterprise, collage of Groningen)
"A fabulous mixture of relevance and complex but comprehensible analytical fabric. it may be a customary reference within the quarter for plenty of years." (Don Lehmann, George E. Warren Professor of industrial, Columbia enterprise School)
"The name tells much in regards to the book's approach―though the canopy reads, "database," the content material is generally approximately clients and that is the place the real-world motion is. most pleasurable is the excellent tale – in case after case – which in actual fact explains what the research and ideas relatively suggest. this can be an important learn for these attracted to database advertising and marketing, shopper dating administration and buyer optimization." (Richard Hochhauser, President and CEO, Harte-Hanks, Inc.)
"In this travel de strength of cautious scholarship, the authors canvass the ever increasing literature on database advertising. This ebook turns into a useful reference or textual content for a person practising, gaining knowledge of, instructing or learning the subject." (Edward C. Malthouse, Theodore R. and Annie Laurie Sills affiliate Professor of built-in advertising Communications, Northwestern University)
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Extra info for Database Marketing : Analyzing and Managing Customers
Second is that these tables actually predict what will happen once the marketing campaign is launched. There are several examples to demonstrate the feasibility of lift tables (“charts” when shown graphically). 2 is from Ansari and Mela (2003) 20 2 Why Database Marketing? % Who Click Through 80% 60% 40% 20% 0% 1 2 3 4 5 6 7 8 9 10 Decile Fig. 2 Lift chart for an e-mail campaign (From Ansari and Mela 2003). on targeted e-mail. The goal was to use e-mail to generate visits to an information-oriented website.
While the above paints a dim picture of database marketing as the basis for CRM, the Conference Board (Bodenberg 2001) sampled 96 marketing and sales executives, representing a cross-section of companies in terms of manufacturing versus service, revenues, B2B versus B2C, and size of customer base. Eighty percent of respondents reported their CRM eﬀorts either somewhat or very successful. Companies who report very successful eﬀorts are more likely to warehouse their own data. This suggests a strong commitment to CRM.
Unfortunately there is not a solid foundation for the cost side. It may be far more costly, or impossible, to increase retention rates from 80% to 90% than it is to increase acquisition rates from 1% to 5%. Generalizations about the costs of increasing intention rates have not been well documented. This is an empirical question and may be ﬁrm speciﬁc. See Chapter 26 for more discussion of acquisition versus retention strategies. 15 acquisition cost per customer number of customers ongoing marketing cost per customer revenues per customer COGS per customer discount rate Fig.