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The Fall of the Banner Ad: A Look at Online Advertising in 2014

The Fall of the Banner Ad: A Look at Online Advertising in 2014 | Customer Profit | Scoop.it
Online advertising has grown exponentially since its foundation in the 90s. Now, online ad sales make up the majority of the industry, and savvy companies are directing the lion’s share of their budgets at the digital space.Advertising through social media is nothing new, but so far, brands have been playing it safe, using many of the same methods that have already been successful in the past – combining banner- and text-link-style ads in news feeds and sidebars. But the possibilities of social advertising have yet to be fully explored.The real power comes not from the reach of a company’s network, but from getting that company’s customers to do the outreach FOR them.Social media is changing the way people view and interact with content online. While the idea of a website “page” has been a vital component in the way people understand the web, the use of feed-based content in Facebook, Twitter and Instagram has changed the concept of what a website IS. ....
Via Jeff Domansky
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Five Actions to Increase Customer Loyalty in 2014 - 1to1 Media (blog)

Five Actions to Increase Customer Loyalty in 2014 - 1to1 Media (blog) | Customer Profit | Scoop.it
Five Actions to Increase Customer Loyalty in 2014 1to1 Media (blog) April is Customer Loyalty Month, a great time for companies to take inventory of the best practices, processes, and metrics around how they're engaging with customers across the...
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5 ways to increase customer loyalty. Good article.
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Build Customer Loyalty Without Gimmicks

Build Customer Loyalty Without Gimmicks | Customer Profit | Scoop.it
Build customer loyalty by building relationships first. And build relationships by practicing the ideas here.
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Raving fans! Here are a few tips on how to get them.
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Best Practices for Using Promotional Products to Build Customer Loyalty | Loyalty360.org

Best Practices for Using Promotional Products to Build Customer Loyalty | Loyalty360.org | Customer Profit | Scoop.it
Customer loyalty is essential for business success, especially in an economy that is just now starting to recovery after years of distress.
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Live Innovations Focus on Improving Client Profit Margins after Identifying Breakdown in Customer Retention Strategy

Live Innovations Focus on Improving Client Profit Margins after Identifying Breakdown in Customer Retention Strategy | Customer Profit | Scoop.it
(PRWEB) March 17, 2014 -- London-based outsourced sales and marketing firm, Live Innovations, has identified a breakdown in their customer acquisition process and have begun devising a new strategy to fix the issues.
Michelle Reynolds's insight:
Focusing on customer retention cannot only increase your profits - it can increase your clients' profits too. How is your customer service and how are good is your retention rate? This article stresses the importance of a clear customer retention strategy.
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The Segmentation, Targeting and Positioning model - Smart Insights Digital Marketing Advice

The Segmentation, Targeting and Positioning model - Smart Insights Digital Marketing Advice | Customer Profit | Scoop.it
How to use Segmentation, Targeting and Positioning (STP) to develop marketing strategies Today, Segmentation, Targeting and Positioning (STP) is a familiar. Marketing topic(s):Customer segmentation/targeting, Marketing models.
Michelle Reynolds's insight:
Customer segmentation is one of the key ingredients to a more profitable business. By categorising your customers you can create marketing & pricing strategies which will maximise the return you make on your investment of time & money. This article discusses it in more detail.
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10 Tactics for Increasing Your Customer Value and Loyalty

10 Tactics for Increasing Your Customer Value and Loyalty | Customer Profit | Scoop.it
While there’s nothing wrong with working hard to grow your customer base, it’s important to remember the value behind customer retention and brand loyalty.
Michelle Reynolds's insight:
A great article on customer retention. It's good to focus on acquiring new customers, but so often companies lose out by ignoring their existing customer base. There is often huge potential just sat there waiting to be had. Look through your customer base and what they buy. You will soon find that some clients buy only one type of product or service. Can you sell anything else? Or perhaps they've bought only once. What can you do to get them to buy a second, or third time? This article has a few good ideas. I hope they help.
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Personalization – The Secret To Better Customer Experience | Loyalty360.org

OK, so check this out: If you go to the various sports properties around the web, you may be targeted with an SAP banner.
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This article talks about the benefits of personalising the messages & marketing you send to clients. It demonstrates how much more successful a personalised, targeted mailing can be for businesses. I spent 11 years in the direct mail industry & I saw it move from huge mailings to the masses, to small mailings targeted at small audiences. For example, we would take the data from a well known online florist & send specific mailings to the people who bought flowers for their partners on specific dates. Or we were able to personalise marketing messages for supermarkets with the knowledge that this person bought chocolates & this person liked wine. It's AMAZING what you can do with the right data. So before you embark on your next marketing campaign put in a little extra effort & personalise the messages you send. You will reap the rewards.
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8 Steps to Conquer Gmail's New Visual Promo Tab Feature - Business 2 Community

8 Steps to Conquer Gmail's New Visual Promo Tab Feature - Business 2 Community | Customer Profit | Scoop.it
8 Steps to Conquer Gmail's New Visual Promo Tab Feature Business 2 Community A strong and engaged Google+ presence works wonders for your SEO, but we also have heard of some exciting things in the pipeline that will allow you to organically segment...
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This could be well worth investigating - check it out if you're trying to raise your profile.
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Improving the Customer Experience Through Big Data Analytics

Improving the Customer Experience Through Big Data Analytics | Customer Profit | Scoop.it
Personalized, on-demand account and service information can create happier customers. (Big Data & Customer Experience.....
Michelle Reynolds's insight:
I hear people say that accounts are boring. It's the least favourite job of self employed people it would appear. Now despite the fact that I'm an accountant I have to agree! Doing the accounts is cumbersome. But there are 2 reasons why you have to do them and take care doing them. The first is to comply with legal requirements. HMRC & Companies House are the two authorities in the UK you have to keep happy! UK law means you have to ensure that the accounts you (or your accountant) submit are accurate. The second is much more exciting! When you take time to understand your numbers, you can use them to massively improve your business & the money you make out of it. Let me give you just a few examples: 1. Your sales invoices. When you enter them into an accounting system & code them against the range of products & services you deliver, then overtime you will begin to see trends. You can see which customers buy which products & which ones they don't. What a business opportunity! 2. Your costs. You spend money in small amounts & in single transactions, which makes it difficult to see a cumulative picture of how you're spending your cash. When it's in an accounting system it all gets added up. So you can quickly see what you're spending & assess it's value. "Big data" is a term which refers to using data to make a difference to your business. So rather than seeing accounts as boring, think about what you could do in your business if you gave it a little more attention. It could be the difference you're looking for.
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Improving targeting and segmentation approaches to boost conversion - Smart Insights Digital Marketing Advice

Improving targeting and segmentation approaches to boost conversion - Smart Insights Digital Marketing Advice | Customer Profit | Scoop.it
A review of the popularity and effectiveness of different CRO approaches Segmentation and targeting are so important to delivering relevant marketing messa. Marketing topic(s):Conversion optimisation strategy, Customer segmentation/targeting.
Michelle Reynolds's insight:

There are many who might not know that I spent 11 years in the direct mail industry.  During my "time" I saw direct mail transform itself from volume mailings to targeted mailings as more and more customers were seeing the benefit of using existing customer data to send the right message to the right person at the right time.

 

It's the norm now.  And yet so many companies still try to "mass mail" either by direct mail, email marketing or social media.  It may work - but the return on investment may not be as good as a more targeted approach.

 

By retrieving data from accounting systems, CRM systems and e-commerce sites and pulling it all together you can quickly form a cohesive picture of where sales and profit comes from.

 

It's essential, before under taking any marketing activity, to fully understand not only your customer, but also which type of customer is more profitable.  That way your marketing spend will reap even greater rewards.

 

To discuss the concept further please get in touch - I'd love to hear from you.

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Customer loyalty: Basic pre-requisite for business growth - The Punch

Customer loyalty: Basic pre-requisite for business growth - The Punch | Customer Profit | Scoop.it
Each customer interaction should be structured to build customer loyalty, excellent customer service experience and customer retention. Develop customer ... Customer loyalty and business profitability.
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Is there a direct link between customer loyalty & profit? What do you think?

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Know Your Customers: Content Marketing Success as Mutual Profit

Know Your Customers: Content Marketing Success as Mutual Profit | Customer Profit | Scoop.it
The ultimate goal of content marketing is to increase profit. Sure, the ways to do that have changed. The number of content formats people value has exploded.
Michelle Reynolds's insight:
Can content marketing increase profit? Only if it focuses on driving traffic to your most profitable products & services. Do you know what they are?
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Eight Developments That Will Change the Future of the Mobile Workforce - Directions Magazine

Eight Developments That Will Change the Future of the Mobile Workforce - Directions Magazine | Customer Profit | Scoop.it
Companies that grasp how to strategically leverage advanced analytics and location intelligence stand to drive efficiencies, improve customer service and boost profits.
Michelle Reynolds's insight:
By analysing data from accounts systems, websites & CRMs an organisation can determine how to increase efficiency, where to focus their efforts & cash investments & ultimately improve profit. So why so few companies do it?
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Customer Acquisition vs. Customer Retention

Customer Acquisition vs. Customer Retention | Customer Profit | Scoop.it
Advertisements, promotions, sales. These are all about increasing your client pool or customer acquisition. In 2009, it’s reported that companies spent 56% of their marketing budget on customer (#customer #acquisition vs.
Michelle Reynolds's insight:
"Many companies are guilty of wooing in new customers, while disregarding the ones they already have." Quote from this article - where do you focus your marketing efforts?
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Nkem Mpamah's curator insight, July 13, 7:42 AM

Customer Acquisition Vs. Customer Retention; Which wins for you?

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Drive Customer Loyalty By Truly Getting to Know Your Customers - Business 2 Community

Drive Customer Loyalty By Truly Getting to Know Your Customers - Business 2 Community | Customer Profit | Scoop.it
Drive Customer Loyalty By Truly Getting to Know Your Customers Business 2 Community Frequently, when companies examine how to increase customer loyalty, they focus on the external factors, rather than the internal factors that influence the...
Michelle Reynolds's insight:
B2C companies. Great article on how to get to know your customers better.
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Big Data: Hype or Hope? - ADOTAS

Big Data: Hype or Hope? - ADOTAS | Customer Profit | Scoop.it
Big Data: Hype or Hope? ADOTAS Marketers across the globe are exploiting Big Data for actual gain and analytics are becoming the bedrock for innovation, competitive positioning, customer experience, and productivity.
Michelle Reynolds's insight:
There is so much talk about "big data" at the moment. "What is it?" I hear you ask. It's simply this - it's about using the data you have to create information you can use to make more money. Yes! That's it. This is where I come in. I take data from your accounting system, your CRM, MIS, ERP, e-commerce system and anywhere else I can find it! And I pull it together to create a picture of what your business looks like right now. But it doesn't stop there. You then use this new information to make informed decisions about marketing, sales focus, cost control, investment, pricing ..and so much more. Result? A focused approach to business development. Oh - and a more profitable company.
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Small business owners shift attention from acquisition to retention - Marketing Pilgrim (blog)

Small business owners shift attention from acquisition to retention - Marketing Pilgrim (blog) | Customer Profit | Scoop.it
Small business owners shift attention from acquisition to retention Marketing Pilgrim (blog) Bia Kelsey Retention Report More than half of small businesses get more than half of their annual revenue from repeat customers.
Michelle Reynolds's insight:
Customer retention - interesting subject. This article talks about focusing on existing customers to build business.
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How to Identify Your Most Profitable Customers, Free Magento eBook

How to Identify Your Most Profitable Customers, Free Magento eBook | Customer Profit | Scoop.it
Free eBook to How to Identify Your Most Profitable Customers Learn how to get more out of your current customers through segmentation best practices.
Michelle Reynolds's insight:
This is my pet subject! Customer profitability. When you measure the profit you make out of each customer or type of customer, you can start making some powerful decisions. Your marketing, your cost base, your service levels, can all be tailored to meet not only the customers' requirements but also your own profit targets. It's a system I've used to turn losses into profit, and it's been an extremely effective tool to increase gross profit. If you have an e-commerce site I would recommend you consider measuring the profit you make out of your key accounts.
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How customer segmentation makes pricing easy - b2bVantage

How customer segmentation makes pricing easy - b2bVantage | Customer Profit | Scoop.it
I’ve written many times during this blog series about the need for b2b service providers to segment their customers and the benefits that can be derived from creating value segments.
Michelle Reynolds's insight:
Excellent article on the importance of customer segmentation and the benefit it can bring to your pricing policy & your bottom line.
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10 Ds of customer differentiation

10 Ds of customer differentiation | Customer Profit | Scoop.it
We're often told to segment our markets, but how? By size, age, sector, location? Here's a different way to look at your potential and actual customers to get you thinking about the sort of customers you want – and the ones you don't.
Michelle Reynolds's insight:
A different approach to customer segmentation. In my experience there are far too few small business owners who take the time to take time out to analyse their customer base. I also find, however, that those who do make more profit. Why? Because they focus their effort, their time & their cash on the customers who add value to their business. Try it sometime. It works.
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10 Tactics For Increasing Your Customer Lifetime Value and Loyalty

10 Tactics For Increasing Your Customer Lifetime Value and Loyalty | Customer Profit | Scoop.it
We live in an age of growth hacking and rock star startups taking the world by storm. As a result, many of us focus on new customer/user acquisition, even though it can cost 7x more than customer retention.
Michelle Reynolds's insight:

When thinking about growing sales it can be tempting to think first about finding new clients.  Yet often existing customers are overlooked. There's often talk about how insurance companies & banks focus too much on new business when they could increase sales by focusing on their current clients. It's easy to fall into the same trap.

 

I recommend you create a matrix of what you sell to whom - top customers down the left, products across the top. Then tick the customers against the products. This will highlight gaps. You then sell into those gaps. It's a simple technique - and it works - faster than finding new customers.

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Top 10 Tips to Skyrocket Your Customer Retention « Trustpilot Blog

Top 10 Tips to Skyrocket Your Customer Retention « Trustpilot Blog | Customer Profit | Scoop.it
Discover how to improve your customer retention strategies to increase the loyalty of your online customers. ... According to the Harvard Business School increasing your customer retention by 5% will see your profits increasing by 25% to 95%.
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Interesting research from HBS

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