When the MacDonald’s guy politely asks you “ Would you like to have French fries with that?” at the time you are about to make a payment for the Cheese Burger you wish to eat , the French fries amount to a cross-sell! This small question gives them a whopping 4 million kilograms of friesRead more
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Customer Lifetime Value (CLV) is a crucial metric for the success and sustainability of any business. CLV represents the total amount of money a customer is expected to spend in your business, or on your products, during their lifetime. Now let’s look at a simple way of calculating CLV. Let’s assume : Profit generated byRead more
In the book Marketing Metrics, the author states, “The probability of selling to a new prospect is 5-20%. The probability of selling to an existing customer is 60-70%.” That’s where the fairly simple concepts of up-selling and cross-selling come into picture. Though often used interchangeably, there’s a meaningful difference between the two. Up-selling is convincingRead more
“We see our customers as invited guests to a party, and we are the hosts. It’s our job everyday to make every important aspect of the customer experience a little better.” – Jeff Bezos If you get the essence of the above message right then customer retention would be a cakewalk for you and youRead more
User re-activation is nothing but resurrecting inactive users and dormant accounts whom we have lost touch with for some amount of time. We all make that one last attempt to ignite a spark in a relationship which is almost on the verge of becoming stale or mending a broken relationship which we valued so muchRead more
Lately, there has been a profound change in the buying behavior of customers. Marketers, on the other hand, have a lot on their plate— mainly in the B2B buying environment. It wouldn’t be surprising to consider B2B marketing as an inbound process where buyers are currently calling the shots instead of the unassuming marketers. Moreover,Read more
Enterprises often rely on predictive analytics to assess risks and pre-empt the profitability quotient. While the crusade was initially started by the likes of Amazon and Google, companies, regardless of their size and spread, have grown a liking for predictive analytics for gaining a competitive advantage against their contemporaries. Moreover, the proliferation of Big DataRead more
Customer expectations and requirements have evolved over the years. Needless to say, customers detest being treated as the revenue generators and it is actually important for the enterprises to take a closer look at the satisfying metrics. Based on a study conducted by Experian Marketing Services in 2012, almost 84 percent of the existing customersRead more
Social media has come a long way. From being an unknown cyber place where people hang out, to a much-evolved marketing platform with access to potential leads across the whole globe. It’s a great place to have a conversation, share information and keep in touch with your customers and potentials. There is no denying thatRead more
Marketers are constantly on the lookout for ideas that can help them optimize and automate a host of programs. Be it producing quality content or improving the existing ROI, enterprises usually prioritize productivity when it comes to adopting select marketing automation techniques. However, another facet that’s becoming increasingly popular is customer engagement, targeting user journeysRead more
