Part 1: Understanding Lifetime Value of Customers
This is a simple business concept that is not necessarily that widely known. Intuitively we understand that customers that are loyal and keep coming back are the heart of business. However when was the...
View ArticlePart 2: Calculating Lifetime Value of Customers – a simple example
At the most basic level calculating the lifetime value of customers can be done using some assumptions and a simple spreadsheet like the one below: In the above example I have used a yoga studio as an...
View ArticleHow to get the CFO on marketing’s side
I recently ran a session in Chicago on Strategic Return on Marketing Investment (ROMI) and one of the questions that came up during the session was related to defending the marketing budget with the...
View ArticleMeasuring your company’s Market-Driven Culture: There’s an app for that!
The MRI Circumplex - shows a company's customer culture With all the talk these days about customer experience and increasing customer focus etc… it always amazes me that there is no internal measure...
View Article3 ways to secure senior management buy-in and use it to establish a...
Image from John Kotter's Great Book on the Subject of Buy-in One of the greatest challenges for customer experience executives is gaining buy-in for investments in improving the customer experience....
View ArticlePrioritizing Customer Experience Investments
Making deliberate efforts to improve the customer experience can require significant investments. So how do you decide on which customer experience investments to make? It begins by understanding the...
View ArticleHow to measure awareness advertising
If customers don’t know you exist your chances of attracting them are the same as trying to teach an elephant to tap dance. This is the first rule in marketing – make sure your potential customers are...
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