My latest article for Chief Marketer.
Here’s an excerpt:
Everyone has customers who are more valuable than others. But why do you have them? Put another way, why did they choose to become a high-value customer?
It seems like an obvious question. But answering it is tougher than you might think. The answers get at the core of why you are succeeding (or not) as a company. Read more…
I had an interesting call with a company a week ago that has incorporated Fred Reichheld’s net promoter score deeply into their operations.
While I can’t comment on the strength or weakness of using NPS as a KPI, it showed how focused an organzation can get when it isolates one KPI and tries to maximize it.
Technology choices are based on impact on NPS. Champion/challenger tests focus on NPS. In fact, it seemed everything focused on NPS. It was actually quite refreshing, because everyone there knew the most important goal of company, and every decision was made to improve result son one dimension.
This company has been very successful over the last five years, and I will guess its because they focus in on one thing, and everyone works their tail off to make it better. They don’t get distracted by the latest shiny object to cross their path…and just relentlessly optimize their single most important KPI. Hard to compete with that.
This blog will focus on the intersection of marketing and technology around managing customer relationships in consumer and retail businesses.
Sounds droll, but if you are in this profession you know how difficult it can be to be successful, and how much change there is in the space.
I keep hearing how the typical CMO tenure continues to drop, and I’m convinced its because marketers with traditional training underestimate the effectiveness of relationship and technology-based marketing and advertising.
There is, finally, a wave of new practitioners in the space (still mostly at the VP and Director level), for whom an holistic understanding of customer relationships, regardless of interaction channel, is their mantra.
If you are part of this new wave, this blog is for you.