OK, I have to admit I did not pick the title…my editor at Chief Marketer did.
But here’s my latest article. My main point is that marketers should focus on improving their ability to deliver relevant products and messages to an increasing number of smaller customer segments. Its based on individuality trends that are unlikely to reverse in the coming years. Enjoy.
Its now time to find out how effective everyone’s relationship efforts were throughout the year. Confronted with a blizzard of offers, catalogs, ads, and products, consumer choice will come down to who can cut through the clutter.
The first test is Thanksgiving weekend, where companies are pouring email and direct mail into the hands of key customers (well, lets be serious, everyone is getting something). I count inbounds from 46 different companies on personal accounts on Monday-Tuesday alone, plus direct mail inbounds from another 33 on the same days. While deals still influence visitation if someone offers just the right item, nowadays the choice is heavily influenced by our relationship with the destination. Its nice that some companies are reaching out to me now, but trying to relate to me once a year just has little impact on my decision.
The second, and more interesting, test is the email and direct mail they deliver in the 3rd and 4th weeks of December. Who will try and relate to the gifts I bought last year, and point me towards similar categories? Who see that I respond to coupons? This is the fun part of holiday…I’ll come back to it in January and analyze.
My latest article for Chief Marketer is one that influences everything we do at Loyalty Lab. The idea of reserving substantal resources for hidden programs is key to long term success in relationship programs, especially for companies where a small number of customers account for a substantial portion of revenue and profits.