Retention and Relationships : Marketing Thoughts by Michael Greenberg

As every serious marketer knows, the role of math, modeling, and statistics is only growing.  As I was recently perusing academic research and white papers on association rules, I was struck by how important my econometrics background has become.  I could follow the math and logic but I doubt more than 2% of all the marketing professionals I’ve worked with could also have done so.  As technology like on-demand CRM levels the application playing field, the winners and losers will increasingly be defined by strategy and tactics derived from superior insights.  Much like my earlier assertation that customer individuality will only increase, the importance of superior data-driven insight will only increase.

So if your children want to follow in your marketing footsteps, be sure they learn the statistics they will need to operate in the not-too-distant future of marketing.

My latest at Chief Marketer.

uTANGO has a business model built on a 30-year time horizon.  What if all companies took a longer view of their customer relationships?  Lifetime value would be more heavily influenced by retention, leading to changes in the allocation of marketing resources.  Plus acquisition spending would eventually come down, as revenue from existing customers begins to grow more quickly.