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All Blog Posts Tagged 'Consumer' (7)

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Marketers need new models..customer behaviour is changing!

For Marketer’s any change in customer behaviour is a “gold mine”. Marketing to customer’s whose behaviour is changing is far more rewarding than marketing to “static” customers! But sometimes there is "too much change" and in today's market that is exactly what is happening. Marketer's need ,what we at Cequity, call a Modelling factory approach-How to build models at speed!



Gallup chief economist Dennis Jacobe concurs that "a fundamental change is taking place" in the behavior of… Continue

Added by Chandan Pathak on October 16, 2009 at 7:18am — No Comments

Steering customers to multiple channels!

Customers are using your services through multiple channels. Customer’s access their bank through either the branch or Internet banking or other channels such as ATMs and mobile banking. Multi channel behavior however needs to be intelligently decoded. Mc Kinsey research shows that Multichannel customers spend on average 20 to 30% more than single channel users. More than 80 percent of a broad cross-section of U.S. retailers now report that they sell merchandise through multiple channels.… Continue

Added by Chandan Pathak on October 16, 2009 at 7:02am — No Comments

A Better Way to Mine Data

The good news, for marketers, is that data mining really can make a difference to most bottom lines. The bad news is that, despite what data mining can do, it is so often used so poorly that it is virtually useless.



In many cases, the data is a big part of the problem. Even in the most reputable companies, data is often “dirty,”—out of date or otherwise irrelevant. Most commercially available data mining packages lack the flexibility and functionality that real world marketers need.… Continue

Added by Chandan Pathak on October 16, 2009 at 5:34am — No Comments

The Politics of Data!

Companies collect so much data today and yet when you go looking for it you will often find barriers! So what’s wrong…If we were honest with ourselves, as professionals, we would admit what Rosabeth Moss Kanter suggested in 1979 in a famous Harvard Business Review article: that “Power is Americas last dirty word. It is easier to talk about money -- and much easier to talk about sex -- than it is to talk about power. People who have it deny it; people who want to it do not want to appear to… Continue

Added by Chandan Pathak on September 22, 2009 at 2:01pm — No Comments

Who controls Personalized Customer Communication?

Marketers believe that creating “personalized communication” is important to drive a relevant communication strategy. But often they do not have control over the personalization process. Often very shoddy and “very personal” communication gets sent out by local sales folk which does nothing to enhance the brand perception and even less to the effectiveness of the communication. In a bank, the billing process is possibly as “personal as it can get” but rarely would you find anything but mass… Continue

Added by Chandan Pathak on September 22, 2009 at 1:49pm — No Comments

Drowning in Data!

Companies around the world are literally drowning in data. A typical airline or retailer, for example, is collecting data from many operational systems and storing terabytes, if not petabytes, of data. But how closely do CMO’s and CIO’s actually work or are they often at cross purposes! In India and I am sure in other furiously growing markets as well, IT is so busy building the basic infrastructure to manage the business that they often ignore the strategic priorities that Marketing is trying… Continue

Added by Chandan Pathak on September 22, 2009 at 1:46pm — 2 Comments

THE PSYCHOLOGY OF WAITING!

Frank Capek has this very interesting take on something that we end up doing everyday - WAITING! In fact today “waiting” has become multi-channel-you wait in physical queues and you also wait on the IVR for the call centre agent.



Here is what Frank says: It’s hard to overestimate the impact of waiting on your customers’ experience. Across the research we’ve conducted, some of the most dramatic customer defections occur because of bad waiting experiences.



You can help… Continue

Added by Chandan Pathak on September 17, 2009 at 6:52am — No Comments

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