Longbow Marketing Blog

Let the bad times roll?

22 May 09 - Arthur Einstein

Chrysler’s in bankruptcy.  GM may be next.  The silver linings on the cloudy horizon are pretty faint right now.  And, yet … I’m not ready to give up the ghost and I doubt that you are either.

The question is, what to do?   Sit around and wait for things to change?  Or take some action that will give destiny a nudge in the right direction?  

Personally, I’ve always believed the philosopher who said “the only reality is in action”.  And one action I believe everyone needs to consider in tough times is how marketing dollars are being spent.

Right now all the experts are advising us to focus on our customers.  (That’s always been our business at Loyalty Builders).  Customers are the core strength of any business and an even more important asset in a slow-down.  The programs that support customers, keep them happy, and keep them coming back to buy, are critical.  
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So what will it take to convince you?

19 Apr 09 - Mark Klein

All of us could use some marketing help in today’s tough environment, and there are plenty of marketing services firms ready to sell us their services. But more than ever companies need to spend their money wisely and justify, in advance if possible, commitments they are about to undertake. At the risk of making our own life more difficult, we offer here the minimum set of requirements you should require from any analytics vendor you’re thinking of using.

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Beware the Cellophane Curtain

03 Mar 09 - Arthur Einstein

On the shelf next to the fax machine in my office sits a boxed piece of software called GOLDMINE, “The #1-Rated Contact Manager”.  Copy on the box says it is “100% Internet Ready!” and “Designed for Microsoft Windows 95”, which gives you some idea of how long it’s been sitting there with its cellophane shrink-wrap still unbroken.

As someone who spent years sweating the advertising that was supposed to make a sale, this makes me heartsick.  That’s because, I learned an important lesson along the way.    It makes no difference how the application is delivered – it can be downloaded, shipped in a box, or delivered as a web service - it isn’t really sold until it’s unwrapped, installed, integrated into the buyer’s business process, and used regularly.  

That is why we’ve just developed a Concierge Service to support our Longbow clients.
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Marketing to your best customers when business stinks

01 Feb 09 - Arthur Einstein

It’s the oldest cliché in business - recession is a time of opportunity.  But a raft of research confirms it's true.  People who market aggressively in downturns not only survive but consistently emerge stronger.  As Casey Stengel would say if he were alive today, “you could Google it”.

The most aggressive approach to  bad times is to figure out who your best customers are and market to them relentlessly. Analyze your customers based on transaction data  that’s sitting in sales or accounting databases.  It’s going to tell you things about your best customers you never realized.

But beware.  Best customers are not just the 5% or 10% who generate the most revenue.  In fact, customers who spend the most may already be spending all they can with you.

The wonderful thing about segmentation is that when you look at it carefully you’ll realize that you have at least three kinds of best customers:

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How to measure marketing effectiveness

13 Jan 09 - Mark Klein

“You’ve looked at our data. So how are we doing? How do we compare with your other clients?”

These were questions thrown at me by one of our newer clients, and they weren’t new questions. Marketers are hungry for an outside, impartial opinion of their efforts. It’s a fair question and a challenge we couldn’t resist.
Whether it’s a long time client or a new prospect looking at their free customer report card, it’s clear to them that we know a lot about their marketing efforts and could offer an informed response.
 
We decided to accept the challenge and developed a Marketing Effectiveness Score (MES) based on some closely held beliefs and time-honored marketing principles. There are six components to our Marketing Effectiveness Score:

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