Should I have the same marketing spend across all customers?
Many brands have a “one size fits all” approach to marketing and promotional campaigns. Identifying where to over or underinvest marketing efforts is often where the challenge lies.
What We Do
- We create an integrated view of your customer organized around their transactions and behaviors
- We group customers into small clusters based on their shared marketable traits (looking at behavioral, transactional, and demographic data) – this enables us to tailor the right content to the right group
- We calculate a customer’s value based on their spending patterns as well as their propensity to migrate up or down in value
- We understand your customer’s location and the virtual and physical layout of your store. We also determine how close your competitors are and identify critical battleground areas or experiences
- We partner with you to develop a marketing reinvestment curve that is economically viable for your business, while still being attractive to customers – this will become the basis for critical decisions around marketing spend. It can be deployed at a customer level, at an existing store level, and at a new store level
We Also Provide Answers to these Questions
- What do my different customers look like?
- How do I determine the lifetime value of my various customers?
- How much should I reinvest in my customers?
- What type of media, content, and promotions are the most effective?
- How much money should I spend to drive traffic to an existing physical store?
- How much money should I spend to support a new store opening?