Follow That Customer!

by Van Bel, Egbert Jan; Sander, Ed; Weber, Alan

• ISBN13: 9781933199269
• ISBN10: 1933199261
• Format: Hardcover
• Copyright: 2011-02-15
• Publisher: Racom Communications

Summary

For as long as there has been commerce, sellers have tried to predict what people, and their customers in particular, wanted to buy. In the nineteenth century there were direct mailers, followed by the database and CRM revolutions. This book is about the next revolution. Event-driven marketing (EDM) adds the important dimension of the right time. Marketers now have the ability to make the right offer to the right customer at the right time-at exactly the moment that customer develops a need for your product or service. The result is the same as each of the preceding revolutions: increased response and conversion rates and improved profitability of marketing investments. Follow That Customer! is the first complete handbook of EDM. It covers everything from theory to process management to profitability calculations, database analyses, and legislation. It also has seven real-world cases that bring EDM concepts to life.

Table of Contents

Acknowledgments	p. ix
Preface	p. xiii
Introduction	p. xv
A New Day Marketing	p. 1
The Roots of Event-Driven Marketing	p. 2
EDM and Direct Marketing: Important Distinctions	p. 4
EDM Prospecting	p. 7
Other EDM-related Concepts	p. 8
Segmentation: Old and New	p. 10
Taking the Event-Driven Approach	p. 10
Birthday Clubs	p. 14
Customer-Related Terminology and Marketing Myopia	p. 22
Market Segmentation: From Old Economy to New?	p. 24
Put Down That Scatter Gun	p. 25
Viewing from the Customer's Point of View	p. 26
"Stuff" and Self-image	p. 28
Sales Funnel	p. 30
Regulars, Buyers, and Tryers	p. 33
The EDM Quadrant	p. 34
From Internal Planning to Customer-Oriented Supply	p. 34
Event-Driven Marketing: Choosing the Right Moment	p. 35
Key Roles in the Marketing Process	p. 39
The EDM Quadrant	p. 40
Time versus Predictability	p. 43
EDM in Mobile Telephony	p. 44
Events in Mobile Telephony	p. 45
Process Management and the Implementation of Event-Driven Marketing	p. 47
The Customer Comes First	p. 47
Marketing and IT Merge	p. 49
The FBC Formula: Faster, Better, Cheaper	p. 50
Keep IT Simple...	p. 54
The Customer: In the Driver's Seat	p. 55
Campaign Management and the Event-Driven Marketing Cycle	p. 56
EDM Execution	p. 62
The Impact of EDM Execution	p. 63
Folksam's Moving Birds	p. 66
Product-Phase Event-Driven Contact Strategies	p. 73
Loyalty Versus Retention	p. 83
The Goal of Marketing	p. 83
The Focus of Marketing	p. 83
Loyal People Don't Exist, So Neither Do Loyal Customers	p. 84
Loyalty and Switching Costs	p. 86
What Is Churn, and What Is Its Significance?	p. 87
Loyalty Versus Retention	p. 88
Don't Give the Customer a Reason to Leave	p. 90
Loyalty and Branding	p. 91
Organizing a Customer Retention Strategy	p. 92
Survival of the Fittest	p. 92
Customer Value and Profitability	p. 93
The Elements of Customer Value: Acquisition, Development, and Retention	p. 95
Five Methods for Calculating Profitability	p. 98
Technical Terms	p. 100
Understanding Break-Even	p. 101
Understanding Profitability by Campaign	p. 102
Understanding Profitability of Multistep Campaigns	p. 106
Understanding Lifetime Value	p. 109
Discussion	p. 112
Understanding Payback Period	p. 115
EDM in Fast-Moving Consumer Goods and Baby Care	p. 119
Event-Driven Marketing for Premium Pet Food	p. 134
CRM, Databases, and Marketing Information	p. 144
Data Warehouses	p. 146
Logic, Matching, and Understanding	p. 146
Harmonizing Supply and Demand	p. 147
Information Versus Data	p. 149
Useless Information	p. 150
Database Marketing and Data Mining	p. 151
Analyzing Data	p. 152
Analysis: From Theory to Practice	p. 153
Database Analysis Techniques	p. 154
Formulating Analytical Objectives	p. 157
Developing an Event-Driven Marketing Program	p. 160
EDM and Legislation in the European Union	p. 172
Introduction: Local Regulations	p. 172
Universal Principles: Transparency and Confidence	p. 173
European Directive Unification	p. 174
EDM and Awareness	p. 175
Legal Information Requirements under the Data Protection Directive	p. 176
Absolute Right to Object	p. 177
Transborder Flow of Personal Data within the European Union	p. 178
Establishment of the Controller Transfer of Personal Data to Countries Outside the European Union	p. 180
Legal Information Requirements under the E-communications & Privacy Directive	p. 181
Use of Electronic Messages for Commercial Communication	p. 181
Channel Management: A Legal Necessity	p. 182
Channel Management Matrix	p. 183
Legal Information Requirements under the Distance Selling Directive	p. 186
EDM-related Directive: the Unfair Commercial Practices Directive	p. 188
Development: Event-Forbidden Marketing	p. 189
Transborder Event-Driven Marketing: Good Taste and Decency	p. 190
Conclusion	p. 190
Forthcoming Event: Revisions and Discussions	p. 191
The History of Legislation for Direct Marketing	p. 193
EDM and Legislation in the United States	p. 194
Introduction	p. 194
US and European Law Briefly Compared	p. 195
Industry and Media-Specific Legislation	p. 197
Consumer Credit Information	p. 197
Information Notices by Financial Institutions	p. 197
Protected Health Information	p. 198
Media Channels	p. 199
Telephone, Mobile, SMS, Fax	p. 199
Email	p. 200
Direct Mail	p. 201
Enforcement and Conclusion	p. 202
Tips and Checklists	p. 203
ROI Case Studies	p. 209
Lists of Exhibits	p. 215
Index	p. 218
About the Authors	p. 227
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