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Complete Customer View takes Single Customer View to new level

Friday, 19 November 2010 14:25

It's a hot topic and retailers in particular are catching on. It’s the process of gathering all customer data into one place so that it is possible to build up a picture of the customer that provides contact details and pattern of purchase. Knowing what people buy, when and where they buy and then having the details to contact them is in essence single customer view. But only MIG helps retailers to deliver the Complete Customer View (CCV).

Complete Customer View is everything that a single customer view is but more. More detailed, more sophisticated, more customers, more media and more capable of delivering sales growth.

Here at MIG we’ve been banging the drum for quite a while and our customers are beginning to see the results. Over the past three months, one significant retailer and the team here at MIG have been working together to build up a picture of their CCV.

The information has enabled the retailer to analyse and corroborate certain trends within the data relating to customer purchase frequency, customer loyalty and multiple location customers online, and in-store, and the findings are already shaping marketing activity with individual customers being targeted based on their pattern of interaction. The tool used to gather the corroborating data is the MIG iSurvey platform which enables anyone with a database of email addresses to conduct a survey and to assess the results in full, real time. Just one example where the retailer is able to put data to work is in the answer to the question; would you recommend us to a friend to which 95.6% said yes; and this from a target sample running into thousands of customers.

What a powerful loyalty message that is!

Evidence led marketing is the most cost-effective marketing a company can embark on but it means having the foresight to adopt a serious data strategy in the first place. Retailers analyse their business real time and can tell you which location is doing what at any given time but that is only half of the equation. Trading data is ‘need to know,’ but what use is knowledge if you cannot do anything with it? Of greater importance is the ability to do something about it if you need to. The ability to communicate real time with specific individuals is available to every business.

Recently Retail Week published an article by a leading retail CEO which stated that the strategy of his company moving forward was to speak with more people. But it’s not about more people, it is about the right people at the right time with the right product proposition. Targeting random audiences is the antithesis of CCV. Our aim here at MIG is to help you communicate with the people who want to communicate with you.

The answer is Complete Customer View and if you would like to find out more details please contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it tel 0800 031 9679.

 

Your database should make you more money than it does

Thursday, 28 October 2010 09:47

Even today with growth in the overall economy as fragile as it is, many companies are sat on dormant or fragmented and seemingly unusable data that is waiting to be organised and activated by someone who knows what they are doing. It's the equivalent of having a sales team sat around doing nothing.

It's not like the old days; data is now like DNA in that you only need a fragment to enable a professional to get the rest. It may be that you only have a delivery address but that is enough to get you much more including names, email addresses and telephone numbers. It is developments like these that many managers don’t know about and as a consequence they make decisions based on out-moded ideas that cost companies lost sales and missed opportunities.

This is an opportunity that Managing Directors everywhere should get hold of. Data management is one of those jobs that is put on the back burner because the people involved don’t really know what to do with it. Here at MIG we have a team of people whose responsibility is to help companies like yours get more from data. It's the equivalent of having a very significant marketing department on hand that you don't employ. We have people working with data all day long; we have other people creating marketing content and we have people out in the field, project managing and helping companies to shape and direct marketing strategy.

It doesn’t matter how big your data file is. We recently emailed a data file that featured only 200 records and on the same day organised another file of 1.3 million records. What matters is what you do with it, and that you are as commercial with your data as you are with everything else in the business.

If you are sitting on data, or have nagging doubts telling you that you are not getting as much out of your data as you should, then now is the time to act. Don't leave it another day, get the people involved together and start the process of making your data a much more active and successful contributor to the bottom line.

Come on, don't waste another day.

For more information please contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

 

10 things that every business should know about its customers

Tuesday, 24 August 2010 16:42

One of the best ways of evolving strategies to attract new customers is to take an in-depth look at the customers you already have. How well do you know your customers? Unless a business knows their customers inside out and is able to put their needs and desires first they will not get very far in attracting new ones.

A. Businesses often ask us to help them get new customers and we often answer, what's wrong with the ones you've already got?

This is a great start point to review what you already have and how you can begin the build of a 'customer journey'.

B. Businesses often tell us they 'love' their customers but rarely do we see evidence that they even want to know who they are.

What steps have you taken to ensure that you know who your customers are and systematically capture data on them including transaction data so that you can engage with them 'intelligently'?

C. When sales are down and struggling, businesses often wonder who the customers who used to buy from them are, or where they came from?

Without that knowledge the only way to get them back is probably to advertise in a general way i.e. spend more money to get them back again, further unnecessary expense.

Have you considered how to 'lock-in' future business and have you recognised how to 're-activate' customers?

Can you answer the following ten questions about your customers?

Pondering the answers may give some very useful insights.

  1. How many customers do you have?- strangely lots of businesses have no idea or have to guess, working to target numbers actually is the most effective step in sales forecasting.
  2. If you exclude those who haven't bought recently say the last 6 months, how many are left?
  3. What percentage of your customers bought only once?
  4. How often and by what means do you communicate with your customers? - don't assume they'll see an advert or read a poster.
  5. Everybody says word of mouth is the best form of customer recruitment, how much have you budgeted this year to support 'word of mouth'?
  6. After 'word of mouth' what is your next most successful form of customer recruitment?
  7. How do you systematically re-activate lapsed customers?
  8. How could you re-engineer your offer so they don't lapse?
  9. How satisfied are your customers, compared to last week, last month, last year?- do you systematically ask and benchmark the results?
  10. How much do your customers spend with your competitors?

For more information on how MIG can help your marketing campaigns, please contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it tel 0800 031 9679.

   

How to ensure that your email newsletter achieves the very best results!

Tuesday, 06 July 2010 13:10

As we have found here at MIG over the last 10 years a well put together, targeted email newsletter is still one of the best ways to give a high return on investment. These findings concur with those of Internet guru Dr Jakob Nielsen, a leading web usability consultant.

Nielsen states "If you don't have a newsletter, then publishing one is probably the single-highest ROI action you can take to improve your Internet presence. If you do have a newsletter, then improving it ... will likely make it several times more valuable to your organisation".

Nielsen says that email newsletters let you maintain a relationship with your customers that lasts beyond their visits to your site: "newsletters keep customers informed and in touch with the company; websites give customers detailed information and let them perform business transactions".

He also identifies another significant benefit of email newsletters: "they are the primary way to liberate your site from dependence on search engines. In the long run, achieving this liberation is one of the most important strategic challenges facing Internet managers".

If your company does not currently send out a newsletter or your existing newsletter needs to work more successfully MIG's 'iNews2' is what you need to look at.

   

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