Online Retailers Need to Balance New, Old Customers to Thrive
Online businesses that invest too much in either new or existing customers can suffer. Those that strike a balance thrive.
In the Media
Are old customers more important to online businesses than new ones?
Cloud marketing company Optimove has studied data from millions of online customers and more than 180 brands to help companies understand if their ratio of new-to-existing customers indicates a state of growth, stagnation or decline.
Balancing Your Customer Revenue Mix Can Make You a Rocket – or Leave You Running in Place
There are several typical new:existing customer revenue ratios that companies should be aware of as they grow their business, and these ratios depend highly on the specific company’s growth phase.
‘Starbucks Rewards’ and the Failure of Today’s Loyalty Programs
While commerce is heading full-on to customize wherever possible, loyalty programs everywhere have remained a staple of the old world’s one-size-fits-all paradigm.
How do you define your VIPs?
Customer modeling is the best way to achieve a data-driven, real-time model of your VIPs that stays relevant with the dynamic nature of your business.
From personalization to high-definition emotional intelligence
The central principle of marketing is that knowing a customer better helps you to offer products and services they actually want. Understanding the context of a customer has always been a part of that, but recently the amount of contextual information available to marketers has sky-rocketed.
How to pivot from a consulting service to SaaS [Interview]
Joining me today is a guy who had a great idea for software, but he couldn’t actually build it out. He didn’t have the money. He didn’t have the resources. So, he and his cofounder created a consulting company that basically did what his future software would do.
From Here to Infinity: Personalizing Every Customer Journey
Now for the company that gets it: Optimove. This company may not be the only one that gets it, but it has done the best job I’ve seen of articulating the infinite customer journey concept.
Digital Marketing in 2016: Customers are People Too
Parsing the consumer has to turn into a major strategic goal. Not one to be taken lightly – it’s a challenge on both the technological and the operational levels. But at present, the realignment of commerce around customers rather than around products may be the be-all and end-all of online businesses.