It is now widely accepted that keeping an existing customer is much more valuable than acquiring a new customer. Therefore, predicting customer churn and taking preventing actions is paramount in the marketing strategy of any business. The methodology to predict customer churn is different based

I had a business checking account with Chase Bank for about two years. I have been actively banking with them. One fine day a new client sent me a check. They had used bill pay to create the check. Two weeks later, I tried to

Net Promoter Score (NPS) has gained reputation as the best way to gauge and improve on customer loyalty and advocacy. Higher the NPS score, the better the probability that companies grow organically through repeat purchases and referrals. NPS is a simple, a two-question survey put

In the last blog, we discussed the methodology for calculating RFM score for customers. In this blog, we will discuss how to make the RFM framework actionable by segmenting and creating marketing plans. The following discussion is inspired by methodologies put forth by Putler, a

RFM framework was developed decades ago during the direct mail catalog days. Marketers wanted a methodology that did not require too much computation power, but was effective enough in identifying high value customers and in segmenting them for marketing campaigns. The impressive fact is that

In the last two blogs, we discussed the methodology to calculate CLV and to apply it to different segments of your customers.  In this blog, we will close the loop by discussing Customer Acquisition Costs (CAC) and how it should compare to CLV in a

In the last blog, we discussed the methodology to calculate CLV of a B2C company. Many companies do the mistake of creating CLV for all customers (generic CLV) and use it for formulating customer acquisition strategy, including how much money they should spend on new

Customer Lifetime Value (CLV) is an important metric in B2C (Business-to-Consumer) companies because it dictates how much money should be spent in new customer acquisitions.  However, CLV calculations should go beyond estimating the value of a generic customer. By combining actionable segmentation plan with CLV,

In the previous blog, we discussed various aspects of multi-touch attribution and how it is more relevant for heavily online businesses. In this blog, we will consider a different methodology applicable to companies that employs both online and offline marketing channels – Marketing Mix Modeling

Today, more than ever, marketers can estimate ROI and use it for budget allocation.  However, budget allocation is still a complex process because many marketing channels are not easily trackable. The following two methodologies allow marketers to connect the dots between trackable channels like pay-per-click

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