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Right-Channeling Isn't Rocket Science…But You've Got To Do It Right

In a recent 1:1 magazine article, experts debated whether or not firms should try to change their customers’ channel behavior. One was quoted as saying: “If you asked me two years ago if we should push customers to specific channels I would have answered yes….but I see some emergent behavior in the online world that […]

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Loyalty Programs' Impact On Online Sales — Part 2

John Dawson commented on the last post, wondering if the greater online sales activity on the part of loyalty program members was due more to their underlying demographics than to their program membership. While more affluent consumers are more active online, even within income bands, loyalty members are more likely to have shopped online this […]

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Loyalty Program's Effect On Online Sales Isn't Driven By Income

John Dawson commented on the last post, wondering if the greater online sales activity on the part of loyalty program members was due more to their underlying demographics than to their program membership. While more affluent consumers are more active online, even within income bands, loyalty members are more likely to have shopped online this […]

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Loyalty Programs: Another Key To Retailers' Online Success

According to Larry Freed, CEO of ForeSee Results, there were three drivers of retailers’ online success this past holiday season: 1) free shipping; 2) product reviews; and 3) promotional emails. He missed one: Rewards programs. According to research that Epsilon has done on the influences of consumers’ holiday season purchases, consumers that are members of […]

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A Major Marketing Opportunity For Financial Firms Is Brewing

While putting together a campaign for our data services business, one of my colleagues uncovered some facts that spell major opportunity for banks and other financial institutions. The IRS reported that the average tax refund so far this year is nearly $2,500 — up 14% from than the refunds received in 2005. According to the […]

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I'm Truly Sorry For My Lousy Blogging, I Know I've Let You Down

I can’t remember exactly where I read it, but someone recently said that JetBlue’s handling of the Valentine’s Day crisis (i.e., Neeleman’s apology) will go down in marketing history as a case example of how to respond in a customer service crisis. And now, Marketing Daily reports that Home Depot’s new CEO gave “an unusually […]

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The Importance Of Cross-Channel Customer Experience Design

Alain Jourdier, at Marketing Bytes Man, tells of his bad experience opening a bank account online. To make his not-so-long story even shorter, (and omitting the name of the offending bank, since that’s not important here), Alain says: I recently opened an account online….and then the next day went to [the] branch and deposited cash […]

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Integrated Marketing: A Different Perspective

I lamented a while back that the advertising folks had hijacked the term customer engagement. Unfortunately, that’s not the only one they’ve usurped. In many circles, “integrated marketing” has come to mean consistent messaging across advertising channels. While that might be one example of integrated marketing, it’s not the only one, and may not even […]

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Required Reading For Credit Union Execs

James Gardner’s post on his BankerVision site — Riding The Anti-Bank Wave: Web 2.0 — should be required reading for all credit union execs. As you read it, however, when you see the words “Web 2.0” or “web financial services company”, substitute “credit union”. James asserts that the underlying premise of a number of Web […]

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WOW: Way Over wRated

I recently wrote that I’d rather know what my customers expected from me than know if they’d refer me to friends and family. Denise Wymore commented: Loyalty economics is not the study of “satisfying” my needs. That’s been the problem with banking. Our goal has been to satisfy. We’re running an errand. What are my […]

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Rome Wasn't Built — Or Tore Down — In A Day: Why JetBlue Will Do Just Fine

Steve Johnson at productmarketing.com (a great site) recently wrote: JetBlue may never recover from the PR nightmare that they’ve created. Seth’s suggestion (to give each person affected 50 free round trip tickets) may be the only chance for JetBlue… and for the entire industry.” May never recover? Nonsense. JetBlue has done a great job of […]

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One Small Step For The Credit Card Industry

Mintel Comperemedia reported that more than 9.2 billion credit card-related direct mail pieces were sent to US consumers in 2006. So let’s see here…if each piece was, on average, one and a half inches high…and we stacked them all up, they’d reach 217,803 miles into the air… Or 91% of the way to the moon. […]

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You Should Only Hope For Frequent Contact With Your Customers

As part of a special section on “Building A Better Customer Experience,” American Banker re-published an article (pw req’d) yesterday that reported the extent to which consumers viewed financial firms as acting in the customer’s best interest (in contrast to acting in the interests of its own bottom line). A quote from the managing director […]

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Tips From A Client To A Copywriter

I came across this post called Ten Tips From A Copywriter To A Client and just had to respond. I’ll reprint the blogger’s (copywriter’s) tips in italics [with some editing for the sake of space] followed by my (the client’s) comment/reply. 1. Please read a book and watch a good movie from time to time. […]

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The Stories Loyal Customers Tell

In the course of doing consumer research,  I’ve heard the following stories from loyal financial services customers: #1: A man in his late-50s, when asked by his bank in a focus group interview why he was a loyal customer, hemmed and hawed for a few moments before saying “it’s because of Jenny, the branch manager where […]

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Starbucks' Memo To Turner Broadcasting: Here's How To Generate PR

Howard Schultz’ memo to the Starbucks’ leadership group, published in the Wall Street Journal, and now covered all over the blogosphere, is a textbook lesson in how to generate PR and awareness that supports the brand. Interestingly (to me at least) was that, although a Starbucks spokeswoman confirmed the authenticity of the memo, nowhere in […]

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Are You Satisfied? Are You Satisfied?

It’s funny how the mind can come to associate things. For example, whenever I think about customer satisfaction suveys, I can’t help but think about a particular scene from the 1976 movie Marathon Man. In this particular scene, Laurence Olivier, who plays an evil dentist, is torturing Dustin Hoffman by drilling his teeth. Hoffman’s brother […]

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Does Your Left Hand Know What Your Right Hand Is Doing?

In the past couple of weeks, I’ve taken on a new role here at Epsilon, in marketing (stop laughing). A press release announcing the change went out, and, not surprisingly, I received calls from a few financial institutions who thought this new position might be bringing me new riches and fortunes that I would need […]

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The Future Of Customer Experience Management

Christopher Meyer and Andre Schwager’s February 2007 Harvard Business Review article “Understanding Customer Experience” brings, perhaps for the first time, the topic of customer experience management (CEM) to the senior management plane. While, overall, the article is quite good, one thing stuck out like a sore thumb — the authors’ definition of the term: [CEM] […]

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And The Oscar Goes To… Marketing?

In a recent post on his blog entitled “Marketing Organization Overhaul”, Bob Liodice, CEO of the ANA, cites research that the ANA did in conjunction with Booz Allen Hamilton, which defined the various roles that marketing can play. Bob writes: Once a CMO identifies the precise role the marketing function should fulfill, he or she […]

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