Understanding Lifetime Customer Value is a key factor in evaluating the health of a business. In this post, I look at how to calculate and increase LCV.
Building partnerships with other companies is an effective way to increase marketing ROI, so here I explore different types of partnerships, how to increase their potential and measure them.
I learned today of a new marketing program targeted to retailers called CREDITZ (using “Z” in your name seems to be the “new black” these days). They claim their program increases marketing ROI because it is a trackable method to “increase sales, enhance brand loyalty, acquire new customers and strengthen customer relationships.” In a nutshell, they are trying to entice consumers to change their shopping habits so that they use a CREDITZ card, instead of a debit/credit card, with registered online and brick-and-morter merchants who have signed up for the rewards program. The consumer gets points for the amount of money spent on their purchases, which translates into CREDITZ-back that can be then spent on those same merchants.
Channel development is being increasingly scrutinized to evaluate its marketing ROI. As in other marketing departments, automation is being put into place and more emphasis is being placed on research and analytics. According to Newsfactor, “Trade spending [in Consumer Packaged Goods] ranks second only to the cost of goods on the balance sheet.”
So what is channel development? Read more…
