General Motors recently announced that they figured out how to track social media ROI. Given that much of what people claim is social media ROI is REALLY brand awareness, loyalty and positioning, among other soft ROI indicators, is there something that GM knows that we don’t?
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.
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.
I read a white paper recently geared to online marketers from the company FetchBack, a retargeting company. In a nutshell, they state that online marketers often track the metric “conversions,” which can be different for each marketer depending on their business, for their website and from specific campaigns. What people often fail to take into consideration, however, is what percentage of conversions are from people who absorb information and then come back later to purchase.
Two separate articles today point to the same conclusion – that email marketing provides the best opportunity to evaluate marketing ROI. Is this coincidence or is the Direct Marketing Association conspiring to convince marketers of this? Hmmm. Let’s take a closer look. Read more…