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The%20First%20Thing%20to%20Do%20With%20Your%20Data

The%20First%20Thing%20to%20Do%20With%20Your%20Data -...

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The First Thing to Do With Your Data By Brain Teasley March 22, 2005 Clickz.com
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4/47/05 2 Understanding the Customer How Much Do They Spend? What qualifies a customer as 'high value'? Is it someone who purchases $100 a year? $100 a month? $100 ever? What Do They Look Like? Conduct a profile analysis to determine what those customers look like. What are their demographics? What Do They Do? Do they use your Web site? Do they use it disproportionally? How did they find your site or business? What Do They Purchase? Know what your best customers buy. Use this information to focus your site and business offerings on those products. How Do They Differ From Other Customers? What are the differences in look, behavior, and purchases?
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4/47/05 3 Identify Your Worst Customer What are their characteristics? Where do they come from? How do they differ from your other
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Unformatted text preview: customers? Do any customers actually cost you money? Many financial institutions have done a good job of identifying customers that cost them money and have taken steps to diminish the number or convert them into profitable ones. 4/47/05 4 Beneficial Basics Search your customer files to see which customers look like your best customers but don't purchase at their levels. Conduct marketing campaigns targeted to these people with the goal of increasing their spending levels. Use the non-purchase information to conduct a customer acquisition campaign. Target prospects with the same demographic makeup as your best customers. The campaign will yield a list of prospects much more likely to be high-value customers, resulting in a higher campaign return on investment (ROI)....
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