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Ken Robbins, President Response Mine Interactive Atlanta, GA 4.18.11
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On average, the lifespan of a Fortune 500 company is ~40 years.
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Real Meetings. Actual Decisions.
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Volume vs. Profits Public medical products company $400 cost-per-new-patient. Break even = $600. 30% of customers come in at ~$700 ea.
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10,000 legacy rate plans New plans at least 20% cheaper Don’t ask, don’t tell renewing customers because “we need the profits.” Wireless Disconnect
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“ Gross ” Margin Retailer 30,000 SKUs margins ranging 28% to 70%. revenue based decisions Fan maker #1 $250$75 30% Fan maker #2 $250$120 50%
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Checked Out Hotelier = lowest room rates + 20% fee Digital Marketing = highest room rates 14% cost Decision- Pause digital.
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Form over Substance Goal: Increase form leads b/c “calls are customer service” Audit revealed 60% of calls are new sales at half the cost to acquire. Decision: “more forms please”
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Other Budget Mistake In May, lawn care company’s internet marketing budget ran out. TV, Billboards, direct mail keep running- at higher costs/new customer Internet = lower cost-per-customer.
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50% % of Americans with Smartphones
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5% # of retailers with mCommerce specific sites
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mistakes policies & strategies
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ignore loyal customers ignore better margins advertising that ignores profits & new customers practices that piss off the consumer
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basic strategy
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Efficiently acquire high value customers. Allowables Measure Database CRM Report / analyze Test Recognize Segment Score Lifetime Values Communicate Repeat purchase Reward Proprietary & Confidential. All Rights Reserved. 2011 Response Mine Interactive, LLC
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efficient marketing?
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Some ads produce sales Some don’t
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measure everything
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scale and breadth of awareness
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efficiency of response lower cost per: inquiry sale lead customer
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7.8% 10.2%
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34 PPC tactics leah.peterson@responsemine.com
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high value customer?
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buy more less complaints & discounts refer friends & colleagues buy again
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From Angel Customers & Demon Customers- Larry Seldon
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5 questions
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#1 how many new customers did we acquire last month?
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#2 how do we irritate our customers?
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“simple” IVR Proprietary & Confidential. All Rights Reserved. 2011 Response Mine Interactive, LLC
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“hi. how may I help you?”
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#3 what’s the difference between average customer & best customers?
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#4 what are our conversion rates?
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#5 what do our best customers like to buy from us?
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Efficiently acquire high value customers.
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Acquire More Customers Thank You. @kenrobbins 404.233.0332 ken.robbins@responsemine.com TM
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