Customer loyalty is as elusive as ever.
Today’s consumers are fickle, and they’re willing to switch brands at the drop of a hat for a better, more personalized experience. In an increasingly competitive retail and e-commerce landscape, brands must pay close attention to who their customers are, how they shop, and what they need to experience in order to develop an unshakeable sense of loyalty for their favorite brands.
Enter: Customer analytics. Drawing on the data that you already have, you can gain a thorough and all-encompassing view of your customers. …
No business is safe from ad fraud.
Although ad fraud detection and prevention technology have made great gains in recent years, ad fraud losses are projected to reach $5.8 billion USD globally by the end of 2019, and some reports predict these losses will rise as high as $44.4 billion USD globally by 2022. Additionally, according to a report released by cybersecurity leader White Ops and the Association of National Advertisers, fraudulent impressions can represent up to 37% of an advertiser’s total impressions.
Think about the amount of money you spend on paid ads in a typical year. …
Retail has always been a dynamic industry, but about a decade ago, its transformation began to accelerate. Between the rapid advancement of marketing and commerce technology and the seismic shifts in consumer needs, desires, and preferences, retail is evolving faster now than at any point in history.
That means that retail businesses also need to evolve faster than they ever have before. If you can’t adapt, you won’t survive.
The evidence to support this shift is overwhelming. For example, Marketo’s recent report suggests that CLV will become marketers’ number one priority by 2025, with customer retention and marketing-sourced revenue dropping…
Katherine Barchetti, a well-known upscale retailer said, “make a customer, not a sale.”
Why? Because a loyal customer provides substantially more value to your company than a one-off sale ever could. Every time a customer comes back to make a repeat purchase, they’re driving up their Customer Lifetime Value (CLV) with no additional acquisition costs.
In that way, you might think of CLV as a partial measure of your customer loyalty. …
The most effective marketing campaigns are the ones tailored to your high-value customers and prospects. To implement these campaigns, you need to understand exactly who your customers are, what they want and which messages will resonate with them.
If that’s the ideal, how do you get there?
Via customer analytics software. These programs draw on the heaps of 1st and 3rd party data available in today’s digital world to analyze your customers’ behavior and offer you valuable insights. You can then leverage those insights to enhance your marketing efforts.
Customer analytics (also known as customer insights or customer intelligence) is…
By now, you’ve probably heard the phrase, “the customer is king.”
While most successful businesses understand who their customers are and how to target similar audiences for acquisition, the fact is that not all customers will provide the same value to your business.
In other words, not all customers can be kings. Some are dukes, barons, and esquires. Some make many high-value purchases over the course of their customer lifecycles, while others make small, one-time purchases and never buy again.
This disparity in customer value is known as the Pareto Principle or the 80:20 Rule.
The art of advertising involves crafting meaningful messages to send to your prospects and customers and connect with them on a human level. The science, on the other hand, is enabled by the abundance of data available to us today.
Data tells you how to serve the right messages to the right audiences at the right times — and although it may be tempting to push your ads out to as many people as possible, sometimes the smartest move you can make as an advertiser is to harness more advanced audience targeting.
As Benjamin Franklin once said, “Remember not only…
Identities now available in Lexer Engage
Talking to strangers is tough.
But most social customer service teams spend their days talking to strangers.
What if there was a way to understand people better?
A way to ensure genuine engagement?
Lexer Engage now offers an enriched realtime profile of the customer or prospect at the other end of the conversation.
We call this profile an Identity, a living, breathing human who we’ve built a profile about from the myriad of data that Lexer have loaded, unified, enriched and secured.
Each Identity contains tonnes of attributes sourced from public, proprietary and partner…
Connecting the digital with the real
Over 14 years ago sci-fi thriller Minority Report depicted the high-tech future of 2054, full of self driving cars, jetpacks and cognitive pre-crime prediction. The reality is these technologies are here now — especially when it comes to advertising.
In the Minority Report world all advertising is personalised. At one point our hero Tom Cruise walks past a series of digital displays which via a quick retina scan serve him personalised ads for Lexus, Amex and Guinness. …
New Age Risk Management
An ASX listed client told us a story. We leant forward as they began with two words.
Every so-often a random twitter account would advertise “free sex” with a specific location and time.
Lexer is all about free love, however that location was frequently a bathroom on one of our client’s properties.
Not the sort of ‘exposure’ they were after.
These planned encounters posed serious risks to our client, including security, safety, reputation and hygiene…
The Lexer support team immediately configured Lexer Listen to monitor every mention of “free sex” (and similar terms…), combined…