In general, I have found that it is at least five times cheaper to retain a customer than acquire a new one. But often that multiple is higher. I know this because I maintain detailed customer transaction records and track my marketing campaign activities, costs and conversions. As a result, I work hard on my [...]
Background on my ecommerce sales funnel Ecommerce sales funnels are designed to guide a consumer through the purchase process and present them with value-added offers that compliment their existing purchase before they checkout. I architected and had developers build my ecommerce sales funnel. Rather than use an existing solution, I went this route because [...]
This is a Quora question I was asked to answer. Absolutely yes, but I need to qualify my answer with more details to back that up. First, my focus is building consumer product startups, not managing large brands. So, I really have no clue if brand advertising is relevant or not because I have almost [...]
I am a big believer in retention marketing because it works. Retention marketing is marketing you do to customers you have acquired through past purchases. It is also far cheaper to retain customers than to acquire new ones - like 5 to 25 times cheaper, depending upon your industry. My personal experience is that it [...]
This is a Quora question I was asked and here is my answer. That will depend on additional data. Do a search for a sample size calculator and you will probably see a lot of options where you can plug in your assumptions to give you the minimum sample size needed. Optimizely has a quick and easy [...]
It's the classic chicken or the egg...which came first. We need product reviews to sell, but how do we get them if we have not sold? Unfortunately, product reviews have been completely distorted in the marketplace from their original intent: The review has nothing to do with using it to improve products or offerings, which is [...]
Autoresponders are traditionally thought of in terms of email; you get a subscriber to your list and a series of emails goes out to them. Or, a customer buys a product so they get a series of emails, either general emails because you also put them on your list, or specific emails related to their [...]
I'm not a political junkie, but a marketing junkie, and political campaigns are really just marketing campaigns. The last two major U.S. presidential elections have been driven by database marketing, and since that is what I primarily do, I really try to follow what campaigns are doing because they are the ones always pushing the [...]
I reviewed this year's report and extracted pieces of data important to consumer product brands selling to consumers direct or through resellers. Here they are. Global internet users = 3.4 bil at 10% per year growth. The market to sell online continues to grow, especially in developing and frontier markets, so digital products can [...]
