In last week’s post I shared some alarming stats on the decline in consumer loyalty today. In a recent research study conducted by ICLP, a global loyalty consultancy, only 3% of consumers felt devoted to their preferred retail brands.
When it comes to their relationship with brands, customers prefer to be polygamous. A recent study published by ICLP, a global loyalty consultancy, studied consumers in Australia and discovered that a whopping majority (97%) would cheat on their favorite retailer. The ICLP study, Deeply Devoted, looked at the psychological similarities between human and brand relationships and found that consumers are in less committed relationships with their favorite brands than ever before, with only 3% feeling devoted to their preferred retail brands.
Whole Foods’ business is in decline, and they want to respond by offering more discounts and lower prices. A better idea is to focus on their best customers to find opportunities for profitable, sustainable growth.
Every marketer has heard of segmentation. We all understand the importance of building personas and targeting our message. But very few are using segmentation to its full potential. In Star Wars, a Jedi master was someone who had the greatest mastery of the Force, someone who understood its power and could use it for good. At Custora, we work with many of the most successful and sophisticated B2C marketers in the industry. Many of these organizations have achieved Yoda-like mastery of segmentation and are seeing extraordinary performance gains across their acquisition, growth, and retention campaigns. And while each business is unique, they each share common traits.
On Wednesday, we hosted part 5 of 5 of our Webinarch Madness series. Two Custora customers, Ben Hemphill (VP of Digital Marketing, Crocs) and Kelly Goldston (VP of Marketing, Eloquii) walk through how they are using advanced customer analytics to drive their businesses.
As part 4 of 5 in our series of Webinarch Madness, we chatted with Bronto about strategies for driving online revenue across the customer lifecycle—from acquisition to cultivation to retention.
Last Tuesday was a snow day for most of us in the Northeast, and I used that time to finally get around to reading a marketing book that was recommended highly to me.
Last October, Custora hosted our first ever summit, bringing together over 100 retail marketing leaders from over 40 brands.
We hosted a great webinar yesterday with our guest Ron Offir, CEO of Offir Consulting. The topic – Driving Omnichannel Growth with a Digital Flagship. Below is a summary of the presentation and an audio file of the Q&A.
As part of our Webinarch Madness series, we hosted a webinar with Professor Eric Schwartz of University of Michigan’s Ross School of Business.