WEC: Analytics Made Simple - Customer Acquisition & Retention

Do you ever wonder why some customers purchase once or twice and then disappear?

Your service is excellent, the product is top notch, and your promotional offers are generous. Even so, every marketing attempt to motivate these customers fails to generate a response.

The good news is that it isn’t your fault. Hit-&-run customers are tagging you. They come to your company looking for a specific item. After they make their purchase, they don’t have any reason to buy from you again. They are not part of your target market. They don’t fit any of your profiles. They ignore your marketing genius. And, they cost you a lot of money.

I must confess that I am a hit-&-run customer. (I’m betting that you are one, too.)

It wasn’t intentional, but I am still guilty. Two years ago, my son decided that he wanted to learn to play the violin. He asked for one for his birthday. I searched the Internet for the right size at the right price. When I found the best deal, I placed my order. It turns out that playing the violin isn’t as much fun as baseball, so we moved in a different direction. Now, two years later, I am still receiving catalogs for musical instruments. I seriously doubt that I will ever order from them again. Every penny they spend marketing to me is a penny wasted. But, how would they know?

If they are using RFM (Recency, Frequency, and Monetary Value) analysis, they may have a clue now. I am definitely out of the recency and frequency range. The problem is that it takes months to identify hit-&-run customers with traditional analytics. So, month after month, marketing dollars are spent on customers who won’t order again.

The number of hit-and-run customers is on the increase. Our commerce dynamics have changed. The marketing team at your company used to choose your customers. They identified your best buyers, then used demographics and other tools to target similar folks. It worked well, so it became the standard operating procedure.

Now, customers choose the companies. When they have a need, or want, they search the Internet for the item and place their order. Most of these buyers are not part of your target market. They are looking to fulfill a unique need. Once their purchase is complete, they probably won’t buy from you again.

The cloak of power has changed and you have to adapt…or fail. If you use the same marketing techniques for hit-and-run customers as you use for your target market, you are simply throwing money away.

It depends on the number of hit-and-run customers in your house file and your marketing plan. For example, if you acquire 10,000 hit-and-run customers this year and mail them 12 catalogs at $0.75 each, you lost $90,000. While it is unrealistic to think that you can flag them with their first order, the sooner you identify them as hit-and-run buyers, the less you lose.

The first step in identifying hit-and-run customers is to evaluate your customer acquisition and retention. How many customers purchased one time or two? How many people have reached the buyer status of three or more orders? What is your acquisition cost? How about your retention costs? What data do you need to acquire this information? Do you know where to start?

If you are starting to get a headache just thinking about it, let us show you the way.

Analytics Made Simple: How to Measure, Rate, & Improve Customer Acquisition & Retention is a step-by-step guide. It provides detailed information on how to calculate your acquisition, retention, and associated costs. It includes an Excel workbook already configured for your convenience. You provide the data, it transforms it into information you can use for growth and profitability.

The guide is segmented into three missions. When you have completed them, you will know:

How long would it take you to figure out how to calculate this information and create the workbook? Double the time you estimated and you may be close. We make the analytics simple by detailing the steps and reasons. Even so, it isn’t easy. It takes time and effort to capture the data. But, the improvements in growth and profitability certainly make it worthwhile!

Reason 1: Successful management begins with measurement. Measuring your customer acquisition, retention, and costs moves you down the path towards improved growth and profitability.

Reason 2: Today’s economical climate demands prudent cost management. Refining your marketing strategies by identifying hit-and-run customers allows you to reduce costs without reducing revenue.

Reason 3: More money in your bank account. Your cost for this guide is minimal compared to your return on investment when you start marketing smarter.

Reason 4: The sooner you start, the faster you see results. Every day you wait costs you more money.

Reason 5: 100% Money Back Guarantee! If you don't find ways to make or save more money than you paid, we'll refund it in full. There's absolutely no risk.

If you want a little extra guidance, purchase the guide plus review. When you have completed your workbook, we will review your information and provide written analysis and recommendations. Let our expertise help you become a marketing superstar!

If you want to pay electronically by check or credit card, just click on the “Buy Now” button for your session of choice. If you prefer to mail a check, please email admin@wilsonellisconsulting.com. Include your name, company name, address, telephone number, and the session information. We will send you an invoice.

Analytics Made Simple:

Customer Acquisition & Retention

Guide & Workbook

Guide, Workbook, & Review

How to Measure, Rate, & Improve Customer Acquisition & Retention Guide

Excel Workbook for Calculating Acquisition & Retention Rates

Customer Acquisition Rates

Customer Retention Rates

Acquisition Costs

Retention Costs

Average Sales Dollars by Customer Type

Risk Management: Balancing Acquisition, Retention, & Costs

Expert, Independent Review of Analysis

Guide & Workbook

Guide, Workbook, & Review

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