Conversion Marketing forum

We are increasingly talking about the ‘social customer’. What was once a customer is now a social customer. Just as Customer Relationship Management or CRM is now Social CRM. The reasons are obvious. Read more »

Do you know the value of the customer life cycle? Do you calculate Return On Marketing Investment? More and more businesses are doing it but there are challenges and different approaches.

Nevertheless, to be able to work in a data-driven and customer-centric manner, it is an important exercise.

The value of the customer life cycle, also called CLV, looks at the investments we plan to make for the customers (retention, sales, promotion, customer service, etc) and the return we expect from the customers. CLV has everything to do with the present and the future. It is the present value (expressed in your local currency) of the expected future cash flows from the customer.

The problem with calculating the CLV this way is that it happens from a global perspective (customer base), and it is difficult to use to calculate the value of the customer life cycle on micro levels like a marketing plan. Read more »

Word-of-mouth is one of the most important phenomena on which companies focus their social media marketing activities. They try to tell the right stories, combine the proper social networks to get them told (or shared if you prefer), and of course identify the so-called ‘influencers’.

It’s a mistake to think that the identification of people who have ‘influence’ is exclusive to social media marketing. Word-of-mouth, referral marketing, and involving influencers in the marketing strategy are tactics that have been existing longer than the Internet itself.

What has changed, however, is the amount of digital and social media channels and tools, that people can use to inform themselves, often based on the advice of peers and influencers. It’s obvious that with the rise of social media, the focus on influencer marketing has skyrocketed. Read more »