Magazine article CRM Magazine

The Age of Influence

Magazine article CRM Magazine

The Age of Influence

Article excerpt

PROFESSIONALS who regularly make intelligent investments in marketing information are more likely to benefit the most in the long run. But what information relevant and how do you relate to potential customers? With the amount of data marketers are collecting, it's easy to suffer from information overload. For starters, organizations need to make sure their data is accurate, as customer lists get old fast. In the feature story "Cast a Narrow Net," by Editorial Assistant Jessica Tsai, baby and infant products retailer The Right Start learned this lesson firsthand when it attempted to contact 500,000 double opt-in customers. It quickly discovered that the actual number of double opt-ins was nowhere near that. Through some targeted marketing efforts, however, the company significantly increased its list of legitimate double opt-ins.

Once customer lists are updated, it's important to set appropriate metrics. One consultant in the same story maintains that marketers' performances are still measured by "overall reach as opposed to conversion of leads." The consultant adds, "as long as that metric is in place, marketers aren't encouraged to be more effective."

When reaching out to potential customers it also helps to know what most influences them to buy. According to the Insight story "Have You Caught It?" by Jessica Tsai, "consumer interest in a product is most influenced by referrals from friends." This phenomenon also crosses the cultural divide. In The Tipping Point column, "The Year (and Decade) of the Tiger," Woody Driggs, global managing partner responsible for the CRM service line at Accenture, states: "Research shows that friends, coworkers, and product reviews are relied on by nearly two-thirds of Chinese consumers when making purchases. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.