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Ken Robbins, President Response Mine Interactive Atlanta, GA
On average, the lifespan of a Fortune 500 company is ~40 years.
Real Meetings. Actual Decisions.
Volume vs. Profits Public medical products company $400 cost-per-new-patient. Break even = $ % of customers come in at ~$700 ea.
10,000 legacy rate plans New plans at least 20% cheaper Don’t ask, don’t tell renewing customers because “we need the profits.” Wireless Disconnect
“ Gross ” Margin Retailer 30,000 SKUs margins ranging 28% to 70%. revenue based decisions Fan maker #1 $250$75 30% Fan maker #2 $250$120 50%
Checked Out Hotelier = lowest room rates + 20% fee Digital Marketing = highest room rates 14% cost Decision- Pause digital.
Form over Substance Goal: Increase form leads b/c “calls are customer service” Audit revealed 60% of calls are new sales at half the cost to acquire. Decision: “more forms please”
Other Budget Mistake In May, lawn care company’s internet marketing budget ran out. TV, Billboards, direct mail keep running- at higher costs/new customer Internet = lower cost-per-customer.
50% % of Americans with Smartphones
5% # of retailers with mCommerce specific sites
mistakes policies & strategies
ignore loyal customers ignore better margins advertising that ignores profits & new customers practices that piss off the consumer
Efficiently acquire high value customers. Allowables Measure Database CRM Report / analyze Test Recognize Segment Score Lifetime Values Communicate Repeat purchase Reward Proprietary & Confidential. All Rights Reserved Response Mine Interactive, LLC
Some ads produce sales Some don’t
scale and breadth of awareness
efficiency of response lower cost per: inquiry sale lead customer
34 PPC tactics
high value customer?
buy more less complaints & discounts refer friends & colleagues buy again
From Angel Customers & Demon Customers- Larry Seldon
#1 how many new customers did we acquire last month?
#2 how do we irritate our customers?
“simple” IVR Proprietary & Confidential. All Rights Reserved Response Mine Interactive, LLC
“hi. how may I help you?”
#3 what’s the difference between average customer & best customers?
#4 what are our conversion rates?
#5 what do our best customers like to buy from us?
Efficiently acquire high value customers.
Acquire More Customers Thank TM
Ken Robbins, President Response Mine
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