As I was reading it, I started to think about applying LTV to the methodology. When you think about making decisions based on LTV, the story becomes even more clear. All will be revealed (with a graph!) after the break.
What’s the value placed on a social media marketing campaign by the marketers that develop the campaign? It’s hard to tell, because one typically can’t get access to the key metrics associated with the campaign, particularly sales attributed to the effort and ROI.
I was intrigued by a new social push by Sony Ericsson for the Z750a flip phone, created by their agency, Iris. The campaign is titled “Bringing Purple Back.”
Well, neither Sony Ericsson nor Iris would give me any objectives for the campaign. Neither was any information or speculation found on unofficial Sony Ericsson blog sites about the campaign.
Being an inquisitive guy, I decided to use the crude but effective research technique of following the money to learn more.
If you’ve gone through the hard work of developing physical products for customers, why not take advantage of the low-cost and free Web 2.0 tools available to help increase adoption of your product and reduce your sales cycle?
A perfect case in point is Octane Fitness and their line of elliptical trainers.
We were in the market for an elliptical trainer for about 6 months, when we finally pulled the trigger in early April on an Octane Q37ce trainer. Since then, we’ve been extremely happy with the investment. I’ve found that a six-day-a-week workout routine is easy to maintain and have seen marked improvements in my level of cardiovascular fitness.
So why did it take 6 months to purchase a product that I; a) really wanted; b) really needed; and c) is a terrific product that fits my needs exactly?
After reflecting for a month and doing some additional research, it’s clear that Octane could have cut the sales cycle down to under a month. Here’s how. Continue reading →
This is one of the first questions I ask all my clients. The answer usually comes back including some aspect of “buy low, sell high” and other margin-related facts. Regardless of the complexity or depth of the answer, one word is always included.
The magic word is “people.”
So why isn’t all marketing done on customer lifetime value (LTV)? What are the five things you need to consider when developing LTV-based models that allow you to build CPA (cost per acquisition) based marketing plans?