Monthly Archives: April 2008

CRM, BBQ style

BBQ ribsI’m not normally one to carry on about my experiences with fast casual dining establishments, even though we frequent them as a by-product of having two children who are connoisseurs of the category. The food quality can be variable, as can the staff attention to the customers.

But that’s all changed after Saturday’s experience at Famous Dave’s restaurant, where I had a terrific customer experience which doubled as a strong CRM effort on the part of the chain.

My wife and I had the luxury of a few minutes without the kids and, while driving by the restaurant, decided we should stop for lunch. We’d never been to the restaurant, although we’ve driven past the place every weekend for the past several years.

On entry, we were greeted by a smiling young man who welcomed us and held the door. His co-worker, equally welcoming, promptly seated us and informed us that our server would be with us shortly.

The CRM magic started when Chris came by our booth.

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Is LTV the first step in my marketing plan?

istock-spreadsheet-compressed.jpgHow do you make money?

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?

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