As the economic downturn continues, 2009 will lead to a more companies focussing on how they recruit and retain their customers.
The 2008 Christmas retail figures highlight the increased dependence consumers place upon the internet and it’s importance in any companies marketing communication mix. Whilst the internet and the digital space have provided companies with a wealth of data and enhanced capability to communicate directly with their prospective market has this capability been reflected in the experience of consumers ?
For example email marketing has evolved over the past few years and whilst companies have adopted it have they really embraced and using it effectively
The Direct Marketing Association (DMA) National Benchmarking report 2007 proposed the value of £9.11 for each (permission) email address – http://econsultancy.com/blog/2148-9-11-the-value-of-an-email-address
In 2008 monitoring the promotional emails from 24 UK businesses across a range of companies recieved in 2008 has highlighted a range of email practice. Some companies adopting an ad-hoc send now and then whatever the outcome, with others believing the shout load and often to ensure submission approach
Despite not opening 105 emails from them over 2008 one company is optimistic if they believe the 106th is going to be the clincher ! Is this a case of “never mind the quality Feel the width” and begs the question has relevance actually evolved beyond just a buzz phrase.
At number 5 in recent Revolution article http://www.brandrepublic.com/Revolution/News/872526/12-things-need-know-2009/ the value of £20 per email was put forward – 2009 being the year of Retention!
On the basis of an email list of 25,000, are organisations really managing this £1/2 million Asset effectively ?
Without recognising, valueing and treating their data as an asset rather than a list companies will continue to spray and pray. The companies who Recognise, Understand and most importantly develop their email equity are the ones who will suceed in the Customer Crunch.
Sometimes holding a mirror up to your organsation helps to identify where you are on the spectrum and most importantly what you can do about it. http://www.6sm.co.uk/why_companies_use_us