Marketing luxury products requires connecting with consumers’ often emotion-driven desires, aspirations, and/or fantasies. However, many consumers cannot put aside their ‘rational’ mindset, and as a result feel guilty when purchasing purely hedonistic products. How can luxury companies appeal to the pleasure-seeker in their consumers while reducing the guilt from such pleasure-seeking? The answer, according to […]
Author: Netzer, Oded
How CRM Reaches Customers’ Social Networks
The results of the study showed a 35% increase in usage by the targeted customers and a 10% increase in usage by the connections of the targeted customers. In addition, suspensions decreased for both target customers and their connections, and churn decreased for the connections (the study did not include the targets’ pre-paid churn, because the six-month process […]
Tracking Customers Who Leave Without Saying Goodbye
Customers can stop interacting with a company in one of two ways: they inform the company that they are leaving (such as when they cancel a subscription to a magazine) or they simply stop interacting with the company. Unsatisfied patrons of a theatre, for example, may decide to seek their entertainment elsewhere. The company has […]
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