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Business Analytics for Sales and Marketing Managers: How to Compete in the Information Age by Gert H.N. Laursen

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IDENTIFYING CUSTOMERS FOR MULTIPLE CAMPAIGNING

If you used the decision tree in the beginning of this chapter (Exhibit 6.1), you were directed to this section because you indicated that you want to start using data mining as input on how you will create your campaigns in the future. This is a relevant approach if you want to improve already existing retention activities in your marketing department, because new data or analytical competencies have become available, or because of a shift in your company toward a retention strategy. There can be many motives for doing multiple campaigning; what is common to them all is their purpose: to improve the way your company does campaigning, which probably also means that you are in the marketing or sales department.

In my experience, the multiple campaigning approach is the single most effective method of all those mentioned in this chapter. It can factually identify what your company should improve and remove all the myths and anecdotes based on case studies and subjective interpretations that otherwise flourish in organizations not used to making decisions based on facts. It can make the customer analytics function a clear voice in your organization since you will become the oracle who can tell on a monthly basis how your company can improve, where the market collapses, and where competition gains market shares from you. Particularly large organizations and market leaders often appear like whales in the water, constantly attacked by smaller ...

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