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The Quest for Customer Profitability
By: Phil Jarymiszyn, PNT Marketing Services
Many businesses measure profitability by product (or geography) but not by customer. But customers are the fundamental unit of profitability for most successful businesses. In this paper Phil Jarymiszyn, Managing Partner and co-founder of PNT Marketing Services, a leading customer intelligence database marketing services firm, takes a look at how to conduct a Customer Profitability Analysis in an easy to read question and answer format.
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Why Customers Leave and How to Keep Them: Customer Retention in Retail Banking
By: Phil Jarymiszyn and Adam Isler, PNT Marketing Services
Measuring customer retention in banks is more difficult than it might at first appear. It requires an evaluation not just of individual account retention but of the full customer relationship. Furthermore, a variety of data issues can distort the picture, significantly overstating the problem. Banks need to develop accurate customer retention and attrition measurements. Having done so, they need to be able to predict future attrition risks and put programs in place to alleviate them. Often overlooked, a reduction in the balances of retained customers is an important cause of customer “diminishment” and reduced profitability.
Understanding the sources of customer attrition is equally important in crafting effective counter measures. While customer service improvements and loyalty programs can work, the largest segment of lost customers is comprised of customers whose financial services needs have changed without the bank having anticipated or even noticed it. Effective customer retention programs include both metrics and tactics, or programmatic, components that work together to measure, target and act on potential customer attrition.
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Marketing Coach - Crisis Communicating
By Ivy Cohen, Ivy Cohen Corporate Communications
When targeting products and information at parents - related in any way to how they see their lives as parents - one must factor in marketing strategies that connect them to referrals from friends, colleagues, and experts they don't know but who communicate with them through their daily routine.
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Brand Credibility
By Ivy Cohen, Ivy Cohen Corporate Communications
Both the CEO and corporation's credibility is earned based on action and reputation. The popular and aspirational company positionings discussed below are advanced or undermined by business practices implemented at organizations of every size. Marketing and communications permeates operations and policies beyond seasonal campaigns and catchy slogans. Therefore, it is helpful to engage marketing professionals to conceptualize how policies and practices build the company brand. Likewise, there is great benefit to enlisting their feedback on practices that detract from the brand.
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Execs & PR
By Ivy Cohen, Ivy Cohen Corporate Communications
Public relations professionals can serve eeffectively in the roles of coach, advisor, and staff support. PR Staff can drive strategies and messages, respond to inquiries, and educate the media and all audiences who have contact with the story. They are an important professional partner to have prepare, screen, redirect, and/or respond to competitive issues that shouldn't be attributed to “c” level execs. However, as a company's position and reputation are built and the marketplace evolves, there are times when the stature or expertise of an officer cannot be replaced with another.
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Partner Up
By Ivy Cohen, Ivy Cohen Corporate Communications
Partner marketing leverages the reputations and marketing resources of two or more brands for their mutual benefit. For many brands, both big and small, partner marketing creates new channels to promote products, provides access to another's customers, and presents a new way to direct marketing resources at a qualified audience that a partner has identified at its expense.
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