Let me start this post by saying that I have had good experiences with Qualtrics. I have used their survey panel services before, and would certainly do so again. (Assuming they want me as a customer after this blog post). Unfortunately their attempt to give advice on CLV is, let me use a technical British…
Understanding What Companies Are Spending On Marketing. SG&A Isn’t Great.
I often discuss marketing assets. Specifically, I worry about that the way marketing assets are accounted for in financial reports. This does not help us understand marketing effectiveness. For example, see here and here and here. This results of financial accounting choices creat a significant problem in understanding what marketing does. It means we can’t…
Management Accounting and Customer Recording
At least one area of marketing metrics makes me positive. The future is bright. The area is what we might call management accounting and customer recording. This tends to work best where there are contractual relationships. With contracts or, at least, stable long term connections, we can go a long way to understanding the value…
Improving Political Management; Some Of It Is A Bit Dark Ages
A co-author of mine, Jennifer Lees-Marshment, is a world expert on political marketing, (crudely put winning elections). In recent years she has turned her attention to improving political management. E.g., what politicians and their staffs have to do after they have won. Her new book, Political Management, is the result of years of painstaking work…
Improving Stakeholder Involvement In Government Decision Making
In this blog post I discuss our work on improving stakeholder involvement in government decision making. The Journal of Business Ethics published this in July 2020. Understanding The Views of Stakeholders A major problem in government is understanding the views of its stakeholders. A stakeholder is those who are impacted by, or can impact, the…
Regulation for Conservatives
How much the government should involve themselves in the lives of the public? This was been the theme of 2020 and the Covid crisis. Whatever your views it is unlikely you were totally happy. Die hard libertarians were not happy. Even in the most conservative of jurisdictions they could object. They could point to plenty…
The Destiny of Accounting Measures of Customer Assets
In an optimistic piece Keiningham, Aksoy, and Bejou outline what they think the future of customer asset management is. What should we expect for accounting measures of customer assets? How should we expect such assets to be treated in the future? Why Are Accounting Measures Of Customer Assets So Bad? They note three big problems….
The Value Of Conventions In Visualizations
I must confess to having a mixed attitude to ‘the way things are always done’. I am a big believer in trying new things. Why should we be constrained by what someone did in the past, often for completely idiosyncratic reasons? I find it quite bizarre that the UK and US use miles etc.. These…
The Pain of Paying
An interesting topic in consumer behavior is that people experience ‘pain’ when paying for something. One can think of this as a good thing. We obviously do find joy from gaining the stuff that paying acquires. If, therefore, we didn’t feel any pain when paying we would all end up spending too much. Thus, there…
RFM: Recency, Frequency, Monetary
Database marketing has evolved over the years. Nowadays I would say that CLV (customer lifetime value) has surpassed RFM. CLV is certainly more often recommended by academics (including me) nowadays. (CLV certainly works best with predictable payments. It is a bit more challenging to know how to rank customers with less predictable payments patterns). An…
