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…
Creating Stories With Data Visualizations
Cole Nussbaumer Knaflic has a useful book — Storytelling with Data. This contains lots of good advice on Creating Stories With Data Visualizations and generally improving data visualization. She tries to ensure the reader does not lazily follow the first thing a software (e.g., Excel) recommends. This is important, she gives many examples in the…
What Is CLV For? Knowing Helps Decisions About CLV
Customer Lifetime Value is an important metric and it has potential to be valuable in running a wide range of companies. One thing that is useful with any approach is to say what is it for? So what is CLV for? This seems like too simple a question to be valuable but often that isn’t…
Velocity Graphs, Multi-Channel Distribution and Managing Distribution
My first blog as a University of Georgia professor (written in summer 2020). The blog post features an excellent new book on multi-channel distribution. This by my professor when I was at Darden, Paul Farris, and Kusum Ailawadi, another star academic. (She is at Tuck). Thinking Through Your Multi-Channel Distirbution The authors tackle multi-channel distribution….
