Precision Marketing: The New Rules for Attracting, Retaining and Leveraging Profitable CustomersHardback
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- Publisher: John Wiley & Sons Inc
- Format: Hardback | 272 pages
- Dimensions: 153mm x 237mm x 25mm | 458g
- Publication date: 6 February 2004
- Publication City/Country: New York
- ISBN 10: 0471467618
- ISBN 13: 9780471467618
- Illustrations note: Illustrations
- Sales rank: 1,592,548
Today, the pressure to demonstrate Marketing ROI has never been greater, and many companies are taking a more scientific approach to marketing, and treating it as a true business discipline. This means applying more rigor to capturing, analyzing and manipulating customer data, and delivering narrowly-defined messages designed to resonate with customers' specific wants and needs. This process is called precision marketing. Based on extensive research and their own experience working with some of the world's largest and most progressive marketing organizations, Jeff Zabin and co-author Gresh Brebach show how precision marketing can yield enormous business value. Writing in an engaging style that touches on everything from Renaissance thinking to Minority Report, they provide a definitive roadmap for combining precision marketing with mass marketing to cut costs, grow revenues, and create an overall competitive advantage.
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JEFF ZABIN is Director of Marketing in the Global Marketing Solutions group at Fair Isaac, the leading provider of customer analytics and decision technology. He is the coauthor of The Seven Steps to Nirvana. GRESH BREBACH is President of the Brebach Group, specializing in marketing services. Previously, he served as a Director at McKinsey & Co. and a Managing Partner of Accenture.
"...a reliable pointer in the way marketing is developing..." (Financial Times, 31 March 2004)
Back cover copy
Praise for Precision Marketing"At Timex, we know about precision. For 150 years, we've built quality watches that tell accurate and exact time. Like other innovative companies, we also know about the need to deliver targeted and compelling marketing messages by taking advantage of new technologies and data analytics. In this book, Zabin and Brebach provide excellent guidance for doing just that!" -Mark Shuster, Chief Marketing Officer, Timex Corporation"During my twenty-year career as an advertising executive, I was responsible for hundreds of millions of dollars spent on building powerful brand relationships. Yet, at the end of the day, I was never able to give our clients something they really wanted: deep, intimate knowledge about their customers. This book shows how, by utilizing precision marketing techniques, companies can uncover that intimate knowledge-and, ultimately, create increased shareholder value. The insights are illuminating, compelling, and highly actionable." -Steven Sjoblad, former president, Fallon Worldwide"Today's business environment demands that companies understand consumers by narrowly defined segments, and manage and value them accordingly. Jeff Zabin and Gresh Brebach do an excellent job of showing how precision marketing is the catalyst that allows a company to deliver increased value to consumers while also achieving greater financial returns for shareholders. This book is a must-read for any marketer trying to achieve either of these goals." -Michael J. Bragg, Founder Online Strategies and Consumer Centric Marketing Services ConAgra Foods"With The Seven Steps to Nirvana, Jeff Zabin established his reputation as a thought leader in the area of technology-enabled business strategy. With the publication of this book, he extends that reputation deep into the realm of marketing. -Jim Anfield, President, Strategic Management Association"Everybody knows mass marketing is dead, but until now nobody has taken the next step: figuring out how to target a company's most profitable customers. Jeff Zabin and Gresh Brebach have tackled this job with Precision Marketing, an interesting, well-written, and well-researched book on the subject. Every marketer should read it." -Al Ries, coauthor, The Fall of Advertising and the Rise of PR
COMPANIES: "How can we spend our marketing dollars moreeffectively, and minimize waste?" CUSTOMERS: "Why can't companies cut out all the junk, andpresent me with only relevant and compelling offers?"Marketers spend upwards of $250 billion a year on advertisingand other forms of marketing promotion. Is it money well spent? Inmost cases, the answer is no, not by a long shot. The reason issimple: Most marketing messages reach a large number of the "wrongpeople" and only a small fraction of the "right people." The wrongpeople are consumers from whom a company stands to derive little, if any, benefit. The right people are consumers who can make allthe difference in the world in terms of future growth andprofitability.In their efforts to drive brand awareness and sales revenues, smart companies are coming to realize they can no longer afford tomarket mostly to the wrong people. They can no longer put all theireggs in the basket of mass media marketing-or, what someexecutives knowingly call "spray-and-pray marketing."Today, the pressure to demonstrate marketing ROI has never beengreater. That being the case, many companies are taking a hard lookat how they allocate their marketing resources. They're takinga more scientific approach to marketing and treating it as a truebusiness discipline. This means more rigorously capturing, analyzing, and manipulating customer data. And it means deliveringnarrowly defined messages that are differentiated, and designed toresonate with customers' specific wants and needs. Thisprocess is called precision marketing. The good news is that it canbe readily deployed, thanks to a new breed of high-tech tools andanalytical capabilities.With this book, Jeff Zabin and coauthor Gresh Brebach show howthese tools and capabilities can yield enormous business value.Writing in an engaging style that touches on everything fromRenaissance thinking to science fiction a la Minority Report, they provide a definitive road map for combining precisionmarketing with mass marketing to cut costs, grow revenues, andcreate an overall competitive advantage.Based on extensive research and their own experience workingwith some of the world's largest and most progressivemarketing organizations, Zabin and Brebach take an exhaustive lookat how smart companies are-in the words of P&G's CEOA. G. Lafley-"tying marketing spending more tightly to salespotential and using new approaches to target consumers moreefficiently." Topics include: The key social and technological trends remaking the marketinglandscape, and what it all means for corporate decision makersHow managers can respond productively to the pressures ofresource constraints and marketing accountabilityThe importance of context sensitivity, the ongoing evolution ofmarket segmentation, and the benefits of "blueprinting the idealcustomer"How new technology-enabled processes can be used to managecustomer data and drive more efficient and profitable customerinteractionsHow business process outsourcing can improve the overallproductivity and effectiveness of marketing programsHow to strike the right balance between capturing customer dataand respecting customer privacyHow modeling and scoring techniques can be used to predictfuture customer preferences, match offerings to customer wants andneeds, and create the marketing messages that are most likely toelicit a favorable responseWith a foreword by marketing guru Philip Kotler, PrecisionMarketing paints a vivid portrait of a technology-enabled futurerife with happy marketers and happy customers. It's a portraitthat smart companies can take to the bank starting today.
Table of contents
Acknowledgments. Foreword by Philip Kotler. Introduction. 1. The Rise of Precision Marketing. 2. The Precision Marketing Cycle. 3. Exploiting the Data. 4. Precision Marketing in the Age of Gaia. 5. Fifteen Minutes of Privacy? 6. The Precision Marketing Future. Notes. Index. About the Authors.