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WOM Marketing How valuable is Word Of Mouth? Group 7

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WOM Marketing. How valuable is Word Of Mouth ?. Group 7. PLAN. 1. MOST VALUABLE CUSTOMERS. 2. RESUME OF THE ARTICLE. 3. IMPORTANCE OF IDENTIFYING NEW CUSTOMERS. 4. CLV AND CRV. 5. INTRODUCTION. CLEAR AND TRUSTFUL MESSAGE. CONCLUSION. - PowerPoint PPT Presentation

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WOM MarketingHow valuable is Word Of Mouth?Group 7

This template can be used as a starter file for a photo album.

1INTRODUCTIONPLANMOST VALUABLE CUSTOMERS12RESUME OF THE ARTICLE3IMPORTANCE OF IDENTIFYING NEW CUSTOMERS4CLV AND CRV5CLEAR AND TRUSTFUL MESSAGECONCLUSION2

Who do you think are the most valuable customers?31.MOST VALUABLE CUSTOMERS

Those whose word of mouth brings the most profitable new customers, regardless of how much they themselves buy.42.RESUME OF THE ARTICLE

Identify the customers who bring in the most referrals.Then capitalize on the knowledge.53. IMPORTANCE OF IDENTIFYING CUSTOMERSCalculate each customers lifetime valueCalculate each customers referral valueSegment customers based on CLV & CRVTarget your marketing strategies by segmentsChampions (high purchasing behavior- low referring)Affluents (high purchasing behavior- low referring)Advocates (low purchasing behavior- high referring)Misers (low purchasing behavior- low referring)Increasing marketing Return On Investment6SegmentationWOM applied to segmentation3 main segments: affluents, advocates and misersObjective: draw customer value matrices relevant to each sample in order to adapt our mareting campaigns to their needs:Affluents: direct-mail promotion to encourage them to refer more customers.Advocates: cross-selling and up-selling to increase their lifetime valueMisers: combination of both techniques in order to increase their CLV and CRV

7DEVELOPMENT

VIDEO

94.CLV AND CRVWhat is CLV ?Simply knowing what an average customer $is$ to your business in a certain period of time

Better decision making =

More accurate Budgeting for marketing campaigns

10 They know whats CRV is about!

Networking companiesI would rather earn 1% of 100 peoples efforts than 100% of my own efforts - John Paul Getty (American Billionaire)11Clear messageGiving a Clear Message will help your customers to understand better what you offer to them.In this case, telling your referral customers how they are going to be benefited of referring new customers, will encourage them to do it, as now they understand how and what they are going to win. 5. CLEAR AND TRUSTFUL MESSAGE

125. CLEAR AND TRUSTFUL MESSAGETrustful messageShowing your referral customers their benefit of referring new customers is very important to be done in the right way.If you show warranties to your referrals about how they are going to win, they will trust and do their best.Offering immediate payment for each referral, insted of payment for a certain ammount of of referrals.13CONCLUSION