Marketing is becoming a data-driven discipline and with good reason. But many companies are lagging behind this trend, putting performance and ROI at risk. It used to be that marketing was looked at as a “soft skill,” whereas the finance people were the real quantitative minds […]
You’re sitting in a Ford Focus, or maybe a Nissan Versa, or perhaps a Hyundai Accent. You’ve waited in line at the counter, initialed in seven places, declined the insurance, and received the rental contract printed on an old dot-matrix printer. From which rental car company did you rent the car?
Amazon is among the most talked-about companies in the world, and for good reason. The e-commerce giant has literally reinvented multiple industries. What’s remarkable is that throughout Amazon’s growth story, it has never lost sight of its customers, repeatedly developing seamless user experiences and continuing to add value to its flagship Prime program.
Rewards programs can be lucrative for loyal customers, but when companies add lots of rules and restrictions to a loyalty program, it can actually have the opposite effect. Customers are very perceptive, and they understand when something is a value and something is not. One example of this is when rewards expire.
Whether it’s bank interest rates, credit card rewards programs, sales tax or retail discounts, consumers are bombarded with numbers and math every day. Math, like politics, always seems to divide people (pun intended). Ask someone if they like math, and it’s usually either a confident yes or a strong no. In many consumer focus groups, the line “I hate math” is commonplace…