What “Marketing’s Laws” say is most important

July 17, 2014


Marketing’s Laws 40/40/20 Rule of Direct Marketing 40% Targeting Customers 40% Offer 20% Creative Message  80/20 Rule of Marketing 80% of your revenue is produced by 20% of your customers 4 P’s of Marketing Product Place Price Promotio 5 C’s of Strategic Marketing Customer Company Competition Collaborators Context  Product Adoption Curve Summary of Marketing’s Laws   […]

Posted in: Marketing, Staffing

BI Productivity Factors’ Influence on Growth

April 27, 2016


Business research is a critical part of how management learns to guide business growth.  The more productive our Business Intelligence activity is the more we learn, and thus the better positioned we are to be successful.  “BI Driven Growth”, simply put, is the part of a business’ growth rate that is a result of improvements […]

Marketing Mix vs Digital Attribution

March 23, 2016


These two methodologies are often pitted against each other as competitors for the same Marketing dollars in today’s marketplace.  In truth, that’s rarely appropriate. On the surface both methodologies offer an ROI and an attribution for digital marketing vehicles such as online display, paid search, e-mail, etc. and thus create conflict by providing distinct answers.  […]

The Likelihood of Being TRUE? (Scientist, Consultant, or Truth Seeker)

September 4, 2013


Clients want to know “What is true?”, while statistical tests offer the likelihood that a relationship in the data could have been “caused by random error.”  The fact that the question and answer don’t line up is usually responded to by quoting textbook doctrine about what statistics can demonstrate and is then followed by adopting […]

Ideas for improving already good models

November 17, 2010


You’re working on the MAIN MODEL. The one that leverages half the company’s assets, and on which your paycheck and that of many others depends. You’ve already run through a stepwise, forward, and backward search of the variables, their interactions, and possible curvatures. What are the most productive things to do next? Here are a […]

Tips for Using Cluster Analysis to Segment Markets (CASS)

November 17, 2010


THE GOAL: When segmenting markets the objective is to find distinct groups of consumers who are similar to each other on multiple variables of “interest”.  If that lofty goal is realized, then products and marketing programs can be designed to appeal to desirable consumer groups so that when CONSUMERS select between you and your competitors, […]

Statistical Modeling is like building with LEGOS

November 17, 2010


LEGOS: 1. Square red pieces can be stacked to build towers. 2. Long skinny pieces can be used as roads. 3. Long skinny pieces on top of square red towers can build bridges. 4. Curved skinny pieces can make turning roads or bridges. 5. Tubes, motors, wheels, etc. can make pretty much anything you can […]

The Most Important and Least Thought about Variable: The Dependent

November 17, 2010


All the hard work we put into the “model” on the right hand side of the equation, is only as accurate as the dependent variable was to start with in reflecting the business problem at hand.  Yet…. modeling efforts typically focus almost exclusively on the prediction of the objective variable, while often accepting the dependent […]