by Chuck McKay | Jan 16, 2011 | Budgeting, Pricing, and Return on Advertising Investment (ROAI), Fresh Catch, Search Engine Optimization
Washington engraving from $1 bill. They called the procedure venesection – puncturing a vein to remove blood from the body. From the time of the ancient Greeks, physicians had prescribed bloodletting as treatment to “balance the body’s four humors.” It was...
by Chuck McKay | Jan 11, 2011 | Buying Stages / Sales Conversion, Market Segmentation, Targeted Marketing, Database Marketing
You carry a cellular telephone. You’re reasonably happy with the service, the rate, even with the quality of your phone calls. Still, the phone you purchased two years ago was already proven technology by those standards, and is now considered old. Plus,...
by Chuck McKay | Oct 25, 2010 | Lifetime Customer Value (LCV), Two-Step Marketing / Back End Sales
In “How to Make Money by Losing Money,” we introduced the concept of back end sales, and suggested it was worth giving away a $400 (retail) cellular telephone in order to get a $100 per month cellular telephone service contract. How did we know? We simply subtracted...
by Chuck McKay | Jul 9, 2010 | Lifetime Customer Value (LCV), Two-Step Marketing / Back End Sales
Would you buy a dollar for 50 cents? OK, that one was easy. If you could hand me 50 cents, and get a dollar back every time, you’d push as many fifty cent pieces in my direction as I’d be willing to accept. What about for 99 cents? Would you be as excited...
by Chuck McKay | Aug 3, 2009 | Customer Focus, Retention, and Evangelism, Market Segmentation, Targeted Marketing, Database Marketing
As I headed out the door the Lovely Mrs. McKay handed me a coupon from the new C store in our neighborhood, saying “You’ve got to stop for gas anyway. Here’s a coffee for the road.” The coupon offered a “free coffee beverage” from, oh, let’s call...
