Eckler’s Approach to 3-Year Planning Puts Customer Data, History to Work
As for three-year planning on customer acquisition, Gaines and Valentino outlined another good/better/best scenario.
Good: have a well-publicized catalog request program via magazine ads, Web site and trade shows;
Better: compare requesters to active buyers to determine your true requester rate and response; and
Best: optimize your requester file to see who has the greatest propensity to respond to your offer.
“If you look at a spreadsheet from a good/better/best standpoint,” Valentino said, “you can look at additional data, such as retention rates. Look at historical data, so when you acquire customers, you can determine how many from the original group made purchases in year two and year three. Looking at that from a retention standpoint, all the bells go off. So you track this, and find some trends” when putting a three-year customer acquisition plan together.