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on April 4, 2001
One of the leading authorities in database marketing, and author of The Complete Database Marketer, has released the second edition of Strategic Database Marketing. There is a certain overlap between the two books, but whereas The Complete Database Marketer focusses on both the operational and strategic side of database marketing, this one goes much more in depth into developing database marketing strategies and the many tools you can use to develop your strategy (e.g. RFM, Lifetime Value, Profitability Segmenting, etc). This second edition also features some new material about the opportunities of the Internet, without becoming an e-commerce guide. Arthur has a very down-to-earth way of writing, which makes this both an educational and highly enjoyable work to read. He also illustrates his teachings with many real-life examples, complete with LTV analyses. Finally, there's an extensive glossary and guide on how to keep up with developments in the database marketing field in the back of the book. My only bit of criticism would be the quizes at the end of each chapter, which at times seem to ask about rather trivial facts, while some of the answers in the back of the book seem to be incorrect.
Anyway, if there ever was a bible for database marketing, this is it ! An absolute must-have for database marketers and a fascinating read for marketers in general. Highly recommended !
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This is the book I have been waiting for, the book that gets to the crux of the CRM matter, which is, what information is needed to create effective Customer Relationship Managamenent that is both theoreticaly sound and business oriented.
The biggest and most important component of CRM are the strategic databases that contain the information necessary to better understand a companies clients, corporate wide.
This book describes all the key points necessary to create useful database marketing - it's practical approach is its added value.
I'ts not the easiest book to read, but the value that can be obtained from it far surpasses the effort needed to understand it.
It's also a great book to glean information from when preparing to deal with prospective CRM vendors -- do they really know what they are selling or talking about?
regards,
martyn_jones@iniciativas.com
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on June 16, 2000
Strategic Database Marketing is one of the most practical business books I have ever read. Arthur Hughes introduces the reader to such key database marketing concepts as Lifetime Value, ROI, RFM Analysis and Profitability. The author illustrates each concept with success stories, costly failures, and last but not least...numerical examples. This allows the reader to get a practical, actionable understanding of those concepts. Furthermore, Arthur Hughes empowers the reader by giving her the opportunity to test her understanding of the material. He does this by offering an "Executive Quiz" at the end of each chapter. To summarize, Strategic Database Marketing has effectively proven how to gain the most from your customer base, while satisfying their wants and needs.
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on June 16, 2000
Strategic Database Marketing is one of the most practical business books I have ever read. Arthur Hughes introduces the reader to such key database marketing concepts as Lifetime Value, ROI, RFM Analysis and Profitability. The author illustrates each concept with success stories, costly failures, and last but not least...numerical examples. This allows the reader to get a practical, actionable understanding of those concepts. Furthermore, Arthur Hughes empowers the reader by giving her the opportunity to test her understanding of the material. He does this by offering an "Executive Quiz" at the end of each chapter. To summarize, Strategic Database Marketing has effectively proven how to gain the most from your customer base, while satisfying their wants and needs.
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on June 16, 2000
Strategic Database Marketing is one of the most practical business books I have ever read. Arthur Hughes introduces the reader to such key database marketing concepts as Lifetime Value, ROI, RFM Analysis and Profitability. The author illustrates each concept with success stories, costly failures, and last but not least...numerical examples. This allows the reader to get a practical, actionable understanding of those concepts. Furthermore, Arthur Hughes empowers the reader by giving her the opportunity to test her understanding of the material. He does this by offering an "Executive Quiz" at the end of each chapter. To summarize, Strategic Database Marketing has effectively proven how to gain the most from your customer base, while satisfying their wants and needs.
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Hughes makes it exceedingly clear why customer loyalty and lifetime value are such critical marketing concepts. Hughes helps marketers understand why our hyper-focus on customer acquisition needs to be adjusted to consider retention and upsell as well.
In particular, Hughes explains:
* What Lifetime Value (LTV) is, why it matters, and how to calculate it
* The importance of testing programs and how best to go about it
* Segmenting your customer base by loyalty and LTV
* How tactics should differ for each segment
* Practical tips for creating a successful database marketing campaign.
Case studies and ROI numbers are used throughout the book. A must read for marketing proessionals.
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on March 7, 2001
I have only been in the direct/database marketing field for a relatively brief time. However, I have already read many recent and highly acclaimed books on the two subjects. Although I rate these books from fair to excellent, none of them compares to this outstanding guide and reference by Mr. Hughes. The coverage of RFM, Recency, Frequency, and Monetary, and LTV, lifetime value, analyses are undoubtedly the best I have read in any magazine or book, with the exception of Mr. Hughes's (please excuse the ancient grammar standard) other writings.
I would highly recommend this book to any direct/database marketing professional. I can't wait for the next edition.
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on May 26, 2001
This book is the main book for my Internet Marketing Class at Mercy College's MS in Internet Business Systems program. It includes all necessary topics such as database marketing, banner advertisement, calculating LTV and RFM Email Marketing and best practices. This book is a must read for anyone in direct marketing field.
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