Hillstrom's Multichannel Forensics

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9780977148950: Hillstrom's Multichannel Forensics

In Hillstrom s Multichannel Forensics, Kevin Hillstrom offers CEOs and business leaders a framework for bridging the gap between multichannel marketing strategy and tactics. By illustrating the complex relationship between customers, advertising, products, brands and channels, Kevin is able to help the executive see how customers migrate from prospect to first-time buyer status to loyal brand advocates. The techniques in this book illustrate the most productive paths that customers take, resulting in increased sales and profit. Armed with these breakthrough techniques, the CEO or business leader knows where to invest scarce marketing resources to maximize return on investment in a multichannel retailing environment.

The business world was easier to manage, back in 1990. Retailers and catalogers had limited systems that housed customer data. By using canned reports produced by the data processing staff, leaders learned how various products sold, how each catalog drop performed, and how various customer segments spent money. With limited reports, and few marketing options, the executive made decisions based on intuition, tribal knowledge, and canned reports.

Today s multichannel retailing world changed how executives manage online, catalog, or retail business models. Seemingly overnight, the online channel provided numerous ways for customers to interact with businesses. Ecommerce, email, search, portals, affiliates, blogs, and countless other technologies overwhelm today s CEO.

The overwhelming proliferation of channels, and shorter analyze, plan, execute cycles can be confusing to today s multichannel business leader. Too often, senior managers are asked to develop business strategy, but are given an overwhelming amount of performance data that does not help them develop effective business strategies.

Now, Kevin Hillstrom has finally put it all together, made it clear, and shows you exactly how customers migrate through the buying relationship and which ones you should focus on for improved profitability.

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About the Author:

Kevin Hillstrom is President of MineThatData, a consultancy that helps CEOs and executives understand the complex relationship between customers, advertising, products, brands and channels. By strategically reviewing actual customer purchase transactions, Kevin illustrates natural paths that customers take when migrating from first purchase to loyal customer. This knowledge drives strategic thinking within multichannel retailers, resulting in increased sales and profits. The findings of Kevin s analyses help business leaders and CEOs understand the specific role that advertising, products, brands and channels play within a corporation.

Kevin s first book, Hillstrom s Database Marketing (Direct Academy, 2005, Amazon; $95.00) describes the foundations of his database marketing vision and is the advantageous companion book to Hillstrom s Multichannel Forensics.

Kevin spent the better part of the past two decades at some of America s most respected multichannel retailers. As Vice President of Database Marketing at Nordstrom, Kevin was part of a leadership team that turned a money-losing direct channel into one that became highly profitable. Kevin s team helped Nordstrom understand how a retail website and catalog marketing support and grow comp store sales in the retail channel.

Kevin also spent five years as Director of Circulation at Eddie Bauer. During his tenure there, he leveraged a multichannel database to clearly illustrate how an emerging channel called the internet would influence catalog and retail sales in future years. Kevin s circulation team developed contact strategies that yielded the best pre-tax year in the history of the direct division, in 1999.

Kevin s formative years were spent at Lands End. His five year stint as Manager of Analytical Services included a complex analysis of how each of seven catalog titles interacted with each other, yielding varying levels of incremental sales and profit. Kevin s team also developed statistical models that determined who should receive the catalogs mailed by business leaders across various catalog titles.

Kevin and his wife live in the suburban Seattle area, enjoying nature and a moderate climate.

Review:

It has become an imperative for retail executives to have a deep understanding of customer behavior and their respective multi-channel environment. To support this business intelligence, Kevin brings significant database marketing experience and a keen focus on translating data analysis into understandable and helpful frameworks. Within these frameworks, Kevin does a great job explaining key performance metrics and how to utilize them for meaningful projections and sensitivity analyses. Likewise he suggests practical strategies and tactics to optimize and integrate multichannel marketing.

Michelle Buzzoni

Divisional Vice President, Nordstrom --ForBetterBooks

Every business executive that wants to stay on the ridge of the knowledge wave that represents the movement and dynamics of its customer s behavior must dive into this read. Countless hours and significant investment contribute to building the brand and developing/refreshing products. Understanding how customers interact and behave with ones brand and product across multiple channels is crucial to developing strategies that will bring about future growth and profitability. Fortunately Kevin delivers a collection of brain thrusts that allow us mere mortals to better understand our customers. Having worked with Kevin a number of years at Lands End and Nordstrom, I can say unequivocally he is among the very best at his trade. As this read will attest, Kevin digs in like a crime scene investigator to collect and analyze all the details; using data, experience, some magic analytical tool box, humor and honed writing skills, he provides information that will allow you to build a more meaningful and profitable relationship with your customers. Good job Kevin!

Frank Buettner

President, Red Envelope --ForBetterBooks

"About this title" may belong to another edition of this title.

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