“Sorry about the Meerkats, but your break down was our breakthrough,” Jerry said. Jerry’s been a client since The Dark Ages. He called immediately after the board meeting ended to offer his apologies and his usual half-Lombardi-half-Belichick muster. “Next time, just send popcorn instead of the damn greenbar,” I replied. Yes, this call happened in 2022, and yes, this multi-billion-dollar company still sends PAPER reports in advance of meetings. … [Read more...]
Next Cart Value: Using Artificial Intelligence to Predict Future Customer Value
For years, marketers have been predicting Next Cart Value (NCV) – the amount of money an individual will spend on their next purchase. (Customer X will likely spend $50 on her next purchase.) Historically, this has been tied in with Next Logical Product analysis. (Customer X will probably buy Widget Q and thus spend $50 on her next purchase.) These days, it tends to be more of a standalone metric. Artificial Intelligence/Machine Learning has … [Read more...]
How To Measure Success in Marketing Artificial Intelligence Projects
At one of the last conferences I attended, one of the attendees earnestly asked the speaker, “what do we need to do to have successful Marketing AI projects?” The speaker, who apparently thought he was auditioning for an episode of Snark Tank, retorted, “learn how to measure them properly,” without even a chuckle. The attendee didn’t move from the microphone at the front, waiting patiently for a “real” answer. The speaker, whom I consider to … [Read more...]
6 Proven Ways You Can Use Artificial Intelligence To Improve Your Lead Generation Efforts
Now that it’s hitting marketers that the company with the best data wins, they’re finally taking their lead generation efforts more seriously. (Insert angels singing here.) First, what’s considered an inquiry or lead? Anyone with a propensity to act and/or specific interest that raises their hand and starts a dialog with you. Don’t worry; they don’t have to literally raise their hand and talk to you; they just need to give you something of … [Read more...]
What is Likelihood to Purchase (LTP) Rate?
Likelihood to Purchase (LTP) predicts how likely an individual is to purchase. For decades, marketers have determined their LTP rate. Some use old-school intent surveys or outbound telemarketing qualifiers to assess how likely someone is to buy. Others use models based on demographics, past purchasing behavior, and other variables. Artificial Intelligence/Machine Learning has put your LTP Rate on steroids. Instead of just a few preselected … [Read more...]
Catalogers and other offline marketers have many advantages when it comes to E-Commerce. 
