BUS-M 300 1st Edition Lecture 21 Outline of Current LectureI. Current SituationII. Bride Changes in GenerationsIII. Why Email?IV. Predictive CustomizationV. What Happened?Current Lecture I. Current Situationa. Brides are now waiting to marryb. They have less moneyc. There are many generational differencesd. Brides are now focusing on careere. The recessionII. Bride Changes in Generationsa. Baby Boomers:i. Most educatedb. GenXi. Accustomed to change, diversityc. GenYi. Tough economyThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.ii. High maintenanceiii. Trophy generationd. GenZi. Tech centerede. Implications from GenYi. Internet based marketingii. More affordable productsiii. Highly trained employeesIII. Why Email?a. Purchase Conversion Funneli. 99% visit websiteii. 75% registeriii. 50% visitiv. 35% buyb. 1st point of contactc. Primary conversion vehicled. Low costIV. Predictive Customizationa. Implementing optimal messaging based on prior behavior – much better lifetime value (+6%)b. Click 1st email > rationalc. No planning tool / no click 1st email > emotionald. Planning tool > no emailse. Brand messaging debatei. Investors of advertising believed in rational advertisingV. What Happened?a. Changed introduction of DB to bridesb. Implemented champion/challenger program > strengthen relationship developmentsc. Market share up +10%, Rev +72%, EBITDA +
View Full Document
Unlocking...