Scarcity as a Marketing Lever
I did some analysis to track the end-to-end conversion process for one of my Internet projects to identify the bottlenecks (and subsequently improve on them). As one would expect, the conversion from opt-ins to sales is usually the lowest (as this is the ’steepest’ step that a customer would take in the whole process from start till the end).
My analysis showed up some really surprising results - the sales conversion rates were well above normal, but the signup CONFIRMATION rates weren’t.
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Updates!
It has been awhile now since I last blogged. July was a hectic month for me - I had three projects that I needed to close by the end of the month. Yesterday I spent a whole day at a seminar - and managed to jot a few thoughts to write on the blog during breaks.
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Life Cycle Segmentation Model
I have blogged about the life cycle segmentation model at my pet project Liferati.com here -
http://liferati.com/blog/2008/06/segmentation-model/
The basis of Liferati is the ability to segmentize users in ‘real time’ using website analytics in order to deliver contextualized content as well as recommended affiliate products.
I have worked on a life cycle model when I was in Procter & Gamble where we developed a direct response strategy for one of the consumer products. Reapplying this to another business (in B2B setting), we crafted a direct mailer strategy to build customer loyalty which reported double digit ROI.
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Amoral Marketing
Finally, got around to watch Derren Brown’s Something Wicked This Way Comes video. Filmed at Hammersmith in 2005, he performed his mentalism ‘tricks’ which were centered around one premise - that you can subconsciously plant ideas into people’s minds through your words.
I have always wondered about the effectiveness of the persuasion tactic of “covert suggestion”, having first stumbled upon it when someone sent me some materials by Ross Jeffries called “Speed Seduction”.
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