1. Are you using RFM analysis to refine your circulation plan on a monthly basis?
2. Are you enhancing your RFM analysis with product purchased and order channel data?
3. Does your Web site work? (This question may sound silly, but more than 70 percent of site abandonments happen because the shopper perceives the site doesn't work!) Here are some examples of areas where you site's performance may not be optimized:
4. Are your telephone customer service reps empowered to solve 90 percent-plus of all problems they're presented with on the first call?
5. Are you tracking when and in what shape your catalogs are received in-home?
6. Is your catalog's copy and photography selling or merely informing?
7. Do customers rave about you? (If not, you have work to do!)
8. Is your employee turnover, including your call center, less than 20 percent per year?
9. Do you have multiple sets of numbers around your business that can't be reconciled easily?
10. Are you driving your plans and programs — and your business — or simply reacting to daily problems?
I suggest in these troubled times that we simply turn off or tune out all the depressing news and focus on doing the right things the right way. If we simply do that, we'll survive to see a better economy and healthier businesses.
Terence Jukes is president of B2B Direct Marketing Intelligence LLC, a strategic B2B direct marketing consultancy based in Fort Lauderdale, Fla., that services clients in the U.S., Canada, France, the U.K. and Germany. You can reach him at email@example.com or (954) 383-5221 (direct line).
Comments or questions are welcome.