Recent Articles
Near Term Value (NTV) for eCommerce – Part 2 of 2
Courtesty Pixabay | rawpixel GUEST POST BY WISEGUYS MARKETING’S BRUCE GREGOIRE In Part 1 of our series, we addressed The Art and Science of Customer Lifetime Value (LTV) – and why, although LTV is a valuable metric, it is commonly overlooked by marketers. Keeping in mind that your loyal customer is only one click away from switching their loyalty to another brand, we also want to address the glaringly obvious elephant in the room: who among us can wait a “customer’s lifetime” to measure this stuff? Near Term Value (NTV) Some time ago I was introduced to Near Term Value (NTV) as an alternative to Customer LTV. With NTV, rather than relying on a customer-lifetime value, we instead look at the trailing 12 months from a customer’s entry date. The enterprise I studied could accept a loss on an original order in hopes of making a profit soon thereafter. Understandably, they could not afford to continue spending marketing dollars over many years before finding out if that customer would be profitable. Gathering early, NTV results gave them trend
The Art and Science of Customer Lifetime Value (LTV) – Part 1 of 2
Courtesy Pixabay | geralt GUEST POST BY WISEGUYS MARKETING'S BRUCE GREGOIRE Customer LTV, simply put, is the net dollar value of your average customer over his/her lifetime, and it’s a subject marketers love to talk about but rarely implement. The reasons for this disconnect could be many: Perhaps LTV is viewed as a strategic in nature: something you only need to do every year or so. Kind of like doing your bucket list – not something you pay attention to routinely. Or it may be that LTV is rare for a more practical reason: without an integrated marketing database, marketers have huge challenges bringing the components of LTV (Average sale $, COGS, retention rates, customer acquisition expense, present value of money, etc) together in one place. More recently, the advent of click-thru product purchasing, most notably via Amazon, has created the fear that your long-time customer is only one click away from switching their loyalty elsewhere. Why LTV Every shrewd CEO reserves the right to demand ROI from your marketing efforts. LTV is one important metric
M.O.M. & TaxJar, Sales Tax Nexus Solved!
Courtesy Pixabay | PhotoMIX-Company Compliance with State Sales Tax nexus is the hottest topic in eCommerce today. The ironic part of this is this that, unlike most hot topics in the world of eCommerce, Sales Tax nexus isn’t something that builds revenue, or even expands the reach of a brand. Yet it is a complex, evolving and urgent need for every eTailer. Our customers have spoken, loudly I might add, and they let us know that they desperately need and want help navigating this. We listened and we’ve acted. How Freestyle Solutions Can Help Brands with State Sales Tax Compliance How have we helped you? First it was a product launch in September to help Freestyle customers manage taxes within MO.M. Now, we are proud to announce that Freestyle has integrated TaxJar, a leader in tax reporting, compliance and remittance, with M.O.M. With the M.O.M. TaxJar Module, we’ve addressed what our customers are required to manage – an urgent need that will allow you to focus your attention on what is most important, building your business. We are
INFOGRAPHIC: 5 Tips for Retail Promotions that Work
Want to learn more about how Freestyle's industry-leading M.O.M. software can help solve all your order and inventory management needs? Reach out today to learn more, or email us at: marketing@freestylesolutions.com
Transportation Disruptions in 2019
Courtesy Pixaby | geralt If you were to ask eCommerce business executives what they consider to be potential disruptions for their business in 2019, what do you think they’d say? You might guess the two most popular answers would be: Sales Tax Nexus and Amazon And you’d be correct. > But what if those answers were not the only looming disruptions 2019 may offer? > And what if Amazon could provide disruption in a way you aren’t expecting? Enter Amazon Air and the truck driver shortage. Amazon expands its transportation capacity: A few weeks ago Amazon announced they leased ten more cargo planes and that their fleet, formerly called Prime Air, will soon include fifty aircraft. That news sparked immediate reaction from the stock market, with a not-unexpected dive in the share price of transportation stalwarts FedEx, UPS and others. Amazon supplies a healthy volume of shipments for large carriers, and any switch to increased reliance on their own air service could potentially save Amazon money while hurting major shipping companies. The full effect of
Top 3 Takeaways from the 2019 NRF Show
Courtesy Pixabay | lookfinda Were you at The Big Show (also known as NRF) last week? Freestyle Solutions was...and we learned a lot about what’s becoming increasingly important in the eTailer and eCommerce landscape. Read on for our top three takeaways from NRF’s Big Show 2019. Customer experience – in a nutshell, is everything. In the digital age we live in, where social presence is a given, and the viral potential to make or break a brand with just one influencer’s tweet or post a mere a click away, the experience you provide your customers can be a game changer in growing your brand. Personalization is key. Enabling store associates to delight is a must. Touch screen and interactive devices and displays are quickly becoming the norm (not to mention all but demanded by consumers). Business optimization – is more important than ever. Consumers expect a lot from the brands they support these days, and to say they’re finicky about being inconvenienced is a grand understatement. Customers want fast, efficient and effective in everything from the research leading