Velvet Rope Marketing- The Marketing Innovation to Double Your Profits
What the webinar is all about with?
The main concept of the Webinar is to address the idea of Velvet Rope Marketing. VRM is a customer-centric marketing model that can double your company’s profits. Customer-centricity is the idea that a company’s customers are not created equal. A part of the customer base provides the company with most of its revenue (20% contribute to 80% of the revenue) and customer-centricity focuses on that special group. By realising that the customer base is heterogeneous, customer-centricity urges brands to focus and cater to the special group (the Best Customers) only and not to the entire customer base.
We have learned and developed a model which pushes brands to cater to the customers that fall in their top 20% percentile. The top 20% constitutes your Best Customer group and our model suggests that by providing these customers with Ease, Access, and Exclusivity your brand will double its profits!
VRM- 7 Key Parameters from the webinar:
- The idea: The main idea behind VRM is that we will determine your company’s Best Customers and focus our marketing and advertising efforts on that segment to boost your company’s revenue. Essentially, focus on a sub-segment rather than all — the 20% “Best Customers”
- The science: The metric used to determine your Best Customers is Customer Lifetime Value (CLV). We have developed a model to calculate each of your customer’s lifetime value to then demarcate the top 20% as your Best Customers.
- The solution: Once we have determined your Best Customers using our CLV model, we will help you with ideas as to what we can do for Best Customers. VRM will work with you to come up with a toolkit of suggestions on how to engage with them.
- The tech: The next step is to integrate all the data from our analysis and create the appropriate journeys on our omni-channel Smartech platform.
- The focus: In these strange times, VRM’s primary goal is to help your company by growing its profits; more specifically, how catering to your Best Customers by providing them with Ease, Exclusivity, and Access can lead to a doubling of profits.
- The add-on benefit: Along with creating the VRM module, an additional concept that we are developing is the integration of adtech and martech. The confluence of both these platforms leads to benefits like the reduction of acquisition costs for new customers.
- The pricing: We are not charging an additional fee to provide you with VRM. Our model is looking for a gainshare — we make money only if you make money. Thereby we have our own skin in the game and our success is dependent on yours.