Math + Marketing = Bottom-Line Bliss August 27, 2008 Edited by Jeremy Cohen
Looking for innovative new ways to give your marketing efforts a shot in the arm? Loyalty Builders, a predictive marketing group based out of Portsmouth, N.H., recently launched a new mathematical marketing group on the popular social networking site Facebook. The group's purpose? To discuss how powerful mathematics are changing the face of the profession, as well as to offer news, links and events relating to the field of mathematical marketing.
Because mathematical marketing is still an emerging practice for marketers at organizations of all sizes, the information on the is not only used to drive awareness, but also to foster better understanding of mathematical marketing techniques and how they can be used to increase marketing relevance, improve response rates and help companies become more profitable and competitive. The group is led by Mark Klein, CEO and founder of Loyalty Builders.
Mathematical marketing describes the extended process of marketing to existing customers based on a scientific understanding of how their past behavior predicts their future purchases. It utilizes techniques such as predictive analytics, behavioral targeting and tracking, multivariate testing and what-if analysis. Members are encouraged to use the group discussion board to pose questions, suggest ideas, share mathematical marketing success stories and access valuable resources. The most notable of the latter is an eBook entitled the Field Guide to Mathematical Marketing, written by Klein.
The group already has growing international membership, connecting marketers from Boston to San Francisco as well as internationally, and representing organizations such as TJX Companies, iRobot, Progressive Software and Boeing. The group is open to anyone with a Facebook account; marketers are welcome to join or invite others to join.
"This is a non-commercial forum," explains Klein. "It's a place for marketers to learn about progressive new tools for effective customer retention marketing and to share ideas."
Editor's Note: Facebook members who would like to learn more about the mathematical marketing group or to join can click here.
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