Kevin Hilstrom is president of MineThatData, a consultancy that helps CEOs understand the complex relationship between advertising, customers, products, brands and channels. His clients include billion dollar retailers, international direct marketers, publishers, catalog brands and online pure-plays.
Prior to founding MineThatData, Kevin spent nearly 20 years in multichannel retailing at some of the most well-known brands in the U.S., including Nordstrom, where he was the vice president of database marketing, Eddie Bauer and Lands’ End. Kevin is also author of numerous books, including his most recent, “Online Marketing Simulations,” available at Amazon.com.
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Marketers are told that they have to offer customers discounts and promotions on “Cyber Monday,” the Monday after Thanksgiving. By doing so, they create a lot of media hype.
For the finance folks, their jobs begin the day after Cyber Monday. They analyze the profitability of the event and the future profitability of the customers who purchased on Cyber Monday.
With this in mind, let’s go through a checklist of attributes that you need to analyze to understand whether Cyber Monday was profitable or not, from a customer standpoint.
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