Newell Rubbermaid CFO resigns
Newell Rubbermaid’s EVP and CFO Doug Martin has put in his notice and is moving on to life with a new — and undisclosed — company.
"On behalf of the board of directors and the entire company, I want to thank Doug for his invaluable contributions and leadership over 27 years of service with Newell Rubbermaid," said president and CEO Michael Polk. "During the last two years as CFO, Doug has been instrumental in driving the Growth Game Plan into action. I know Doug and his family are excited by returning home to their extended family in the Midwest and I wish him continued success in his future endeavors."
Martin will officially resign from his role Aug. 31, 2014. Newell Rubbermaid’s Spencer Stuart will choose his successor, for which a search is currently underway. EVP, general counsel, corporate secretary and EMEA leader John Stipancich has been named the interim CFO.
Stipancich has been with Newell Rubbermaid for 10 years and currently maintains responsibility for the company’s operations in Europe, the Middle East and Africa, as well as its global legal functions.
How to effectively use a customer loyalty program
Chicago — Ideas for loyalty in a competitive climate came fast and furious during an educational session here at the Orgill Fall Market.
The session, called "How to effectively use a customer loyalty program," was led by Theresa Neal, head of new business development for Eden Prairie, Minnesota-based Pro/Phase Marketing. The company’s RepeatRewards program has a business relationship with Orgill, providing a menu of real-time loyalty services.
While customer retention is the driving motivation behind loyalty programs, Neal explained early that the key to success is getting people to join. "Your competitors have a program," she said. "You need a program to keep them coming back."
There is no silver bullet for loyalty program success, but there is a long and growing list of best practices or tricks of the trade. Neal pointed to several:
• The plastic cards or key tags (28 centers per key tag) play a valuable role. They serve as advertisements in the wallet.
• A loyalty program doesn’t have to have a card. A phone number can be the key to track a customer.
• Birthdays are a huge opportunity for a marketing event (mail or e-mail).
• Take advantage of social media. "Here’s the thing about Facebook and Twitter — they are free."
Neal suggested that good programs give customers several options to sign up. She suggested a well-trafficked endcap of a high-volume product (window-washer fluid, for instance) with a conspicuous discount for loyalty-program members.
"You want the customers to say, ‘How can I become a member?’" she said.