Post on 20-Jan-2017
transcript
Lifecycle Marketing
Webinar Series Phase 3: Retention
Today’s Agenda
• Quick Review: Lifecycle Marketing
• Retention Personas & Campaigns
o Win-Back Series
o Cart Recovery
o Automated Product Replenishment
o Best Customer Series
Windsor Circle in 90 Seconds
Predictive Lifecycle & Retention Marketing
Browse Abandonment
Cart Recovery
Segmenting Customer Behavior
Post Purchase Programs
Replenishment Automation
Analytics
Grow Customer Value
REPLENISH TRACK
Behavioral Marketing
RETAIN RECOVER
Retention Marketing
CONNECT ANALYZE
SEGMENT PREDICT
Predictive Marketing
Marketing campaigns that address different customer needs as they progress in their relationship with a brand
What Is Lifecycle Marketing?
Purchase
Retention
Post Purchase
Pre-Purchase
What Is Lifecycle Marketing?
Pre-Purchase Post Purchase Retention
Browse Abandonment First Purchase Win-Back
Welcome Series Product Education Cart Recovery
Segmented Promotions Product Replenishment
Best Customer Series
Lifecycle email marketing was found to increase campaign performance, subscriber engagement and customer satisfaction.
Why Lifecycle Marketing?
http://www.marketingtechblog.com/infographic-the-ecosystem-of-lifecycle-marketing/marketing-lifecycling-mod3-2/
55%
67%
56%
Campaign Performance Subscriber Engagement Customer Satisfcation
Through lifecycle marketing, our clients are seeing:
• a 20% increase in CLV year-over-year
• an average retention rate lift of 17%
• and 10x ROI
Why Lifecycle Marketing?
Meet the Personas
Meet the Personas
Campaign 1 Win-Back Series
Meet Disappearing Desmond
Attributes:
• Bought from your store, but it’s been months since you’ve seen him. He’s a high churn risk!
Earn Their Loyalty:
• Win him back with a win-back series. With the right message he may come around to purchase again.
Win-Back
• Churn occurs during the inactive stage of the lifecycle, when a customer ceases to purchase from you or engage with your brand.
Win-Back
• Churn occurs during the inactive stage of the lifecycle, when a customer ceases to purchase from you or engage with your brand.
• Win-Back emails are a great way to remind customers about your brand and the value you provide.
Win-Back
• Churn occurs during the inactive stage of the lifecycle, when a customer ceases to purchase from you or engage with your brand.
• Win-Back emails are a great way to remind customers about your brand and the value you provide.
By The Numbers
Win-Back
• Churn occurs during the inactive stage of the lifecycle, when a customer ceases to purchase from you or engage with your brand.
• Win-Back emails are a great way to remind customers about your brand and the value you provide.
www.bain.com/Images/Value_online_customer_loyalty_you_capture.pdf
By The Numbers
• It costs 6x – 7x more to acquire a new customer
Win-Back
• Churn occurs during the inactive stage of the lifecycle, when a customer ceases to purchase from you or engage with your brand.
• Win-Back emails are a great way to remind customers about your brand and the value you provide.
By The Numbers
• It costs 6x – 7x more to acquire a new customer• Industry seeing 12% open rates, with 45% of readers
opening subsequent messages
www.bain.com/Images/Value_online_customer_loyalty_you_capture.pdf
http://www.slideshare.net/re-turn_path/how-to-master-the-email-winback-campaign
Win-Back Email Example
• Segmented by purchase frequency
– 1x – 2x buyers (static date)
– 3+ buyers (predictive date)
• Shows appreciation for past purchases
• Uses incentive • Clever imagery and messaging
Win-Back Email Example
• Highlights some of their most popular products to remind inactive customers what they’re missing
• Uses a celebrity endorsement by a professional soccer player to show the value & quality of their products
• Offers a discount to further motivate the customer to make another purchase
Tip 1
Tip 2
Win-Back Email Tips
Be clear with your customers – you miss them. Make sure the subject line and the content of the email makes this very clear.
Make shopping easy for your customers. Include product recommendations in your emails based on their purchase history.
Campaign 2 Cart Recovery Series
Meet Coupon Christie
Attributes:
• On a quest to find great deals. Never pays full price and always compares prices across retailers
Earn Their Loyalty:
• Cart recovery email series with anti-gaming
• Most effective solution for alleviating shopping cart abandonment.
Cart Recovery
• Most effective solution for alleviating shopping cart abandonment.
Cart Recovery
www.businessinsider.com/heres-how-retailers-can-reduce-shopping-cart-abandonment-and-recoup-billions-of-dollars-in-lost-sales-2014-4
By The Numbers
• Most effective solution for alleviating shopping cart abandonment.
Cart Recovery
www.businessinsider.com/heres-how-retailers-can-reduce-shopping-cart-abandonment-and-recoup-billions-of-dollars-in-lost-sales-2014-4
By The Numbers• 65% average shopping cart abandonment
• Most effective solution for alleviating shopping cart abandonment.
Cart Recovery
www.businessinsider.com/heres-how-retailers-can-reduce-shopping-cart-abandonment-and-recoup-billions-of-dollars-in-lost-sales-2014-4
By The Numbers• 65% average shopping cart abandonment• $4 trillion worth of lost merchandise a year
• Most effective solution for alleviating shopping cart abandonment.
Cart Recovery
www.businessinsider.com/heres-how-retailers-can-reduce-shopping-cart-abandonment-and-recoup-billions-of-dollars-in-lost-sales-2014-4
By The Numbers• 65% average shopping cart abandonment• $4 trillion worth of lost merchandise a year• Our clients see up to 15% recovery rates
Cart Recovery
Recommended Set Up – 7 total emails (3 series)
Cart Recovery
Recommended Set Up – 7 total emails (3 series)
Regular Series • Email 1
– A few hours after– No discount
• Email 2 – ~ 3 days after
– Discount offer
• Email 3 – ~ 7 days after
– Discount offer
Cart Recovery
Recommended Set Up – 7 total emails (3 series)
Regular Series • Email 1
– A few hours after– No discount
• Email 2 – ~ 3 days after
– Discount offer
• Email 3 – ~ 7 days after
– Discount offer
Anti-gaming Series • Email 1
– A few hours after– No discount
• Email 2 – ~ 3 days after
– No discount
• Email 3 – ~ 7 days after
– No discount
Cart Recovery
Recommended Set Up – 7 total emails (3 series)
Regular Series • Email 1
– A few hours after– No discount
• Email 2 – ~ 3 days after
– Discount offer
• Email 3 – ~ 7 days after
– Discount offer
Anti-gaming Series • Email 1
– A few hours after– No discount
• Email 2 – ~ 3 days after
– No discount
• Email 3 – ~ 7 days after
– No discount
Third Series – put something in their cart and then removes it• 1 email that is customer service based
Cart Recovery Email Example
• No incentive, but rather asks if the customer needs help completing their order
• Shows image of abandoned product with a link to complete the purchase
• Responsible for nearly 50% of their revenue from lifecycle marketing
Cart Recovery Email Example
• Offers a discount incentive in the last email of the cart recovery series
• Employs anti-gaming technology to ensure that customers who repeatedly abandon their carts do not receive the incentive.
• Highlights the company’s tech support, in case customers need any assistance with completing their orders
Tip 1
Tip 2
Cart Recovery Email Tips
Combine cart recovery messages with product recommendations of items similar to, or often purchased with, the product left in the shopping cart.
Only include incentives, like a discount or free shipping, in the last email in your cart recovery series.
Campaign 3 Automated Product Replenishment
Meet Repeat Pete
Attributes:
• Buyer of consumable goods
Earn Their Loyalty:
• Keep Pete well-stocked with automated product emails and he’ll stay a loyal customer
• Great way to continue an ongoing relationship with customers
Automated Product Replenishment
• Great way to continue an ongoing relationship with customers
• Powerful driver of repeat business, as well as customer loyalty, retention, and consistent revenue
Automated Product Replenishment
• Great way to continue an ongoing relationship with customers
• Powerful driver of repeat business, as well as customer loyalty, retention, and consistent revenue
Automated Product Replenishment
By The Numbers
• Great way to continue an ongoing relationship with customers
• Powerful driver of repeat business, as well as customer loyalty, retention, and consistent revenue
Automated Product Replenishment
By The Numbers
• 7% lift in conversion rate
• Great way to continue an ongoing relationship with customers
• Powerful driver of repeat business, as well as customer loyalty, retention, and consistent revenue
Automated Product Replenishment
By The Numbers
• 7% lift in conversion rate• 10% lift in orders
• Great way to continue an ongoing relationship with customers
• Powerful driver of repeat business, as well as customer loyalty, retention, and consistent revenue
Automated Product Replenishment
By The Numbers
• 7% lift in conversion rate• 10% lift in orders• $1.03 RPE (9x the industry average for email)
Replenishment Email Example
• Triggered based on the usage rate of the purchased item
• Sent one week before the anticipated replenishment date, with a follow-up sent the day before the replenishment date
• Features the replenishable item with a buy button leading to that product’s webpage, to streamline the reordering process
Replenishment Email Example
• F o r c u s t o m e r s w h o h a v e purchased 3+ times
• Triggered by predicted order date, an algorithm that looks for patterns in a customer’s buying behavior
• Asks the customer for feedback by suggesting they to write a review of the product
Tip 1
Tip 2
Replenishment Email Tips
Include product names in the subject line so it’s clear what item needs to be refilled.
Replenishment emails usually have high engagement rates. U s e t h i s o p p o r t u n i t y t o showcase static or seasonal product recommendations.
Campaign 4 Best Customer Series
Meet Cheerleader Cheryl
Attributes:
• Loyal and consistent, brand evangelist
Keep Their Loyalty:
• Reward Cheryl for being an awesome customer with personalized, best customer messages, special promotions, and exclusive offers.
Best Customer • WHO? The small group that are most valuable to
you over time based on frequent purchases with large order values.
Best Customer • WHO? The small group that are most valuable to
you over time based on frequent purchases with large order values.
• WHAT? There are many ways to reward your best customers, such as special discounts, VIP experiences, and exclusive events.
Best Customer • WHO? The small group that are most valuable to
you over time based on frequent purchases with large order values.
• WHAT? There are many ways to reward your best customers, such as special discounts, VIP experiences, and exclusive events.
• WHY? Retailers who are strategic in offering discounts will save higher markdowns and related promotions for only their best customers, yielding great results.
Best Customer
By The Numbers
• WHO? The small group that are most valuable to you over time based on frequent purchases with large order values.
• WHAT? There are many ways to reward your best customers, such as special discounts, VIP experiences, and exclusive events.
• WHY? Retailers who are strategic in offering discounts will save higher markdowns and related promotions for only their best customers, yielding great results.
http://citygro.com/mind-blow-ing-loyalty-and-marketing-stats/
Best Customer
By The Numbers
• 80% of revenue driven by best customers, on average
• WHO? The small group that are most valuable to you over time based on frequent purchases with large order values.
• WHAT? There are many ways to reward your best customers, such as special discounts, VIP experiences, and exclusive events.
• WHY? Retailers who are strategic in offering discounts will save higher markdowns and related promotions for only their best customers, yielding great results.
http://citygro.com/mind-blow-ing-loyalty-and-marketing-stats/
Best Customer
By The Numbers
• 80% of revenue driven by best customers, on average• 77% of customers are more likely to buy a product when they heard
about it from family or friends
• WHO? The small group that are most valuable to you over time based on frequent purchases with large order values.
• WHAT? There are many ways to reward your best customers, such as special discounts, VIP experiences, and exclusive events.
• WHY? Retailers who are strategic in offering discounts will save higher markdowns and related promotions for only their best customers, yielding great results.
http://citygro.com/mind-blow-ing-loyalty-and-marketing-stats/
Best Customer Email Example
• Offers an exclusive discount
• This email was sent twice, an initial email and then a re-email two days later to customers who hadn’t opened it
• Suggests customers further engage with the brand on social media or writing a product review
Best Customer Email Example
• Provides an exclusive discount only for best customers
• Personalized to include the c u s t o m e r ’ s fi r s t n a m e personalization & the last item they bought
• O f f e r s d y n a m i c p r o d u c t recommendations based on the customer’s last purchase
Tip 1
Tip 2
Best Customer Email Tips
Think long term loyalty! How does your campaign foster this?
When it comes to incentives, think beyond discounts. For example, you could offer free gifts, invitations to special events, early access to new products, or more.
Questions?
Resources
Lifecycle Marketing Guide
WindsorCircle.com/LifecycleGuide
Customer Lifetime Value Game
www.GuestToBest.com