Cnx2014 breakouts-industry trendsetters-windsor-circle-surfstitch-v7
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Transcript of Cnx2014 breakouts-industry trendsetters-windsor-circle-surfstitch-v7
Track: Industry Trendsetters
#CNX14
#CNX14
Automating a Wave of Engagement
Tamara Falcke, Email Channel Manager, SurfStitch
Andrew Pearson, VP of Marketing, Windsor Circle
Track: Industry Trendsetters
#CNX14
Track: Industry Trendsetters
#CNX14
Automating a Wave of Engagement
40%Increase in Open Rates
65%Increase in Click Rates
72%Decrease in
Churn
Track: Industry Trendsetters
#CNX14
Tamara Falcke @tamarafalcke
• From Queensland, Australia• Communication Design @ Griffith
University• Email Channel Manager, SurfStitch• Largest Australian Boardsports &
Fashion Pure-play Retailer with sights set on global domination
• Data-driven decisions & customer-centric reasoning
• Related to the inventor of Vegemite
Track: Industry Trendsetters
#CNX14
Andrew Pearson @arjpearson
• From Canberra, Australia• MBA from UNC Kenan-Flagler• VP of Marketing, Windsor Circle• Lives in Durham, NC, the “Center of
the Retention Automation Universe”• Loves the power of data-science,
automation, and creative• $6.25MM Series B• Vegemite really is amazing
Track: Industry Trendsetters
#CNX14
Track: Industry Trendsetters
#CNX14
2011 Best Pure Play Online Retailer2011 Best Use of Technology 2012 Online Retailer of the Year2012 Best Pure Play Online Retailer2012 Best Site Optimization and Design
2014 Best Pure-Play Online Retailer!
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“SurfStitch wins over its customers with stunning visual imagery, exceptional customer service
and seamless fulfilment”- ORIAS Awards
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Surf’s Up!
1 2 3
Challenges & Goals
Digesting the Data
Campaigns that Work
Track: Industry Trendsetters
#CNX14
Track: Industry Trendsetters
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Surf’s Up!
1) Download the Case Study:
windsorcircle.com/surf
2) Tweet an insight!Prizes:
$250SurfStitchGift Card
$100Gift
Card
@WindsorCircle
@SurfStitch
@ExactTarget
#CNX14
Track: Industry Trendsetters
#CNX14
Track: Industry Trendsetters
#CNX14
Additional screenshots from website (2-3)
Track: Industry Trendsetters
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Additional screenshots from website (2-3)
Track: Industry Trendsetters
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Additional screenshots from website (2-3)
Track: Industry Trendsetters
#CNX14
• Australia’s #1 Online Surf & Fashion Retailer• Global headquarters on the Gold Coast,
Queensland• Recently bought back Billabong’s
shareholdings• Acquired Swell.com, leading US Surf retailer,
& announced consolidation of the global business
• Winner of multiple ORIAS Awards
Track: Industry Trendsetters
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windsorcircle.com/surf
Track: Industry Trendsetters
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Track: Industry Trendsetters
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Data-Driven Marketing:Customer retention-oriented marketing approach using customer data, and especially customer behavior, to determine the targeting, timing, and content of marketing promotions.
– Jim Novo, Author
Track: Industry Trendsetters
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Vision: Make data-led decisions to optimize every subscriber’s and customer’s email journey
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Multi-Stage Automated Welcome
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Predictive Win-Back for At-Risk Subscribers and Churning Customers
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Making the Business Case for Automation
• ROI of repeat buyers
• Understanding size and opportunity of 1 time vs 2+ time purchasers.
• Personalization of Journey
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Getting the Right Technology in Play
ExactTarget• Powerful marketing platform• Tools to segment, test,
automate
Windsor Circle• Reliable data integration• Meaningful data insights• Making the data actionable
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Be Accountable
• Make someone in charge of retention & automation
• Map the lifecycle
• Budget for retention
• Set Goals & KPIs
Track: Industry Trendsetters
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Track: Industry Trendsetters
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How do you get started?
By Getting Started!
Start Small, Dream Big.
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Keep it Simple
• How do you do the “extra work” of setting up automation?• Get 1 automated program
live each month• Gives time to evaluate results
• Low hanging fruit:• Welcome program• Win back campaigns
Track: Industry Trendsetters
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#CNX14
Integration Data Science Automation Retention ROI
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What % of your customers are only shopping once?
How many times do you need them to shop before they become profitable?
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Repeat Buyers are Highly Valuable
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Key Segments in Windsor Circle Dashboard
* Sample Data Only
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Latency (Days Between Purchases)
Average Days Between Purchases
* Sample Data Only
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Data updated nightly to custom fields or data extensions in ExactTarget
Plus Custom, In-House, & Virtually Any Other Data Source
Track: Industry Trendsetters
#CNX14PLACEHOLDER SCREEN
Pre-packaged Integrations & Enterprise Grade Data Feeds
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Repeat Buyer Revenue, Latency, & CLV
Q1 Q2 Q3 Q4% Repeat customers (all time) 35% 34% 37% 38%% Revenue from repeat customers (all time) 70% 65% 70% 72%% Repeat customers shopping in 2014 50% 51% 52% 54%% Revenue from repeat customers 2014 71% 70% 71% 75%Median latency 2014 (repeat buyers) - days 64 66 67 68Average latency 2014 (repeat buyers) - days 180 185 190 193Median CLV 2014 (repeat customers) $230 $208 $210 $240
* Sample Data Only
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Number and Percent by Key Segment
Q1 Q2 Q3 Q4New 1x Shoppers 12,400 14,821 13,880 31,789 New customers % 3% 4% 3% 7%Existing customers 380,100 392,500 407,321 421,201 Existing customers % 97% 96% 97% 93%Churning Customers 4,002 5,780 3,790 2,678 Churning Customers % 1% 1% 1% 1%Retained (3x) Customers 137,375 138,489 155,844 172,136 Retained (3x) Customers % 35% 34% 37% 38%Total customers 392,500 407,321 421,201 452,990
* Sample Data Only
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Weekly Tracking of Key Segment Metrics
Week 1 1x Shoppers 2x Repeat Buyers
3x Retained Customers Total
No. Customers who shopped in week 1,672 250 109 2,031% Customers who shopped in week 82% 12% 5% 100%Revenue from Segment $100,320 $17,500 $11,881 $129,701 % Revenue 77% 13% 9% 100% AOV (median) $54 $62 $85 $58 CLV (median) $55 $186 $759 $520
* Sample Data Only
Track: Industry Trendsetters
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Beginning of life: • Multi-stage welcome
End of life: Win-Back• Treat subscribers differently depending on value• Only incentivise those we really want back
Other Data-Driven Comms:• Order inclusions• Gifts• Push messaging• Loyalty programIn between
• Deliver regular branded content• Segment by key drivers (gender, # of purchases, AOV)• Ramp up comms around predicted purchase period• Results overview
Data Driven Programs
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A Warm Welcome
43%8%
OpenRate
ClickRate
The welcome series was the most crucial automation to get live and right as there is no better time to sell yourself to a customer than at that first touch.
“”
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While the subject lines for the new subscriber and new customer emails vary, the body content does not. SurfStitch saw 1.6x the opens and 2x the clicks from employing this multi-email welcome series.
Track: Industry Trendsetters
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Track: Industry Trendsetters
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Track: Industry Trendsetters
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Saving At-Risk and Disengaged Subscribers, Churning Customers.
72%DecreaseIn Churn over 6 month period
Track: Industry Trendsetters
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Track: Industry Trendsetters
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The Logic of Winning Back Customers
1 month after Predicted Order Date
OR
4 months after most Recent Purchase Date if no Predicted Order Date
“AND” “OR” Logic in ExactTarget to create Win Back Segment
NA
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Win Back Email 1
4 mo after last purchase
OR
1 mo after predicted order date
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Win Back Email 2
8 mo after last purchase
OR
5 mo after predicted order date
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Win Back Email 3
Sent 12 mo after last purchase to customers who have shopped 2+ times
OR
9 mo after predicted order date
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40%
65%
HigherOpenRate
HigherClickRate
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Ride the Wave!
1 2 3
Challenges & Goals• Actionable Data• Unique Journey• Retain Subscribers
& Customers
Digesting the Data• Monitor Key Metrics• Set Rules Based on
Analytics
Campaigns that Work• 4-Part Welcome• Post-Purchase• Data-Driven• Win-Back
Track: Industry Trendsetters
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Track: Industry Trendsetters
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Thank you!
@windsorcircle @arjpearson
@surfstitch @tamarafalcke
Track: Industry Trendsetters
#CNX14
CUSTOMER JOURNEY SHOWCASE
MARKETING THOUGHT LEADERS
EMAIL MARKETING PRODUCT STRATEGY& ROADMAP
PERSONAL TRANSFORMATION
& GROWTH
SOCIAL MARKETING MOBILE & WEB MARKETING
DEVELOPERS HANDS-ON TRAINING
INDUSTRY TRENDSETTERS
CREATIVITY & INNOVATION
SALESFORCE FOR MARKETERS
ROUNDTABLES