Lifecycle Marketing Series: Retention Campaigns & Personas

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

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


•  Win-Back emails are a great way to remind customers about your brand and the value you provide.

Win-Back



By The Numbers

Win-Back



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



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


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


Cart Recovery


By The Numbers•  65% average shopping cart abandonment


Cart Recovery


By The Numbers•  65% average shopping cart abandonment•  $4 trillion worth of lost merchandise a year


Cart Recovery


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


Regular Series •  Email 1

–  A few hours after–  No discount

•  Email 2 –  ~ 3 days after

–  Discount offer



Cart Recovery








Anti-gaming Series •  Email 1



–  No discount


–  No discount

Cart Recovery








Anti-gaming Series •  Email 1



–  No discount


–  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


•  Powerful driver of repeat business, as well as customer loyalty, retention, and consistent revenue





By The Numbers




By The Numbers

•  7% lift in conversion rate




By The Numbers

•  7% lift in conversion rate•  10% lift in orders




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.



•  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.



http://citygro.com/mind-blow-ing-loyalty-and-marketing-stats/

Best Customer

By The Numbers

•  80% of revenue driven by best customers, on average





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





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

Lifecycle Marketing Series: Retention Campaigns & Personas

Marketing

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