Predicting Future Purchases - Create a more efficient acquisition strategy
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Part 2 of our eCommerce Mastermind Workshop looks at how retailers can use predictive data to create omnichannel campaigns, retain more acquired customers, and create a more efficient acquisition funnel.
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Predicting Future Purchases - Create a more efficient acquisition strategy
- 2. Agenda • Intro • Keeping Newly Acquired Customers – Weaving Your Acquisition and Retention Strategy Together • Leveraging Predictive Data Across Platforms to Reinforce Acquisition and Retention Strategies
- 3. Who We Are
- 6. Keeping Your Newly Acquired Customers
- 8. By the Numbers $0 $50 $100 $150 $200 $250 $300 $350 1 2 3 CustomerLifetimeValue($) Number of Purchases
- 9. Making the Case For Predictive Lifecycle Marketing • Cross Device Shopping – 70% of consumers stated they personally used three or more devices • Personalized Touch is Expected – 23% of consumers expect ads to be tailored to the content their viewing – 59% want promotions for items they’re considering – 43% want reminders to order items they might have run out of and need to be refilled
- 10. Getting Started Can be Hard eCommerce marketer’s face a number of challenges: Getting Access to the Right Data Knowing What to do With the Data Time & Resources
- 11. Steps to Getting Started 1. Partner with the right people 2. Create 90 Day Plan 3. Collect Onsite Data 4. Test, Test, & Test Some More Depending on what other initiatives you have in the pipe, find a partner who works with your tech stack. Start with the low hanging fruit – replenishment for consumables, cart recovery, browse abandonment, predictive win-back Make sure to collect onsite data to ensure you’re getting the whole view of your customer base. Once you’ve selected and implemented your campaigns, you’ll want to test and iterate.
- 12. Weaving Your Acquisition & Retention Strategy Together
- 13. The Old Way | Anna’s Buying Path Clicks on Google Ad Lands on WindsorCircle.com Visits Site Visits Site Visits Site Receives Newsletter Receives Newsletter Receives Newsletter Visits Site Web search for product & buys from another vendor No purchase or email capture No purchase or email capture No purchase or email capture Signs up for newsletter Doesn’t see product or promotion on homepage
- 14. Challenge: Make Every Click more Meaningful Lifecycle marketing (with data) and dynamic email content Email capture and personalized content Pinpoint your best customers, understand how they buy, and target like prospects Onsite Engagement Email Engagement Acquiring the Right Prospects Keeping the Right Customers Retargeting, best customer, key promotions, VIP, etc.
- 15. Remember Anna? Clicks on Google Ad Lands on WindsorCircle.com Visits Product Page Site browsing data added to profile Adds item to cart & leaves Returns to site and completes purchase
- 16. Goals with Predictive Lifecycle Marketing • Bring down the CAC • Find high-value customers • Hone in your customer’s buying lifecycle • Create evangelists
- 17. Leveraging Data across Platforms
- 18. How to Go Omnichannel • Take steps to creating a seamless, personalized approach across multiple platforms • Use product, purchase, and customer data to inform. – Retargeting – Lookalike campaigns – Display advertising – PPC – Direct mail – Sales call lists It all starts with data.
- 19. Resources: www.WindsorCircle.com/omni-channel Key Campaigns to Run Today Predictive Customer Value Module
- 20. Questions?