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Customer Retention Through Advanced Data Driven Marketing - Windsor Circle & Artbeads eTail West 2015

You’ve managed to obtain an impressive amount of new customers, but how do you get them to come back for more? Not new news, retailers must focus on engaging customers with sophisticated personalized, predictive marketing to keep, and get more from, existing customers. Cortney Wright, VP of Marketing for Artbeads.com, a niche online arts & crafts jewelry retailer, joins the stage with Andrew Pearson from Windsor Circle to discuss how they use past purchase data and predictive marketing to drive 76% email open rates and 26.4% click rates. View this slideshare to learn how going beyond the normal welcome, thank you and recommendation emails based on predictive data science has increased both retention rates and overall revenue for Artbeads.com.

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Customer Retention Through Advanced Data Driven Marketing - Windsor Circle & Artbeads eTail West 2015

  1. 1. Cortney  Wright    |    Artbeads.com   Cortney  Wright   Vice  President   Artbeads.com   Gig  Harbor,  WA   IR  #  488  
  2. 2. Artbeads.com  Stocks  a  Wide  Variety  of  Products  
  3. 3. Artbeads.com  Stocks  a  Wide  Variety  of  Brands  
  4. 4. Andrew  Pearson   Windsor  Circle   VP  of  MarkeEng   @arjpearson   @windsorcircle   www.windsorcircle.com    
  5. 5.         Our  Agenda   Reten%on   Examples   Plan  
  6. 6. Repeat  buyers  =  8%  of  site  visitors,   but  41%  of  revenue  
  7. 7. Enterprise  Data  Feeds:   Data  updated  con%nuously  into   custom  fields  or  rela%onal  tables     in  your  email  so;ware   and  more   Guaranteed  eCommerce-­‐to-­‐ESP  Integra%ons:   and  more  
  8. 8. Ini%aliza%on Op%miza%on Reten%on  Automa%on Win  by: •  Volume •  Content •  Data Key  Metrics: •  List  Size   •  Send  Volume •  Opens   •  Clicks •  Conversions   •  Engaged  Subscribers   •  Churn Key  Ac%vi%es: •  Build  list   •  Send  frequently   •  Frequent  Sends   •  Content  CreaEon   •  Dashboard  and  ReporEng •  Contact  Strategy   •  RFM  Analysis   •  Market  Basket  Analysis   ESP  Selec%on: •  Cost •  BeTer  Feature  Sets   •  Cost   •  Integra%on   •  Segmenta%on   •  Automa%on   Segmenta%on: •  None •  Available  but  Limited •  Advanced   •  Purchase  history   •  Web  history   Automa%on: •  None •  None •  Post  Purchase  Welcome  Series   •  Win  Back  Campaigns   •  Cross  Merchandizing   •  Reviews   The  3  Stages  of  Email  MarkeEng  
  9. 9. Old School Marketing: A 1st Time Buyer’s Path Customer makes 1st purchase Receives a welcome email Receives mass- marketing emails Never makes a 2nd purchase, & unsubscribes Artbeads.com   Social   Events  Direct  Paid  Organic   Print   Email  Sign  Up  Welcome  Program   Welcome  #1   Welcome  #2   Welcome  #3   Welcome  #4   Email  Sign-­‐Up   Purchase  
  10. 10. Purchase   Marke%ng  Calendar   From  Welcome  to  Purchase  1  to  Purchase  2     Product   Category   Coupon   Reminder   Segmented  Promo%ons:   Welcome  #1   Welcome  #2   Welcome  #3   Welcome  #4  
  11. 11. Drive  Repeat   Buying  Behavior   Subject:   Remember  that  Card  in  Your  Last   Package?     Rules:   •  Sent  to  customers  who  ordered   in  the  previous  month   –  (they  received  this  physical  coupon   w/  prior  order)   •  Sent  just  before  coupon  expires     Drives  repeat  buying  
  12. 12. Purchase   Marke%ng  Calendar   From  Welcome  to  Purchase  1  to  Purchase  2     Product   Category   Coupon   Reminder   Segmented  Promo%ons:   Welcome  #1   Welcome  #2   Welcome  #3   Welcome  #3   Post  Purchase  #2   Post  Purchase  #3  Post  Purchase  #1  
  13. 13. Educate  about     the  Product   Launched  in  December  2014   76% 26.4% Open   Rates   Click   Rates   Rules:   •  Last  Order  contains  “Crimps”   •  X  Days  ader  Last  Order  Date  
  14. 14. Purchase   Marke%ng  Calendar   From  Welcome  to  Purchase  1  to  Purchase  2     Product   Category   Coupon   Reminder   Segmented  Promo%ons:   Cross  Sell   Welcome  #1   Welcome  #2   Welcome  #3   Welcome  #3   Post  Purchase  #2   Post  Purchase  #3  Post  Purchase  #1  
  15. 15. Make the Cross-Sell Launched  January  21,  2015   Rules:   •  Last  order  contains  “Product  X”   •  Y  days  ader  last  order   User  Generated  Content:     •  Quote,  images    
  16. 16. Purchase   Marke%ng  Calendar   From  Welcome  to  Purchase  1  to  Purchase  2     Product   Category   Coupon   Reminder   Segmented  Promo%ons:   Replenishment   Cross  Sell   Welcome  #1   Welcome  #2   Welcome  #3   Welcome  #3   Post  Purchase  #2   Post  Purchase  #3  Post  Purchase  #1  
  17. 17. Running  since  July  2013   53% 1% Open     Rates   Click     Rates   Replenish What’s out Rules:   •  Last  Order  contains  “ZambaPro  Jewelry  Wire”   •  X  Days  ader  Last  Order  Date   or   •  Y  Days  before  Predicted  Replenishment  Date  
  18. 18. Purchase   Marke%ng  Calendar   From  Welcome  to  Purchase  1  to  Purchase  2     Product   Category   Coupon   Reminder   Segmented  Promo%ons:   Replenishment   Birthday   Cross  Sell   Welcome  #1   Welcome  #2   Welcome  #3   Welcome  #3   Post  Purchase  #2   Post  Purchase  #3  Post  Purchase  #1  
  19. 19. Celebrate the Birthday Sent  each  year  if  we  have   a  birthday  recorded  for   the  customer   70.2% 14.6% Open     Rates   Click     Rates  
  20. 20. Purchase   Marke%ng  Calendar   From  Welcome  to  Purchase  1  to  Purchase  2     Product   Category   Coupon   Reminder   Segmented  Promo%ons:   Birthday   Replenishment   Anniversary   Cross  Sell   Welcome  #1   Welcome  #2   Welcome  #3   Welcome  #3   Post  Purchase  #2   Post  Purchase  #3  Post  Purchase  #1  
  21. 21. Remember the Anniversary Sent  each  year,  1  year  ader   first  purchase  date   •  Different  creaEve  each  year   •  Varying  thank  you  offers   Subject:   [FIRST  NAME],  an   anniversary  gid  just  for  you  
  22. 22. RFM  Segments   RFM   R1M1F1:  Best  Customers    RxFxM1:  Big  Spenders    R1F4M1:  New  Spenders   Purchase     RFM  Purchase   Marke%ng  Calendar   AutomaEc  SegmenEng  by  Customer  Score  
  23. 23. Reward     your  Best   Launched  in  December  2012   Subject:   FIRST  NAME,  You’re  the  Best     Rules:   •  Sent  2  weeks  ader  select  large   sales   •  To  “Best  Customers”  defined  by   Windsor  Circle  data   •  Who  did  NOT  order  during  the   big  sale   •  Includes  coupon  code  again   (new  coupon  code,  ex  20%  off)  
  24. 24. RFM  Segments   RFM   R1M1F1:  Best  Customers    RxFxM1:  Big  Spenders    R1F4M1:  New  Spenders   Win  Back  #1   Win  Back  #2   Win  Back  #3   R4F1M1:  Churning  Customers   Purchase     RFM  Purchase   Marke%ng  Calendar   AutomaEc  SegmenEng  by  Customer  Score  
  25. 25. Joe – Semi-Annual Buyer Welcome emails 1- 21 Cross Sell - Bails35 4 Post Purchase Education Product Replenishment135 Best Customer Coupon Reminder215 40 2nd purchase $140 – Bails, Chain 80 3rd purchase $50 – Jewelry Wire 140 4th purchase $120 - Refill on Wire 0 1st purchase $25 - Wire, Beads Days Welcome email 11 5 Welcome 2: Social Connection Coupon Reminder40 Marketing Calendar Marketing Calendar … 366 3rd purchase $205 – Swarovski Crystal How  Data  Can  Drive  Personalized  Lifecycle  Marke%ng   Survey110 Birthday Email67 365 Anniversary Email Welcome 3: Learning Center14 Welcome 4: Ways to Save21 46 2nd purchase $65 - Resin Days 0 1st purchase $240 –Swarovski Crystal Becky – Recommend & Reward!
  26. 26. Data Drives Results for Artbeads.com 0%   10%   20%   30%   40%   50%   60%   70%   80%   Open  Rate   Click  Rate   Non-WC All WC Product Education Replenishment Birthday 57.5% Open Rate 5.6% Click Rate Automated, Personalized Standard Promotions 20.3% Open Rate 4.1% Click Rate + 183% Increase in Opens + 37% Increase in Clicks
  27. 27. 9  Pillars  of  Customer  RetenEon   ANALYZE CONNECT THANK REWARD GET MORE WIN BACKEVANGELIZE LISTEN ACQUIRE
  28. 28. APPENDIX  
  29. 29. 34   Retention, Perfectly Brewed How CoffeeForLess makes $1MM+ a year from Data-Driven Lifecycle Emails
  30. 30. 35   Retention, Perfectly Brewed Working Person’s Store makes over $1MM a year by personalizing product recommendation emails Heavy Duty Personalization
  31. 31. 36   Smooth Segmentation SkinMedix sees over 50x ROI by segmenting weekly emails and automating customer retention
  32. 32. 37   MILLION DOLLAR CIRCLE Driving Real ROI from Retention Automation 50x  ROI   Congratulations to these 3 retailers making over $1MM a year from Retention Automation 66%   125%   increase  in   opens   increase  in   clicks   3x  the  opens  
  33. 33. 38   Download the Case Studies Today www.windsorcircle.com/onemillion
  34. 34. 39   How-To Guides Windsorcircle.com/resources#how-­‐to-­‐guides  

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You’ve managed to obtain an impressive amount of new customers, but how do you get them to come back for more? Not new news, retailers must focus on engaging customers with sophisticated personalized, predictive marketing to keep, and get more from, existing customers. Cortney Wright, VP of Marketing for Artbeads.com, a niche online arts & crafts jewelry retailer, joins the stage with Andrew Pearson from Windsor Circle to discuss how they use past purchase data and predictive marketing to drive 76% email open rates and 26.4% click rates. View this slideshare to learn how going beyond the normal welcome, thank you and recommendation emails based on predictive data science has increased both retention rates and overall revenue for Artbeads.com.

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