5 ways to convert holiday shoppers into loyal customers

24
Presented by: zaius.com FROM ACQUISITION TO RETENTION: TURNING FIRST TIME BUYERS INTO REPEAT CUSTOMERS 5 WAYS TO CONVERT HOLIDAY SHOPPERS INTO LOYAL CUSTOMERS

Upload: cpc-strategy

Post on 14-Jan-2017

90 views

Category:

Retail


1 download

TRANSCRIPT

Presented by:

zaius.com

FROM ACQUISITION TO RETENTION:

TURNING FIRST TIME BUYERS INTO REPEAT CUSTOMERS

5 WAYS TO CONVERT HOLIDAY SHOPPERS INTO LOYAL CUSTOMERS

Join the Conversation: Submit questions and thoughts:

Live Q&A at the end of the presentation

Session Recording Will Be Sent out 10/21/16

EVENT LOGISTICS

Event Coordinator:

Nick CotterMarketing Operations Coordinator

ABOUT THE PRESENTER

Eric Keating, VP of Marketing at Zaius

Zaius empowers marketers to drive repeat purchases and maximize customer lifetime revenue by unifying marketing attribution and execution across all channels.

#HolidayLoyalty

HOW ARE THEY DOING IT?Zaius empowers marketers to optimize for business outcomes and customer growth, not just campaign performance

THE OLD WAY: CHANNEL MARKETING METRICS

THE NEW WAY: CUSTOMER MARKETING METRICS

vs

Opens

Clicks

Visits

Conversions

Customer Lifetime Revenue

Average Order Value

New Purchasers

New Repeat Purchasers

New Loyal Customers

First Time Purchase %

First Purchase to Repeat %

Repeat Purchase to Loyal %

WHAT WE’LL COVER

1. The Situation Today

2. The Single Most Important Purchase

3. 5 Ways to Convert Holiday Shoppers into Loyal Customers

4. Q&A

Follow @getzaius on Twitter for real-time webinar updates, and tweet us your questions using the hashtag #HolidayLoyalty

2016 HOLIDAY FORECAST

*NRF 2016 Holiday Forecast

3.6% GROWTHin November and December*

7-10% INCREASE in non-store sales (as much as $117B)*

2015 HOLIDAY REVIEW

YEAR-OVER-YEAR GROWTH

3.1% OVERALLOverall growth in online holiday shopping

2X SMARTPHONE SALESSmartphone sales alone nearly doubled

THE HOLIDAYS ARE CRITICAL

74% of retailers say that 20% or more of annual sales occur

during the holiday season*

Retailers see up to 40% of annual revenue exclusively from holiday sales**

*ChannelAdvisor 2015 Online Retail Survey**NRF 2013 Holiday Survival Kit

MORE THAN 80%OF YOUR HOLIDAY SHOPPERS WILL NOTMAKE A SECOND PURCHASE IN 2017

#HolidayLoyalty

20% of first time buyers make a second purchase.

45% of repeat buyers make a third purchase.

Nearly 60% of 3rd time buyers make a fourth.

100k

YOU’RE LEAVING REVENUE ON THE TABLE

9k

20k

5.4k

#HolidayLoyalty

THE MOST IMPORTANT PURCHASEIS THE SECOND PURCHASE

#HolidayLoyalty

THE MOST IMPORTANT PURCHASEThe key to driving customer loyalty is your ability to persuade

one-time shoppers to purchase just one more time.

5 WAYS TO CONVERT HOLIDAY SHOPPERSINTO LOYAL CUSTOMERS

With all of the excitement about the 2016 holiday season, the number one thing you should be focused on is how to maximize the lifetime value of those customers.

I1. USE INSIGHTS FROM LAST HOLIDAY SEASON

Don’t start from scratch! Use 2015 customer analytics to make smarter 2016 decisions.

❏ Which product categories did customers cross-shop?

❏ Which campaigns drove repeat purchases last year?

❏ Which channels most effectively re-engaged holiday shoppers?

3/4 shoppers will spend as much or more this holiday season as last year

22. EXPAND YOUR OUTREACH TO SOCIAL AND SEARCH

Holiday shoppers may not be receptive to email, mobile push, SMS, etc...

Leverage Facebook Custom Audience and Google Customer Match for highly targeted and relevant advertising.

1. Segment your customers by # of purchases2. Export & upload list to Facebook or Google3. Create your ad campaign using your

defined audience

22. EXPAND YOUR OUTREACH TO SOCIAL AND SEARCH

22. EXPAND YOUR OUTREACH TO SOCIAL AND SEARCH

Notes:❏ Facebook Custom Audience can also be

used for targeting Instagram ads❏ Google Customer Match is applicable to

paid search, Gmail ads, and Youtube ads

Tip: Try “look-a-like” audiences for more effectiveacquisition campaigns

33. INTRODUCE BROWSE ABANDONMENT CAMPAIGNS

When you collect browsing data, you can understand which items customers are interested in other than the one they purchased.

❏ Also known as PDP (product detail page) abandonment

❏ Extremely effective at driving repeat purchases

❏ Can drive first purchase (if you’ve already gathered contact info)

33. INTRODUCE BROWSE ABANDONMENT CAMPAIGNS

Ask yourself: How many times, when shopping for other people, have you done a little personal shopping on the side?

❏ ‘Shopper B’ is a customer who is trying to purchase a jacket for his wife for Christmas, but who also browses men’s jackets for himself.

44. ADJUST YOUR INCENTIVES PROGRAM

❏ Incentivize incremental spend increases

❏ Gift with purchase❏ Loyalty program❏ X% off your next purchase❏ Discount with email capture❏ Incentive early purchases (expedite

shipping, discount)❏ Clear return policy

55. PUT IT ALL TOGETHER

Create a campaign that leverages all tactics we learned today.

1. Create a segment of your one-time purchasers from Nov/Dec.

2. Use browse abandonment data to prioritize which content to show each customer.

3. Coordinate campaigns across multiple channels and devices.

4. If no purchase, follow-up with a second multi-channel campaign.

ONE MORE THING...

Don’t forget to appeal to the gift recipient!

Try:❏ Including discount coupons❏ Repeat purchase incentives

KEY TAKEAWAYS

1. Understand customer behavior patterns from the previous year.

2. Consider search and social media advertising for targeted messaging.

3. Browse abandonment (PDP) campaigns provide relevant behavioral context for your customers.

4. Implement incentives programs to drive increased AOV and brand favorability.

5. Leverage each step to grow your total “Repeat Purchasers” segment.

#HolidayLoyalty

Presented by:

zaius.com

Q&AThanks for joining the webinar!

#HolidayLoyalty