Get Loyal Customers Faster : Try This! 🛍️📈
#HTE 314 -Strategies, examples, and much more!
Hey there, marketing maestros! 😎
Ready to turn your e-commerce hustle into a customer loyalty powerhouse? We've got some killer strategies lined up for you today. Imagine an 8-touch advanced post-purchase workflow that turns one-time buyers into lifelong fans. Or maybe you’re curious about how to measure Customer Lifetime Value with segment analytics—it's easier than you think! 🙌
And let's not forget the magic of lifecycle marketing—trust us, it’s a game-changer. Dive in and let's take your e-commerce game from good to unbeatable.
Let’s do this! 🚀💥
Try This 8-Touch Advanced Post-Purchase Workflow for E-commerce (That Builds Loyalty)
How to Measure Customer Lifetime Value With Segment Analytics 🙌
5 Solid Reasons to Shift Your Focus to Lifecycle Marketing
Brand of the Week✨
📰 Top Reads - Real-time news right for you. 📰
🔥 HTE Job Board- Get Your Dream Job With A Click! 🔥
Try This 8-Touch Advanced Post-Purchase Workflow for E-commerce (That Builds Loyalty)
Email #1: Order Confirmation Emails
Order confirmations are the crown jewels of the transactional email world, with impressive average open rates of 58+ percent.
Clearly, they’re not predominantly a marketing email. Customers expect order confirmation emails to contain important information like:
The product(s) they ordered
The order price
The shipping method and the address
But provided you give them all those essentials, there’s nothing to stop you from adding a little flair to your order confirmations.
In my first example, razor subscription company Estrid makes the customer feel good about their purchase by explaining that a portion of the sale goes to the brand’s charity partners:
What better way to guard against buyer’s remorse than telling customers that their actions will help support a good cause or two?
Email #2: Shipping Confirmation Emails
Customers anxiously await shipping confirmation after a seamless purchase. Leverage high open rates of transactional emails like Glossier, sparking excitement with an effective copy to boost marketing efforts.
Email #3: Delivery Confirmation Emails
Transactional emails confirm successful delivery and offer a chance for issue reporting. Utilize them, as shown by Bloom & Wild, to set expectations and reduce support queries. Transitioning to the marketing email sequence, focus on delighting customers for reviews, recommendations, and additional purchases.
These emails are all about delighting the customer by providing tons of added value and (hopefully) encouraging them to:
Write a review
Recommend you to friends and family
Buy more stuff
Email #4: Send a Thank You Email
Think of thank you emails as a halfway house between transactional and marketing emails.
On one hand, they provide the type of basic info you’d expect from a transactional email, such as a brief summary of the customer’s purchase.
Canadian pet supplies retailer Homes Alive shows us how that looks:
But this isn’t just another transactional email, because it also shares a little of Homes Alive’s brand story — kind of like you’d get in a welcome email:
Email #5: Request a Product Review
Leverage the importance of online reviews, especially for unfamiliar brands, as 93% of consumers read them before purchasing. Timing is crucial—ask for reviews just after product delivery when customers are excited. Remind them of product benefits to ease the review-writing process. Example: Evergreen applauds customers for prioritizing health with its organic wheatgrass juice, encouraging them to share their journey.
Email #6: Share Additional Product Info
Consumers form quick judgments, taking just 50 milliseconds to assess a website's visual appeal. Swift decision-making influences recommendations and repeat purchases. Providing supplementary information, like Rooted's infographic on unboxing plants, enhances customer experience and prevents negative perceptions.
Email #7: Promote an Upsell or Cross-Sell Offer
Timing is crucial in email marketing to avoid being perceived as pushy. Wait until late in the post-purchase workflow for upsell or cross-sell promotions. Relevance is key, as three-quarters of consumers expect brands to understand their unique needs. Follow Ten Thousand's example by encouraging customers to enhance their order with complementary products. Increase conversions by combining upsell and cross-sell emails with a limited-time offer for additional purchases within 24 hours.
Email #8: Ask for a Referral
Referrals can be an invaluable source of revenue, with one study revealing that customers referred by other customers:
Generate higher profit margins
Display more brand loyalty
Show a higher customer lifetime value
Build customer comfort through brand familiarity, timely upsells, valuable product information, and reviews to increase the likelihood of referrals. Discounts play a significant role, ranking as the fourth-biggest reason for referrals. Keep referral offers simple, succinct, and attractive, providing customers with a compelling reason to advocate for your brand. For example, Italic's referral email offers a $15 discount for both the referrer and the referred customer.
How to Measure Customer Lifetime Value With Segment Analytics 🙌
Some U.S. brands selling on TikTok Shop claim a significant boost in profitability, and here's a compelling strategy to further enhance your brand's bottom line—aim for a 25% or more increase in profits by simply elevating customer retention by 5%. As you're likely aware, acquiring new customers is substantially more expensive (about six to seven times) than retaining existing ones.
The linchpin to effective retention efforts lies in understanding Customer Lifetime Value (CLV). CLV gauges how much a customer is anticipated to spend with your company from their initial purchase to their final one. It serves as a compass for pinpointing your most valuable customers, enabling you to refine marketing campaigns and elevate satisfaction, retention, and ultimately, your return on investment (ROI).
The implications of CLV are far-reaching, influencing your marketing strategy, sales techniques, and even the products or services you develop. Essentially, it stands as one of the most pivotal metrics to comprehend and enhance. Various formulas exist for calculating CLV based on available data. Employing segment analytics involves categorizing customers into groups with shared characteristics, traits, or behaviors, allowing brands to compute CLV for diverse customer categories and compare their significance to the business.
Here's a step-by-step guide on how to measure CLV using segment analytics:
Define Customer Segments:
Utilize criteria such as demographics, location, purchase frequency, product preferences, etc.
Employ tools like CleverTap for comprehensive customer data analysis.
Create measurable, accessible, relevant, and actionable segments based on diverse criteria.
Calculate Average Revenue per Customer for Each Segment:
Divide the total revenue generated by each segment by the number of customers in that segment.
Determine Average Lifespan of a Customer in Each Segment:
Estimate how long a customer stays with your business before ceasing purchases.
Refer to past data or industry benchmarks for accurate estimates.
Multiply Average Revenue by Average Lifespan for Each Segment:
This yields CLV for each segment, predicting a customer's worth over their entire lifespan.
Example: CLV = Average Revenue Per Customer x Average Lifespan of a Customer
Compare CLV Across Segments to Identify Most Valuable Customers:
Target high CLV customers with personalized campaigns to optimize your marketing budget and boost satisfaction and revenue.
In essence, while all Key Performance Indicators (KPIs) hold importance, CLV emerges as a critical metric for navigating a dynamic, competitive market. Leveraging segment analytics to measure CLV provides deeper insights into your customer base, allowing for tailored marketing efforts and informed, profit-driven decisions.
5 Solid Reasons to Shift Your Focus to Lifecycle Marketing
Say goodbye to the old-school sales funnel and say hello to something even better – lifecycle marketing! 🚀
Wondering why you should make the switch? Well, here are some super cool reasons:
Think Long-Term:
Old funnel? It's like a first date – all about that initial spark. But what happens after? Lifecycle marketing is like building a lasting relationship. It’s not just about getting customers; it’s about keeping them happy and coming back for more.
Make It Personal:
In today's world, personalization is a must. Lifecycle marketing lets you customize messages based on where your customer is in their journey. Imagine sending a special product suggestion right after they make their first purchase. It shows you're paying attention. 👀🎁
Boost Customer Happiness:
Happy customers are loyal customers. Lifecycle marketing focuses on giving value at every stage, whether it's through cool content, support, or loyalty perks. Make every step awesome for your customers! 🌟😊
Smart Data Insights:
Lifecycle marketing helps you gather smart data at different points. It’s not just numbers; it's like having a treasure chest of insights into what your customers like and what bugs them. Use this info to make super smart decisions. 📊💡
Keep 'Em Coming Back:
Getting a new customer is cool, but keeping an existing one? Even cooler (and cheaper)! Lifecycle marketing helps you nurture your relationship with existing customers, making them more likely to stick around and keep buying from you. 🔄
In a nutshell, lifecycle marketing is like seeing the whole forest, not just individual trees. It's a cool way of looking at your customer’s journey as a continuous loop, not just a one-time thing. 🌳 Ready to level up your marketing game? Try out lifecycle marketing! 🚀💪
Brand of the Week 🔥
Living Prana
Meet the creators of Living PranaTM—Ryan and Brian. Ryan, a health guru, got seriously sick once. But with the help of healers and nutritionists, he found out how to be healthy. Brian, a business whiz, struggled with feeling bad about himself until he made a big change by eating better and moving more.
Now, these pals are on a mission. They've cooked up PranaCakesTM, pancakes filled with goodness. But it's not just about pancakes; it's about a brand, Living PranaTM. They want to share healthy, organic, and planet-friendly foods with everyone.
Ryan brings his health knowledge, and Brian adds his business smarts. Together, they're not just making pancakes; they're creating a brand that cares about you and the Earth. The idea is simple: good food, good bodies, and a good planet.
When you grab Living PranaTM pancakes, you're not just getting a tasty treat. You're joining a movement—making the world better, one pancake at a time. It's not just a brand; it's a lifestyle, a tasty and healthy one.
Top Reads📚
Smucker seeks to divest cookie brand Voortman, sources say ~ 30 July 2024, Reuters
Blake Lively’s Hair Is No Longer Full of Secrets: All About Her Debut Haircare Line, Blake Brown! ~ 31 July 2024, Peope
BranchOut Food Inc. Announces $3.925M CEO-led Investment Including an Insider PIPE and Convertible note ~ 24 July 2024, Morning Star
Aether Group Targets Corte Vetusto for Turnaround Potential in U.S. Market ~ 26 July 2024, Benvet
Amazon Briefing: 3 things to watch out for ahead of Amazon’s earnings ~ 1 August 2024, Modern Retails.
HTE Job Board- Get Your Dream Job With a Click✨💼
Welcome to the HTE Job Board. We connect talented individuals with exciting career opportunities. Browse through our latest job listings and find the perfect match for your skills and aspirations.
📢Product Marketing Manager - USA
Your Voice 🎤
Phew! That was a lot, right? But hey, knowledge is power🌟. We hope this edition gave you some insights and maybe even cleared up a few doubts.
Got questions or topics you'd like us to cover next? Holler at us! We’ll give you a shoutout in our next edition. If you have any questions, reply to this email and share your valuable feedback so we can aim to address them in our upcoming editions!
Thank you for being a part of our community !🙌
Did you find this newsletter helpful? 👍 / 👎
Your feedback keeps us going.
Until next time,
With 🧡🧡
How to E-commerce