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2601 Ocean Park Blvd #104 Santa Monica, CA 90405 | 310-598-6658 | RetentionScience.com
Lifecycle Marketing:What are lifecycle stages & campaigns that work
#lifecy-clemktg
Today’s speakers
Ryan LeeClient Success Manager
Retention Science
Tracy RandallFormer CEO & Co-Founder
Cooking.com
“80% of your company’s future revenue will come from just 20% of
your existing customer base”
Agenda
1.What is lifecycle marketing?
2.Stages of the customer lifecycle
3.How to segment your customers
4.Campaigns for each stage
5.Optimizing your campaigns
-Gartner Group#lifecy-clemktg
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What is Lifecycle Marketing?
Lifecycle Marketing is…
A customer goes through different stages during the time they are engaged with your company.
Successful Lifecycle Marketing uses data science to profile and predict when customers hit critical points in their lifecycles and takes these factors into consideration to create captivating marketing campaigns: level of engagement, frequency of purchases, and predicted lifetime value.
#lifecy-clemktg
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Lifecycle Marketing Stages
Lifecycle Stages Overview
#lifecy-clemktg
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How to Segment Customers
Traditional vs. New Segmentation
Traditional
• Demographics: age, gender, location, registration source
• CLV – Customer Lifetime Value
• RFM – Recency, Frequency, Monetary Value
• Discounts vs. non-discount
• Email activity
Newer
• Predictive demographics based on user behavior
• CFV – Customer Future Value
• Churn Status – Ready to Buy, At Risk, Churned
• Discount optimization
• Multi-channel activity #lifecy-clemktg
Assigning segments to stages
• What are the signs you should look for?• Common customer attributes (sign up date)• Purchase history (frequency, last purchase date)• Top sellers: products or categories• Recent activity (last login)• Customer Lifetime Value
• How Retention Science segments using data science• User-to-user personas• Churn status: Ready to Buy, At Risk, & Churned• Product affinity: i.e. item-to-item / user-to-item• Multi-dimensional customer activity• Customer Future Value
#lifecy-clemktg
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Campaigns & Optimization
Engagement Stage:Welcome Series
Send to new subscribers and customers who have made their first purchase and were not already on your list.
• 3 - 4 emails• Sent over 7 - 10 days• First email should be triggered upon
sign upThe Honest Company
Welcome Email
Optimizing Your Welcome Series
• Introduce brand values
• Testimonials and reviews
• Social media engagement
• Product categories
#lifecy-clemktg
Retention Stage:Activation Series
Sent out to customers who have completed a first purchase and subscribers who have signed up for a free trial offer, but have not converted into a paying customer.
• 4 – 6 emails• Sent over 10 – 14 days• Sent after first transaction or toward
end of trial period.The Honest Company
Activation Email
Optimizing Your Activation Series
• First offer email
• The offer sequence
• Personalized product recommendations
#lifecy-clemktg
Recovery Stage:Win-Back Series
These emails are sent to customers who are at risk of churning or who have already churned.
• 4 – 5 emails• Sent over 30 days
Dollar Shave ClubWin-Back Email
Optimizing Your Win-Back Series
• “We miss you” email
• Win-back offer
• Reminder email
• Plain text email
#lifecy-clemktg
Advocacy Stage:Reward Series
These emails go out to high-value customers who continually purchase, loyal customers who are influencers in social media or other areas, and brand advocates that promote your brand and spread the word.
• 3 emails• Sent over 90 days
StarbucksReward Email
Optimizing Your Advocacy Series
• Thank You incentive
• Anniversary email
• Exclusive sales & events
#lifecy-clemktg
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Recap
Recap:• Two main ways to segment customers:
• Traditional & New (Data Science)
• Lifecycle Marketing Stages:• Engagement – Welcome Series• Retention – Activation Series• Recovery – Win-Back• Advocacy – Loyalty Emails
#lifecy-clemktg
Questions?
#lifecy-clemktg