The Science of Email Commerce Turn one-time buyers into loyal customers www.madebyewave.com
Presenters Fatima Said Nick Hull Sarah Dennis Co-Founder & Managing Director Ecommerce Strategist Senior Manager, Sales & Marketing eWave eWave Educational Experience www.madebyewave.com
The Science of Email Commerce Turn one-time buyers into loyal customers www.madebyewave.com
Agenda ‣ Introduction ‣ The Importance of a Customer’s Lifetime Value ‣ Tips & Best Practices ‣ Transactional Campaigns ‣ Automated Campaigns (Welcome Series, Post Purchase, Re-Engagement, Shopping Cart Abandonment) ‣ Modal Acquisition ‣ EDEX Case Study ‣ Relevancy, Data, Integration ‣ Key Take-Aways www.madebyewave.com
We build online businesses not just websites we are an omni-channel ecommerce agency www.madebyewave.com
Quick Facts Our Difference About Clients ‣ Australia’s iconic brands, multi- ‣ Magento Gold Solution Partner ‣ Unique Process Methodology channel retailers & multi-national ‣ Awarded Magento Partner of ‣ Customer-centric in all we do corporations. Excellence ‣ Build long term relationships ‣ Magento Certified Developers ‣ Complete Project Lifecycle In-House ‣ Founded 1999 ‣ Managed Support Plans ‣ Privately Owned ‣ We Put The Merchant In Control ‣ Offices: Australia, North America, Europe ‣ 110 Employees Worldwide www.madebyewave.com
Special Guest Sarah Dennis Senior Manager - Sales and Marketing ‣ Educational Experience has been working in the education and care sector for over 35 years ‣ A range of 7,500 products distributed nationally ‣ Core markets of childcare and schools ‣ Opportunity to broaden markets whilst also increasing loyalty of existing customers ‣ Focus to be a learning resource partner for our customers www.madebyewave.com
Understand Your Customer Lifetime Value www.madebyewave.com
Average Customer ROI Sale 3 $210 ACCUMULATED REVENUE $140 Sale 2 $70 Sale 1 $0 Break Even Point PURCHASE FREQUENCY -$70 www.madebyewave.com
Average Customer ROI Sale 3 ROI 2.3% ROI 4% ROI 5.25% $210 ACCUMULATED REVENUE $30 $5 $5 $70 $70 $70 $140 Sales 2 $70 Sale 1 $0 Break Even Point PURCHASE FREQUENCY -$70 www.madebyewave.com
Consumer Groups NEW CURRENT MARKETING 6-7x SPEND $$ more than retaining an existing customer COMPETITION LOST www.madebyewave.com
85% of consumers do not make a second purchase www.madebyewave.com
One-Time Buyers VS Long-Term Customers 1 1 1 4 Familiarity Comfort 3 2 1 2 Trust 1 Satisfaction Long-Term Customers Expectation One Time Buyers One Time Buyers www.madebyewave.com
Email Is Key To Creating Loyal Customers In Online Retail www.madebyewave.com
Email Lifecycle ROI 10% 40% REVENUE SPEND 6-7x More Effective www.madebyewave.com
Marketing Tactics ROI 70% 67% 60% 50% ROI 40% 38% 37% 30% 20% 19% 16% 15% 10% 13% 12% 0% www.madebyewave.com
Tips & Best Practices ‣ Transactional Campaigns ‣ Automated Campaigns (Welcome Series, Post Purchase, Re-Engagement, Shopping Cart Abandonment) ‣ Modal Acquisition www.madebyewave.com
Online Lifecycle Marketing Order Email Shipment Email www.madebyewave.com
Create Brand Ambassadors Friends Family www.madebyewave.com
Customer Lifetime Value ‣ Preferences Build A Long-Term ‣ Behaviour Relationship ‣ Actions www.madebyewave.com
Monetize Your Transactional Emails www.madebyewave.com
Monetize Your Transactional Emails: Don’t Waste Opportunities www.madebyewave.com
Building a repeat customer base through post purchase email campaigns ‣ Higher Relevancy ‣ Higher Click-Through Rate ‣ Higher Conversion Rate www.madebyewave.com
Automated Campaigns ‣ Welcome Series ‣ Post Purchase ‣ Re-Engagement ‣ Shopping Cart Abandonment www.madebyewave.com
Welcome Series www.madebyewave.com
Welcome Series ‣ Series of 1-3 Emails ‣ Set The Tone ‣ Introduce Your Brand ‣ Educate Your Customer www.madebyewave.com
Welcome Series Email 1/3 EDEX Case Study
Welcome Series Email 2/3 EDEX Case Study
Welcome Series Email 3/3 EDEX Case Study
Post Purchase www.madebyewave.com
Post Purchase 30-40% 4-6x 5-20% HIGHER AVERAGE REVENUE CONVERSION ORDER VALUE www.madebyewave.com
Post Purchase Strategies ‣ Survey & Customer Service ‣ Thank You ‣ Request A Review ‣ Product Care / Instructions ‣ Loyalty Programs ‣ Product Replenishment www.madebyewave.com
Post Purchase Thank You Email Building a repeat customer base through post purchase email campaigns www.madebyewave.com
Post Purchase Thank You Email With Offer Building a repeat customer base through post purchase email campaigns www.madebyewave.com
Post Purchase Request A Review ‣ Shows that you truly care ‣ Provides valuable feedback ‣ Build product reviews ‣ Generates more orders www.madebyewave.com
Post Purchase Product Care Instructions Building a repeat customer base through post purchase email campaigns ‣ Main Goal ‣ Provide Valuable Information To Customer ‣ Secondary Goal: ‣ Maximise Click-Throughs To Site
Re-Engagement www.madebyewave.com
Replenishment – Buyertrack ? 1 3 4 2 Months Deal to encourage repeat purchase Email to engage customer after purchase was ‘missed’ and increase order size www.madebyewave.com
Re-Engagement Buyertrack Building a repeat customer base through post purchase email campaigns www.madebyewave.com
Re-Engagement Buyertrack 10% Conversion Building a repeat customer base Rate through post purchase email campaigns www.madebyewave.com
Re-Engagement Birthday Email
Re-Engagement 1 st Year Anniversary
Shopping Cart Abandonment www.madebyewave.com
75% of shopping carts are abandoned $100,000 $300,000 www.madebyewave.com
Shopping Cart Abandonment: Top Reasons What People Say What People Do ‣ Not All Abandonment Is Bad ‣ Price ‣ Normal Part Of The ‣ Timing Decision Making Process ‣ Objections www.madebyewave.com
Shopping Cart Abandonment: SALE BUY NOW ABANDONED CART EMAIL CAMPAIGN 300% CONVERSION INCREASE www.madebyewave.com
Shopping Cart Abandonment: EDEX Case Study 3 Hours www.madebyewave.com
Shopping Cart Abandonment: EDEX Case Study 48 Hours www.madebyewave.com
Shopping Cart Abandonment: EDEX Case Study 48 Hours www.madebyewave.com
Shopping Cart Abandonment: EDEX Case Study 8.6% RECOVERY RATE 94% Revenue 54.1% REVENUE 39.93% REVENUE 5.97% REVENUE www.madebyewave.com
Shopping Cart Abandonment: EDEX Case Study // Responsive Email www.madebyewave.com
Modal Acquisition www.madebyewave.com
www.madebyewave.com
Modal Acquisition // EDEX Case Study www.madebyewave.com
Modal Acquisition Eye Looking Straight Ahead ‣ Only 6% looked at the product www.madebyewave.com
Modal Acquisition Eye Looking Straight Ahead Eye Looking Towards Product ‣ Only 6% looked at the product 84% looked at the product ‣ www.madebyewave.com
Relevancy www.madebyewave.com
New Customer Long-Term Value Customer Inactive Subscriber Highly Motivated Multiple Purchases Disengaged Defined Need or Interest www.madebyewave.com
Lifecycle email communication generates 9x GREATER RESULTS www.madebyewave.com
Postcode Time Between Orders Order Value SKUs City Average Order Value Flexible City Flexible Order Value Attributes Average Order Value Seamlessly Integrate Spend Attributes Order Value Postcodes SKUs RELEVANCY Spend Re-Order Date Purchase Dates City Re-Order Date Categories Order Value Order Count Client Segmentation Previous Purchases Client Segmentation Attributes Spend Re-Order Date Categories Postcode Previous Purchases www.madebyewave.com
Email Integration Magento WMS Order History Trading Info Email Products Purchased Postcode Customer Intention Delivery Status Platform CRM ERP Customer Address Average Spend Customer Type AOV ‣ ‣ Order History Gift Cards Opportunities Last Purchase Date ‣ ‣ Products Purchased Trading Info ‣ ‣ Customer Intention Postcode ‣ ‣ Customer Address Delivery Status POS ‣ ‣ Customer Type Average Spend In-Store Orders ‣ ‣ Opportunities AOV ‣ ‣ Loyalty Status In-Store Orders Last Purchase Date ‣ Loyalty Status Gift Cards www.madebyewave.com
Key Take-Aways 1. Automate All You Can 2. Monetize Your Order Emails 3. Set The Tone And Build A Relationship 4. Find The Right Post Purchase Strategy 5. Not All Shopping Cart Abandonment Is Bad 6. Think Responsive 7. Acquire More Subscribers 8. Relevancy Is Key Data is King – Integration Is A Must 9. 10. Consider The Lifetime Value Of Your Customer www.madebyewave.com
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