The importance of customer retention
Digital marketing tends to be acquisition focused. Growing your audience and making more sales by finding new customers. What about plans for your existing customers? In our experience the drop-off rate after the first purchase is as high as 90%. That’s a huge missed opportunity.
According to Harvard Business School, “increase your retention rates by 5%, you’ll increase profit by 25% -95%. So a focus on customer retention should play a big part in your future marketing plans.
That’s where Websand comes in.
Managing your customer data based upon when they last bought, how many times they have bought, and how much they are worth.
The segments update based on your customer behaviour so your audience is always managed, and the saving you valuable time and giving you valuable accurate information.
Use segmentation to manage the key touch points of your customer behaviour, e.g. who bought 95 days ago, who bought product X, who has bought twice.
Automation gives you a customer retention engine. Sending marketing at the key time relevant to the behaviour of each customer.
It’s powerful and it works. Automation results are 3x higher than normal sends, and the ROI is off the charts.
And we are here to help…
“The whole experience from end-to-end is more personal. Websand quickly understood our brand and the support we receive is second to none. We never had this understanding, flexibility and support with Mailchimp. To have someone on the end of the phone, email and/or SMS, makes a huge difference to their overall level of service“Jon Hutchings, Head of Ecommerce at 304 Clothing
Why switch to Websand?
Start sending targeted, personalised email marketing in minutes
Deeper understanding of customer behaviour
Better engagement from your email marketing
Less time dealing with data management
Better engagement driving more sales
Higher rates of customer retention
Increased customer lifetime value
If you still aren’t convinced, here’s a challenge for you.
When creating a retention engine, you want to make sure you keep the most valuable customers.
We believe that average customer lifetime value (clv) is the most important metric you don’t know about your business. That’s why Websand calculates your average customer lifetime value and creates dynamic segmentation based around the value of your customers.
So do you know the customer lifetime value for your customers?
If your guess is within 20% of the customer lifetime value calculated by Websand after set up, we’ll discount your subscription by 25% for the first 12 months.
If your guess is within 10% of the customer lifetime value calculated by Websand after set up, we’ll discount your subscription by 50% for the first 12 months.
Websand completely revolutionised how we interact with our customer base.Alex Ingram, Head of Marketing. Digitalab