growing clv, automating replenishment and predictive marketing with magento + mailchimp
TRANSCRIPT
Growing CLV, Automating Replenishment and Predictive Marketing with
Magento + MailChimpJeff McRitchie – MyBinding.comStephen Enfield - POS Supply
Andrew Pearson – Windsor Circle
Today’s Presenters
Stephen EnfieldPresident/CEO - POS Supply Solutions
Jeff McRitchie VP of Marketing – MyBinding.com
Andrew PearsonVP, Marketing – Windsor Circle
About MyBinding.com
About MyBinding.com
About POS Supply Solutions
About POS Supply Solutions
Windsor Circle Partners
Today’s Agenda
Segmentation & Personalization
Cart Recovery
Automated Replenishment
Innovations & Must Haves for 2016
Looking back at 2015
eCommerce Sales up 20.9% y/y*
Cyber Monday - $3 billion (up 12% y/y)**
AOV - $133
204+ billion emails sent by MailChimp
*ChannelAdvisor SSS Report 12/15**Adobe 12/15
What is Working
Customer Segmentation
Develop highly targeted campaigns
Improve message relevancy
Test and reveal strategies that give customers a reason to open and act
Improve Personalization with Advanced Segmentation
First Purchase Before 11/23
2014 Cyber Week Buyers
NFL Team (Zip Code Proximity)
More Control Over Messaging
Purchase Frequency is 6
CLV is Greater than 1000 in Last 6 Months
Reclaim Lost Revenue with Cart Recovery
Personalized messaging
Quick Set-up
Anti-Gaming Technology
Reclaim 5-25% of carts Current client avg:
~15%
Cart Recovery Boosts Sales Detect cart abandonment
through Magento
Provide rich content and product information on items left in cart
Offer incentive coupon to entice return, but limit this with anti-gaming
30.4% Open Rate8.7% Click Rate
Personalized Replenishment Keeps Customers Coming Back
Predict individual consumption patterns
Basket multiple replenishable products into single email
Completely customizable
...With Some Amazing Results
Industry Avg. RPE - $0.10 – Experian 2014
Average RPE by Industry
Medical Supply (All) – $1.51 Top Performers - $2.11
Health & Beauty (All) - $1.23Top Performers - $1.87
Consumer Goods (All) - $0.76Top Performers – $1.29
B2B Supply (All) - $0.62Top Performers – $1.09
Remind Them Before They Run Out
Reach B2B customers with depleted stock
Timing is critical
Make process as quick and easy as possible
26.7% Open Rate5.4% Click Rate
Personalized Replenishment Keeps Customers Coming Back
Predict individual consumption patterns
Basket multiple replenishable products into single email
Completely customizable
Reorder Incentives
Drive loyalty, retention & revenue
Offer Coupons Automate messages
to individual customers
Know customer’s needs before they do
Reminder of other items available
Two-Tiered Approach to Replenishment
Tier One Automated, One-to- One Emails Based on Replenishment Date,
calculated via Windsor Circle Offers no discount, simply a reorder
prompt
Tier Two Quarterly category based
Replenishment emails Discounts per category 40 of these send approx. 3 per week,
4 times per year
This approach has more than doubled Replenishment
revenue!
20.2% Open Rate2.7% Click Rate
Why MailChimp
Innovating in 2016
Better order & shipping management
Brand differentiation
Personalization
What Are You Testing?
“Must Have” Extensions
Urapidflow by Unirgy Webshopapps Shipping Matrix and Over Ride Universal Variable and Opentag by Qubit Full Page Cache / Crawler by Extendware Feed Pro by Gomage Windsor Circle Discontinued Products by Added Bytes
What Are You Testing?
Cost efficient shipping options
Streamlining checkout process
Replenishment automation
Browse Abandonment
Cart Recovery
Retention Automation
Campaigns - Top 3 “Must Haves” for 2016
About Windsor Circle
About Windsor Circle
We are a Predictive Lifecycle and Retention Marketing Platform that
Helps Retailers Grow
Customer Lifetime Value
Case Study after Case Study = Public Proof
The Customer Lifetime Value Game
Lounge #314Learn how to win
more business from customer personas like:• “Repeat Pete”• “Money Bags Moe”
Increase spend from customer personas like:• “Coupon Christie”• “Browsing Bill”
& Win Prizes!
The Customer Lifetime Value Game
Lounge #314Learn how to win
more business from customer personas like:• “Repeat Pete”• “Money Bags Moe”
Increase spend from customer personas like:• “Coupon Christie”• “Browsing Bill”
& Win Prizes!
Play to Winan
Thank you!