Marketing Hole In One: Best Practices for Customer Acquisition & Retention
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A Marketing Hole-in-One Best Practices for Customer Acquisition & Retention
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Transcript of Marketing Hole In One: Best Practices for Customer Acquisition & Retention
A Marketing Hole-in-One Best Practices for Customer Acquisition & Retention
Speakers:
Joe Zumpella Shawn Williams Andrew Pearson
Sales & Marketing Director, GolfHQ
President & COO, Spring Metrics
VP of Marketing Windsor Circle
Agenda
• From Visitor to Customer • GolfHQ’s Story • Customer Acquisition • Customer Retention • Questions
Content Divider Page 1 Brief description of content division
From Visitor to Customer What does this journey look like?
First Things First:
• Only 8% of site visitors are existing customers – 4% are returning purchasers – 4% are repeat purchasers
Source: Adobe Loyal Shopper’s Report 2013
First Things First:
• Only 8% of site visitors are existing customers – 4% are returning purchasers – 4% are repeat purchasers
Source: Adobe Loyal Shopper’s Report 2013
• This 8% represents 41% of revenue
Meet Sally
Sally – New Visitor
Meet Sally
Sally – New Visitor
Clicks on Google Ad
Meet Sally
Sally – New Visitor
Clicks on Google Ad
Lands on GolfHQ
Meet Sally
Sally – New Visitor
Clicks on Google Ad
Lands on GolfHQ
Visits Site
No purchase or subscription
Meet Sally
Sally – New Visitor
Clicks on Google Ad
Lands on GolfHQ
Visits Site
Visits Site
No purchase or email captured
No purchase or subscription
Web search for product and buys from another vendor
Meet Sally
Sally – New Visitor
Clicks on Google Ad
Receives newsle+er
Lands on GolfHQ
Visits Site
Visits Site
No purchase or email captured
No purchase or subscription
Signs up for newsletter
Meet Sally
Sally – New Visitor
Clicks on Google Ad
Receives newsle+er
Lands on GolfHQ
Visits Site
Visits Site
No purchase or email captured
No purchase or subscription
Signs up for newsletter Receives
newsle+er
Meet Sally
Sally – New Visitor
Clicks on Google Ad
Receives newsle+er
Lands on GolfHQ
Visits Site
Visits Site
No purchase or email captured
No purchase or subscription
Signs up for newsletter Receives
newsle+er
Receives newsle+er
Web search for product and buys from another vendor
Meet Sally
Sally – New Visitor
Clicks on Google Ad
Receives newsle+er
Lands on GolfHQ
Visits Site
Visits Site
No purchase or email captured
No purchase or subscription
Signs up for newsletter Receives
newsle+er
Receives newsle+er Visits Site
Meet Sally
Sally – New Visitor
Clicks on Google Ad
Receives newsle+er
Lands on GolfHQ
Visits Site
Visits Site
No purchase or email captured
No purchase or subscription
Signs up for newsletter Receives
newsle+er
Receives newsle+er Visits Site
Doesn’t see product or promotion on homepage
Web search for product and buys from another vendor
Content Divider Page 1 Brief description of content division
GolfHQ’s Story
About GolfHQ
Acquisition Funnel
Acquisition Funnel
Product Landing Page
By the numbers
For Every 100 Clicks:
Cost Per Click $0.50 $50 Conversion Rate 1 – 2% 1 new customer AOV $100 $100 orders Net $50 net
By the numbers w. email capture
• Cost Per Click: $0.50
• Conversion rate: 1% - 2% • Email Capture Rate: 10%
• AOV: $100 • 100 people click on the link = $50
– 1.5% convert = 1 person – 10% email capture = 10 address ($5 per email address)
For Every 100 Clicks:
Cost Per Click $0.50 $50 Conversion Rate 1 – 2% 1 new customer AOV $100 $100 orders Net $50 net Email Capture Rate 10% 10 email addresses Email Conversion 33% 3 new customers New Net $350
4x sales = 6x profit
Spend $50 • Capture 1 new customer
Spend $50
4x sales = 6x profit
Spend $50 • Capture 1 new customer • Sell $100
Spend $50
4x sales = 6x profit
Spend $50 • Capture 1 new customer • Sell $100 • Total Sales = $100
Spend $50
4x sales = 6x profit
Spend $50 • Capture 1 new customer • Sell $100 • Total Sales = $100 • Net = $50
Spend $50
4x sales = 6x profit
Spend $50 • Capture 1 new customer • Sell $100 • Total Sales = $100 • Net = $50 • If your margins are 40%, you
are $10 in the hole
Spend $50
4x sales = 6x profit
Spend $50 • Capture 1 new customer • Sell $100 • Total Sales = $100 • Net = $50 • If your margins are 40%, you
are $10 in the hole • Only if customer makes 2nd
purchase, do you profit $30.
Spend $50
4x sales = 6x profit
Spend $50 • Capture 1 new customer • Sell $100 • Total Sales = $100 • Net = $50 • If your margins are 40%, you
are $10 in the hole • Only if customer makes 2nd
purchase, do you profit $30.
Spend $50 • Capture 1 new customer +
10 email address
4x sales = 6x profit
Spend $50 • Capture 1 new customer • Sell $100 • Total Sales = $100 • Net = $50 • If your margins are 40%, you
are $10 in the hole • Only if customer makes 2nd
purchase, do you profit $30.
Spend $50 • Capture 1 new customer +
10 email address • Sell $100
4x sales = 6x profit
Spend $50 • Capture 1 new customer • Sell $100 • Total Sales = $100 • Net = $50 • If your margins are 40%, you
are $10 in the hole • Only if customer makes 2nd
purchase, do you profit $30.
Spend $50 • Capture 1 new customer +
10 email address • Sell $100 • Convert 3 more customers
4x sales = 6x profit
Spend $50 • Capture 1 new customer • Sell $100 • Total Sales = $100 • Net = $50 • If your margins are 40%, you
are $10 in the hole • Only if customer makes 2nd
purchase, do you profit $30.
Spend $50 • Capture 1 new customer +
10 email address • Sell $100 • Convert 3 more customers • Sell $300 more
4x sales = 6x profit
Spend $50 • Capture 1 new customer • Sell $100 • Total Sales = $100 • Net = $50 • If your margins are 40%, you
are $10 in the hole • Only if customer makes 2nd
purchase, do you profit $30.
Spend $50 • Capture 1 new customer +
10 email address • Sell $100 • Convert 3 more customers • Sell $300 more • Total Sales = $400
4x sales = 6x profit
Spend $50 • Capture 1 new customer • Sell $100 • Total Sales = $100 • Net = $50 • If your margins are 40%, you
are $10 in the hole • Only if customer makes 2nd
purchase, do you profit $30.
Spend $50 • Capture 1 new customer +
10 email address • Sell $100 • Convert 3 more customers • Sell $300 more • Total Sales = $400 • Net = $350
4x sales = 6x profit
Spend $50 • Capture 1 new customer • Sell $100 • Total Sales = $100 • Net = $50 • If your margins are 40%, you
are $10 in the hole • Only if customer makes 2nd
purchase, do you profit $30.
Spend $50 • Capture 1 new customer +
10 email address • Sell $100 • Convert 3 more customers • Sell $300 more • Total Sales = $400 • Net = $350 • With 40% margins, you
already have $110 profit!
4x sales = 6x profit
Spend $50 • Capture 1 new customer • Sell $100 • Total Sales = $100 • Net = $50 • If your margins are 40%, you
are $10 in the hole • Only if customer makes 2nd
purchase, do you profit $30.
Spend $50 • Capture 1 new customer +
10 email address • Sell $100 • Convert 3 more customers • Sell $300 more • Total Sales = $400 • Net = $350 • With 40% margins, you
already have $110 profit! • If ½ make a 2nd purchase,
you will have $190 profit!
Content Divider Page 1 Brief description of content division
Customer Acquisition
Customer Acquisition
• ~97% leave with no action • Relationships
– Engage – Build
• Differentiate – Tell your story – Separate from compeMMon
Customer Acquisition
• How? • Leverage what’s available • Personalize
– Content – Offers
• What works best? – Test
• Improve – Big steps – Small steps
Customer Acquisition
• Convert today – First Mme buyers à Repeat buyers
• Capture emails – Acquire ability to reach out
• Social impact – Broaden presence
• Relationships, relationships, relationships
• Target segment – Hit product page – Time on site
• Results – 52% increase in CR – Revenue lift – New customers Inset text area.
Golf HQ Success - Conversions
• Target segment – Promotion –
limited time – All visitors
• Results – 44% increase in CR – Revenue lift – New customers
Inset text area.
Golf HQ Success - Conversions
• Target segment – 1st or 2nd visit – Desktops &
laptops – Time on site
• Results – 1,750 likes – 15% increase in CR
Golf HQ Success - Social
• Target segment – 1st time visitors – Desktops, laptops,
& tablets
• Results – 5,252 emails
captured
Golf HQ Success – Email Capture
Remember Sally?
Sally – New Visitor
GolfHQ.com
Remember Sally?
Sally – New Visitor
GolfHQ.com
1st Visit
Remember Sally?
Sally – New Visitor
GolfHQ.com
2nd Visit
1st Visit
Remember Sally?
Sally – New Visitor
GolfHQ.com
2nd Visit
1st Visit
3+ Visits
Content Divider Page 1 Brief description of content division
Customer Retention We’ve acquired the customers…now what?
• 2 part New Customer Welcome Series – Open Rate: 33.9% – Click Rate: 11.2% – 35.7% increase in
2x purchaser segment
Retain New Customers
• 2 part New Customer Welcome Series – Open Rate: 33.9% – Click Rate: 11.2% – 35.7% increase in
2x purchaser segment
Retain New Customers
• 2 part New Customer Welcome Series – Open Rate: 33.9% – Click Rate: 11.2% – 35.7% increase in
2x purchaser segment
Retain New Customers
First name personalization
• 2 part New Customer Welcome Series – Open Rate: 33.9% – Click Rate: 11.2% – 35.7% increase in
2x purchaser segment
Retain New Customers
First name personalization
Dynamic product recommendations
Remember Sally?
Sally – New Visitor
GolfHQ.com
2nd Visit
1st Visit
3+ Visits
Remember Sally?
Sally – New Visitor
GolfHQ.com
2nd Visit
1st Visit
3+ Visits
Welcome 1
Email Captured & 1st Purchase
Remember Sally?
Sally – New Visitor
GolfHQ.com
2nd Visit
1st Visit
3+ Visits
Welcome 1 Welcome 2
Email Captured & 1st Purchase
Remember Sally?
Sally – New Visitor
GolfHQ.com
2nd Visit
1st Visit
3+ Visits
Welcome 1 Welcome 2
Email Captured & 1st Purchase
Makes 2nd purchase
Show Facebook screenshot
• Branding • Shares • Engaging content
Show Facebook screenshot
• Branding • Shares • Engaging content
Show Facebook screenshot
• Branding • Shares • Engaging content
Show Facebook screenshot
• Branding • Shares • Engaging content
• Automated Data-Driven Emails – New subscriber welcome – 1st purchase thank you
series – Product recommendations – Best customer campaign – Win-back campaign
Keep Existing Customers
KNOW CONNECT THANK
REWARD BUY MORE SAVE
EVANGELIZE LISTEN ACQUIRE
Open Rate: 61.5% 40% increase in best customers Segment: 3+ purchases
Best Customer Email
Open Rate: 61.5% 40% increase in best customers Segment: 3+ purchases
Best Customer Email
Dynamic product recommendations
Remember Sally?
Sally – New Visitor
GolfHQ.com
2nd Visit
1st Visit
3+ Visits
Welcome 1 Welcome 2
Email Captured & 1st Purchase
Makes 2nd purchase
Remember Sally?
Sally – New Visitor
GolfHQ.com
2nd Visit
1st Visit
3+ Visits
Welcome 1 Welcome 2
Email Captured & 1st Purchase
Makes 2nd purchase
Makes 3rd purchase Becomes a best customer
Best Customer
Save Your Churning Customers
• 3-Part Win-back Series – Open rate: 24.8% – Click rate: 2.3%
• Segmenting promotions – Early stages
• 2 key segments – Customers who haven’t
come back in 180 days
– Non-purchasers
• Receive a specific offer
Segmenting Promotions
3 Keys to Email Marketing
Ini7aliza7on Op7miza7on Reten7on Automa7on Win By: • Volume
Key Metrics: • List Size • Send Volume
Key Activities: • Build List • Send Frequently
ESP Selection: • Cost
Segmentation: • None
Automation: • None
3 Keys to Email Marketing
Ini7aliza7on Op7miza7on Reten7on Automa7on Win By: • Volume • Content
Key Metrics: • List Size • Send Volume
• Opens • Clicks
Key Activities: • Build List • Send Frequently
• Frequent Sends • Content Creation • Dashboard & Reporting
ESP Selection: • Cost • Better Feature Sets
Segmentation: • None • Available But Limited
Automation: • None • None
3 Keys to Email Marketing
Ini7aliza7on Op7miza7on Reten7on Automa7on Win By: • Volume • Content • Data
Key Metrics: • List Size • Send Volume
• Opens • Clicks
• Conversions • Engaged Subscribers • Churn
Key Activities: • Build List • Send Frequently
• Frequent Sends • Content Creation • Dashboard & Reporting
• Contact Strategy • RFM Analysis • Market Basket Analysis
ESP Selection: • Cost • Better Feature Sets • Cost • Integration • Segmentation • Automation
Segmentation: • None • Available But Limited • Advanced • Purchase History • Web History
Automation: • None • None • Post Purchase Welcome Series • Win Back Campaigns • Cross Merchandizing • Reviews
Driving Conversions Through Site, Social & Email
Sally – New Visitor
GolfHQ.com
2nd Visit
1st Visit
3+ Visits
Welcome 1 Welcome 2
Email Captured & 1st Purchase
Makes 2nd purchase
Makes 3rd purchase Becomes a best customer
Best Customer
Content Divider Page 1 Brief description of content division
Questions?
Content Divider Page 1 Brief description of content division
Windsor Circle: 1(877) 848-4113 [email protected] Windsorcircle.com
Spring Metrics: (919) 794-5003 [email protected] Springmetrics.com
GolfHQ: 1(855) 465-3470 GolfHQ.com
Resources: • Download the 2 page lifecycle marketing map
• www.WindsorCircle.com/map
• Download the GolfHQ Spring Metrics case study: • www.SpringMetrics.com/golfhq-case-study/
• Sign up for the GolfHQ.com email list to stay in touch with all future sales, promotions, and new product launches
We will send a link to the recording and the slideshare after the webinar.
