using ecommerce data to significantly boost conversions and roi
Post on 09-May-2015
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DESCRIPTIONSean Godier, VP of eCommerce for Business-Supply.com, has generated significant lifts in conversion rates and ROI by leveraging eCommerce data to send the right message to the right person at the right time. He was able to instantly sync his shopping cart data from AspDotNetStorefront to Bronto, which then enabled him to fully utilize powerful tools in the Bronto platform to achieve impressive results. Sean will cover RFM Segmentation (best customers, churning customers), automated replenishment campaigns using Bronto's Workflow feature, and share specific performance statistics to demonstrate the success he's had by practicing "Engaged Commerce."
- 1.Using Ecommerce Datato Significantly BoostConversions and ROISean GodierVP, EcommerceBusiness Supply
2. The Value of Targeting Targeting delivers increased valueRFM AnalysisRecency, Frequency, Monetary (and Spend) Other ways to measure Consistently relevant, lower complaints, higher AOV 3. Meet RFM Analysis Recency Number of days or months since last purchase Frequency Number of purchases made Monetary Value Amount spent by a customer 4. First, Sort and Split RecencyQuartile 1 (R=1)Quartile 2 (R=2)Quartile 3 (R=3)Quartile 4 (R=4) 5. Continue with Frequency &MonetaryQuartile 1 (F=1) Quartile 1 (M=1)Quartile 2 (F=2) Quartile 2 (M=2)Quartile 3 (F=3) Quartile 3 (M=3)Quartile 4 (F=4) Quartile 4 (M=4) 6. Best Customer (R1-F1-M1)Quartile 1 (R=1) Quartile 1 (F=1) Quartile 1 (M=1)Quartile 2 (R=2) Quartile 2 (F=2) Quartile 2 (M=2)Quartile 3 (R=3) Quartile 3 (F=3) Quartile 3 (M=3)Quartile 4 (R=4) Quartile 4 (F=4) Quartile 4 (M=4) 7. Marketing to Best Customers (R1-F1-M1)Exclusive preview of new products.Early access to limited inventory.Exclusive discounts or offers.Free gift for best customers.Recency (Top Quartile)We Love You Monetary FrequencyYoure The Best Value(Top Quartile) (Top Quartile)Thank you!Exclusive Just for you! 8. Churning Clients (R4-F1-M1)Quartile 1 (R=1) Quartile 1 (F=1) Quartile 1 (M=1)Quartile 2 (R=2) Quartile 2 (F=2) Quartile 2 (M=2)Quartile 3 (R=3) Quartile 3 (F=3) Quartile 3 (M=3)Quartile 4 (R=4) Quartile 4 (F=4) Quartile 4 (M=4) 9. Marketing to Churning Clients (R4-F1-M1)Win Back Campaigns.Aggressive Discounts to Re-engage.Incentivized Reviews / Surveys.RecencyPersonal Appeals from Execs.(BOTTOM Quartile)MonetaryFrequencyWe Miss You! Value (Top Quartile)(Top Quartile)Baby, Come Back!$25 Gift Card for Survey 10. One Foot Out the Door Challenge: Churning Customers Solution: Automated Win BackResults: 20% re-engagement 11. Rewarding LoyaltyTarget: Best CustomersSegment: RFMS =