Drive Repeat Purchases with Your Cross-Channel Marketing Program
One of the most-reviewed KPIs for measuring email and SMS program success is the conversion rate. (After all, doesn’t every retail marketer have a revenue goal to meet?) When a digital marketer reviews their conversion rates, they are looking to understand how many click-throughs resulted in a purchase.
It’s a fact that conversion rates increase when targeted messages using specific segmentation and trigger strategies are sent. And contacts are more likely to purchase when they receive the right message, in the right channel, and at the right time. But the opportunity doesn’t stop there – we’ve found that your cross-channel marketing program is the perfect avenue for encouraging repeat purchases after the initial conversion.
You’ve heard the 80/20 rule – it applies here too. On average, 20% of a marketer’s contact list brings in 80% of the total program’s revenue! So, while it’s critical to acquire, nurture, and convert new purchasers, it’s vital to retain these contacts and drive repeat purchase activity to reach your goals. When you factor in a 30% higher lifetime value of those who opt into both email and SMS than a single channel, a refined cross-channel strategy can maximize this opportunity!
Build Customer Loyalty with Targeted Automation Strategies
A post-purchase campaign is one of the easiest ways to encourage additional purchases. This campaign series is marketing-focused and is sent immediately after the purchase with the intent to build brand loyalty. Top retailers usually send a personalized ‘thank you’ message that may even include a coupon to use on a subsequent order. From there, continue the engagement by sending additional messaging encouraging social sharing, leaving a review onsite, and even recommending more products the contact might like. Think of a Post Purchase campaign as that 1:1 conversation a sales associate would have with a customer when they return to the store a second time.
Listrak’s Journey Hub tool allows you to orchestrate emails and text messages in automated campaigns like Post Purchase. Allowing you to reach these highly engaged customers across channels to kick off the retention step in your customer journey. You can even leverage different decision splits to get as granular with your messaging as you’d like. For example, send educational messaging to customers who purchased SKUs that require instruction or an even higher value coupon to your most loyal buyers.
Go Next-Level with Purchase-Based Segmentation
Purchase-based segmentation is another strategy you can take into your broadcast calendar to re-engage your purchasers. This is especially compelling when combined with recency click or browse data to narrow in on previous buyers who have shown more engagement. These contacts have an even higher likelihood of buying again, and one more email or text from you could quickly move the needle.
Using predictive modeling within broadcast segmentation allows you to target a specific audience based on all your data points. I.e., Reach contacts with a high predicted lifetime value, are full-price buyers, are at risk of churning, and are anywhere in between to nurture their next purchase. Make sure to tailor the message copy to these different types of customers directly, load up emails with product recommendations, and even use dynamic content to send multiple campaign variations without setting up several sends.
Cross-Channel Tactics Extend Your Reach
As stated above, when contacts subscribe to receive emails and text messages from a retailer, they have a 30% higher lifetime value than those who only subscribe to one channel. So, prompting opt-in and coordinating marketing efforts together has much power. Aligning Post Purchase and other targeted campaigns with emails and SMS to encourage repeat purchases extends your reach and ensures your messaging reaches contacts’ preferred inboxes.
For those who need a little more nudge to order again, send win-back messages across channels with your best offers. Provide a high percentage discount, gift with purchase, or a curated list of recommended products, triggering that outreach across channels increases the likelihood of engagement by giving your customers more ways to interact.
If you can promote a first purchase through your email and SMS campaigns, you can drive repeat purchases, too! Remember, the top 20% of contacts generate 80% of revenue (on average). Loyal customers make successful businesses! Automate your outreach through targeted triggers, strategically segment broadcast campaigns, and orchestrate cross-channel email and SMS messages to encourage repeat purchase activity. You will surely see your average lifetime value soar!
Get Started Today
If you are a Listrak client, your Account Manager can help you get started with these best-in-class strategies to help you drive loyalty. Not yet on the Listrak platform, learn more about our integrated platform here. We’d love to help you achieve your business goals.