Today’s retail competition is fierce, and shoppers have abundant options. Their expectations are high, and their patience is low.
Remove the guesswork from acquisition and conversion with a customer analytics platform that can answer questions like:
- Am I spending money in the right places?
- Where am I getting my best customers from?
- Which prospects are most likely to convert?
Ad Budget Optimization
We spend a lot on advertising to attract potential customers to our site in the hopes we can convert them. But do you know where you are getting the highest CLV? Where are you acquiring new customers versus advertising to existing customers? By modeling the acquisition of subscribers that turn into customers, you can adjust your ad budgets to drive the most traffic from high CLV sources.
Once you know your best performing acquisition channels, you can get even more targeted in your approach by using predicted future spend to create lookalike audiences out on Google and Facebook. By expanding your lead ad audience, you can increase your chances of acquiring customers that look similar to your highest potential customers.
Getting to the first purchase is only the beginning of the customer journey, so use the power of predictive analytics to shift the tables in your favor. Propensity to purchase models can be paired with a recurring automated campaign that targets non-buyers that have a high likelihood to buy.
Hopefully you can see the power in predictive analytics to take your acquisition game to the next level and set the stage for exponential revenue growth built upon smarter strategies at the top of the funnel.
To learn more about how Listrak can help you supercharge your program with customer analytics, click here.