BFCM Series #4: How to Drive Post-Holiday Customer Retention

November 16, 2020
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Abby
Perkins
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Video

Overview

This year, Glew is hosting a series of webinars designed to help you get the most out of your BFCM data, and use it to develop successful strategies for this holiday season and beyond.

Over the course of 6 weeks, we’re hosting four sessions that will take you from your initial BFCM strategy to acquiring the right customers and understanding how to retain them, even after the holidays are over.

For our fourth session, we're covering how to use data to turn your holiday shoppers into longtime customers, and successful strategies for customer retention long after BFCM. We go over:

  • Why it's critical to have a data-driven strategy for customer retention around (and after) the holidays
  • How to identify this year's holiday shoppers and their buying behaviors, including products purchased and attribution channels
  • Using lapse point and customer status to develop smart strategies for retention
  • The best channels and technologies for customer retention and how to track them, including email, SMS and more
  • How to set yourself up for stronger long-term relationships with the right upfront experience
  • Inspiration: Who's winning at driving meaningful customer relationships today?

View our slides from the third session here.

Quick hits

  • 2:16: Topic overview: using data to drive retention and turn holiday shoppers into longtime customers
  • 3:45: Why it's critical to focus on retention around the holiday season - building relationships with and driving more value from your holiday shoppers
  • 6:49: How to identify who your first-time holiday shoppers are, and how to identify the best prospects for retention
  • 8:12: Segmenting customers by first order date (for holiday season, BFCM weekend, etc.) and identifying unique characteristics - channel data, converting products, AOV and more
  • 12:15: Using lapse point to understand the optimal amount of time you have to drive repeat purchases
  • 14:25: Identifying your customers who are active, at-risk and lost and using lapse point to develop targeted retention strategies - add value with a light touch for active customers immediately post-purchase, and use a higher touch with at risk or lost customers to drive them to purchase again
  • 18:10: The best technologies and channels for driving customer retention, including ESPs like Klaviyo, Mailchimp, Drip, and Listrak, loyalty programs like LoyaltyLion and Smile.io, SMS marketing like Attentive, reviews and UGC like Yotpo and more
  • 21:19: Tracking KPIs for retention and how they might be different from acquisition KPIs - engagement with emails or loyalty programs, product reviews, repeat purchases, lifetime value
  • 25:20: Best practices to set yourself up for successful retention now - make a winning first purchase experience to prime your customers for retention, including an easy checkout process, clear communication and expectations around delivery, a seamless feedback and return process, and thoughtful post-purchase communication
  • 28:30: Winning strategies to drive customer retention, including subscription discounts for best-selling products, smart post-purchase communications, high-value loyalty programs, referral programs and community-building content
  • 35:40: Final tip: create a segment of high-revenue first-time purchasers to retarget them with a "thank you" email or ad

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