Did you know that improving customer retention by just 5% can increase your e-commerce business profits from 25% to 95%? Retention marketing can enhance your business’s revenue growth and customer acquisition.
Customers who are already familiar with your brand and have had good experiences buy more often. They also tend to spend more than new customers.
Additionally, repeat customers often refer favorite brands to friends and family, bringing in more business. Simply put, a well-researched retention marketing plan is essential for e-commerce businesses.
Retention rates vary by industry. So, it’s essential to research retention rates for your niche and use that data as a benchmark.
Other ways to measure retention marketing success include tracking churn rate, engagement rate, reactivation rate, and customer lifetime value.
But how do you gather this information?
This post covers five top retention marketing tools to help grow, build, and increase profits for your e-commerce business.
Retention Marketing Data: Google Analytics
Google Analytics is a valuable retention marketing analytics tool for collecting visitor insights. You can discover where user traffic originates and engagement trends and track customer purchases and shopping carts.
Additionally, you’ll glean information such as demographics and various consumer behavior analytics to help improve retention marketing campaigns.
Set up Google Tag Manager, which will collect data from the visitor’s web browser. Then you can use the information to qualify and segment traffic and generate customized reports, including:
- Number of users
- Page views
- Average session durations
- Sessions by channel
- Bounce rates
- Goal completions
There are around 200 different metrics and customizations in Google Analytics.
Gamification: Adobe Marketo Engage
Gamification is precisely what it sounds like, using competition and points to encourage customer engagement. Using gamification can improve your customers’ experience and enhance the buyers’ journey.
Some examples of gamification include:
- Leaderboards
- Statuses
- Quizzes
- Badges
- Rewards
Marketo helps you enhance customer experience with behavior tracking and easy-to-build and scale automated retention marketing campaigns.
You could set Marketo up, so your customers receive points for specific purchases. Or, offer badges to repeat customers and brand advocates.
Gamification is a highly effective retention marketing strategy paired with a loyalty program. Fitbit, Duolingo, and Grammarly all use gamification in their marketing strategies.
For example, Grammarly sends weekly writing updates and achievement medals to commemorate premium users’ consecutive weeks of writing.
Customer Relationship Management (CRM): Salesforce
CRMs help businesses build and retain customer relationships at every step of the customer lifecycle. The technology allows companies to make informed decisions using data.
You can track, analyze and store customer information to create a complete customer profile. Salesforce enables businesses to centralize all customer data sources, including emails and VOIP systems, into one location.
What’s more, you can personalize emails to target customers and make them feel as if you wrote the email specifically for them. This retention marketing tool also enables you to customize the content in the email based on your customer’s needs.
Salesforce data integrates with customer service apps like Salesforce Service Cloud, so your team can access customer requests, questions, and complaints.
Considering that 56% of customers say they stay loyal to brands that “get” them, it pays to track this data.
Automate Marketing Flows: Klaviyo
Klaviyo is an email marketing tool that automates marketing flows at every stage of the buyer's journey. This tool is specifically for e-commerce platforms like Shopify and Shopify Plus.
With Klaviyo, you can target specific audiences using behavior, location, profile property, list, order date, and many other metrics.
Klaviyo provides:
- Advanced email segmentation
- Behavior-based automation
- Predictive analytics
- Customizable templates for high-conversion emails
- Targeted forms
Email automation helps Shopify businesses increase sales with targeted emails to shoppers to encourage them to complete their purchases. Klaviyo can also help you personalize customer experiences by segmenting your email list.
Then you can send targeted emails based on a shopper’s behavior, so your business is the one that “gets” them.
Of course, there’s still the matter of the customers who abandon their carts, leaving you with no information for follow-up. Here’s the thing—statistics show over 70% of online consumers abandon their shopping carts before they complete the purchase.
Here’s how you find that missing information.
Reclaim and Reactivate: Retention.com
At Retention.com, we provide retention marketing solutions. Our identity resolution software helps businesses get first-party data from anonymous web visitors.
Even better? You can integrate your Retention.com account with Google Tag Manager, Marketo, Salesforce, and Klaviyo. In fact, we integrate with over 50 platforms to identify those unidentified prospects.
For example, a Retention.com and Salesforce Marketing Cloud integration will automatically send contacts acquired by your Retention.com account to the Salesforce Marketing Cloud into any list you choose.
The technology automatically suppresses existing contacts, so there won’t be duplicates. And you can set up custom filters to sync filters to send leads from various domains to different lists or ESPs.
Cart abandonment emails have a 21% click-through and 11% conversion rate. They help you find out why a customer didn’t make a purchase. Use this information to improve customer experiences and customer service and build brand loyalty.
Retention.com’s Reactivate is another powerful tool to win back customers who have gone dormant. The CEO of Science Natural Supplements, Cody Bramlett, says, “I can easily contribute 25% of our monthly list revenue to this indispensable tool!”
Science Natural Supplements wanted to email dormant email addresses without compromising deliverability to drive ROI and conversions.
The e-commerce company loaded a dormant list into the Reactivate system, then used Maropost to trigger real-time re-engagement emails. They sent inactive subscribers a six-part reactivation flow.
When a dormant subscriber opened the first email, they landed on the active list. On the other hand, if they didn’t open the first email, it triggered the rest of the email flow.
The results were 8x ROI, with a 3x return.
You’ll find more inspiration for your retention marketing campaign in the Rentention.com blog. Be sure to check out our case studies for ideas, as well.
Sources: https://business.adobe.com/products/marketo/adobe-marketo.html
https://www.salesforce.com/crm/