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Customer Retention. Automated

Keep Business in the Front with Predictive Analytics

Posted by Andrew Pearson on May 23, 2016 10:59:43 AM
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Online B2B retailers face different challenges than B2C merchants. There are obstacles and realities in marketing to other businesses that don’t exist for a regular consumer audience. For example, there are often organizational barriers to businesses making purchases such as multiple decision-makers, budget constraints, tax and shipping concerns.Additionally, no two businesses are exactly the same. For instance, B2B retailers that offer replenishable goods to both large and small businesses cannot send replenishment reminders to each of these groups at the same time because their product usage rates will likely be very different. Also, some businesses may be interested in certain items in your product inventory, but will have no use for others, so they should only receive marketing relevant to their needs.

Data-driven marketing can provide solutions to these issues. Having access to predictive analytics creates a strategic opportunity for B2B marketers to reach customers by zeroing in on predicted behavior and triggering email campaigns based on these actions.

Windsor Circle offers predictive marketing solutions to help B2B retailers optimize marketing. Specifically, customer retention, product replenishment, and cart recovery campaigns that incorporate both dynamic product recommendations and predictive reorder dates, can ensure that personalized messaging is sent to customers at exactly the right time.

In this blog post and related case study, we’ll focus on one predictive marketing campaign that has been especially successful for our clients, automated replenishment.

 

mybinding_replenish.pngMyBinding is one of the largest retailers in the US for binding and laminating related products. As a B2B company, they use Windsor Circle to power targeted automated emails to customers based on their purchase history. Using data to automate replenishment messages to their individual customers, MyBinding can know their customers’ needs before they do.

According to MyBinding.com’s VP of Marketing Jeff McRitchie, “Replenishment is really the foundation of our business. We're all about getting people to come back for binding, laminating or other supplies, and it's evolved over the years. When we first started we were doing all batch-and-blast emails. We now have automated emails that go out based upon the individual products customers purchase, and are sent according to the calculated time that it will likely take to use the item.”

Their replenishment messages see great customer engagement, as well as $0.35 revenue per email, which is more than 3x the industry average.

To learn about other top campaigns for B2B retailers, download our new B2B industry case study.

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Topics: Best Practices, Email Marketing