A customer you keep is a customer you don't have to find. These days it can take anywhere from 3-5 purchases before a customer has paid for their cost of acquisition (CAC), so doesn't it make sense to keep your customers? One of the emails that we at Windsor Circle touch on fairly often is the Win-Back campaign - a way to save your high value, churning customers. Generally a Win-Back campaign consists of 3 emails that are sent over a set period of time (based on a retailers latency data) with escalating offers and language.
Pennington & Bailes, an apparel retailer specializing in designing, manufacturing, and marketing high quality, classically styled clothing (and maker of our green pants), took this framework one step further and created two Win-Back Campaigns. One for 1x - 2x purchasers and one for 3+ purchasers. The reason behind this? They wanted to utilize predictive analytics, more specifically the predicted order date field for their 3+ purchasers. As long as a customer has purchased from a retailer 3 or more times we can predict, automatically, when they are likely to place another order. Using this data field, Pennington & Bailes sends an email to this cohort based on each individual customer's personal buying habits.
While both the static and predictive Win-Back Campaigns have both performed extremely well, the predictive Win-Back Campaign for 3+ purchasers has exceeded expectations with open rates of 39% and click rates of 8.3%. Now, as a reminder, Pennington & Bailes is seeing an 8.3% click rate from their disengaged customers, which is unheard of. How does this compare to the static Win-Back? The 1x-2x purchaser Win-Back series sees open rates of 24% and click rates of 3.5% which is still fantastic, but it's no 8.3%.
Pennington & Bailes also incorporates predictive analytics into their emails with dynamic product recommendations. They use the field WC_Hot_Combo to auotmatically pull in a product recommendation for each cusotmer based on what they've purchased in the past. For example, if someone buys the stadium pant, the hot combo item might be the stadium polo.
Download the full case study to learn more about Pennington & Bailes' Win-Back strategy and get access to the results and emails they deploy as part of their Win-Back campaigns.