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Customer Retention. Automated

Coining Customer Retention

Posted by Mallorie Moore on Jul 9, 2015 12:00:00 PM

SilverTowne_cping_stats

SilverTowne is one of America’s largest and most respected numismatics dealers of collectible coins and bullion. As a niche retailer, they use Windsor Circle powered automated retention emails to create and deploy personalized, data-driven marketing campaigns that drive increased engagement and repeat purchases from their unique customer base.

Before implementing Windsor Circle, SilverTowne’s email marketing strategy consisted largely of batch and blast emails twice a week with little to no automation. With access to product, purchase, and customer data, SilverTowne has set up over a dozen automated emails to engage with customers at every stage of the lifecycle.

SilverTowne has seen 2.3x the opens (average open rate of 50.7%), 1.8x the clicks (average clicks rate of 10.7%), and 17x ROI from these data-driven automated emails.

SilverTowne serves a niche market so must carefully pinpoint individual customer segments to maximize the effectiveness of their email marketing campaigns. To achieve this goal, three rules are followed:

  1. Meet your customers unique needs,
  2. Say the right thing...
  3. At the right time.

 Tailored messaging that includes new and compelling content is key. Pairing this with personalized product recommendations that make sense to the customer, at the right time, are essential to the revenue SilverTowne generates from Windsor Circle powered automated retention emails.

SilverTowneCLV
Compared to 1-time purchasers, SilverTowne’s Retained Customers spend significantly more.

 

First Purchase Series 

The First Purchase Series is designed to welcome customers into your brand and guide them along to become repeat buyers. The series ushers new customers along a path of increased engagement, resulting in a clear call to action to make their second purchase.

As a niche business, SilverTowne took extra steps in crafting a personalized first purchase experience with extra touch points along the way. In addition to the 3 traditional first purchase emails (thank you, social and product recommendation), SilverTowne implemented a pre win-back strategy consisting of two emails with added dynamic product recommendations specific to the individual customer.

Over a 6 month period, SilverTowne increased opens 128% and clicks 78% from data-driven lifecycle marketing, of which 72.5% of revenue was derived from (non-coupon) automated First Purchase series emails.

SilverTowneopenclickgraph
Average open and click rates for Non-WC batch and blast emails vs. data-driven, Windsor Circle powered emails when comparing two 6-month periods (one prior to and one while using Windsor Circle lifecycle marketing). 
    

For a peek into some of the data fields and email templates that account for 72.5% of revenue generated by (non-coupon) automated emails during a 6-month period, download the SilverTowne Case Study today

 

 

 

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Topics: Best Practices

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