Customer Retention - The Card Factory
The Card Factory
The Card Factory
Converting single purchase customers to 2nd purchase key to retention for The Card Factory
Many retail clients with large customer databases have high levels of single purchasers.
Understanding customer purchase behaviour and developing insight led CRM Marketing plans was the key to driving overall retention levels up.
As with all Customer Relationship Marketing, moving customers through the purchase frequency funnel delivers higher levels of retention & value. Card Factory had a high level of purchasers who shop only once, turning the dial on 1st to 2nd purchase would be a key focus to driving retention rates and ROI up.
Our proposal was focussed and simple – we would need to understand the purchase habits of these customers – to target them with the right message at a time to stimulate another purchase.
So, we undertook data analysis to understand the purchase intervals and the products purchased in each basket for both one-off and multi-purchase shoppers.
The analysis identified some very clear patterns in products shopped from the very first basket and could confirm that the average time to re-purchase from 1st to 2nd was twice as long as the client had previously thought.
We developed a simple segmentation that could be overlayed onto the current CRM Marketing activity to deliver more relevant communications to single purchase customers. We also made changes to their 1st to 2nd trigger timings,
The analysis also showed the significance of the app and another key conversion tactic, so we developed plans to ensure more customers signed up for these.
The above activity has started to improve the 1st the 2nd conversion and overall retention.