Increase Repeat Purchase Rate
Problem:
Identifying the right customers and the perfect time to communicate with them is often done by gut-instinct. This can often lead to inferior decisions and it can be difficult to measure the effectiveness of these results.
Solution:
This problem is easily approached with Wunderdata in three steps:
- Find out at which point in their lifetime customers stop buying.
- Find exactly who those at-risk customer are.
- Trigger a tailored loyalty marketing campaign and analyze how successful it was.
1. Identify drop-off points
Start by identifying the point at which customers stop buying. The Repeat Purchase chart shows the share of your customers who order repeatedly. Percentage Change spikes point out where customers stop purchasing. In the example we notice a considerable drop between purchase three and four. Let’s focus on this last group of customers.
2. Find who your at-risk customers are
Let’s use the global filter to find exactly who they are and give them an incentive to come back. Wudnderdata can show us the contact details of all customers who ordered more than 3 times, but have not purchased anything in over a month. We can now export this email list and use it for a targeted direct marketing campaign. For example, we can set up a reactivation initiative offering a coupon incentive on the next purchase.
3. Track and Measure
Wunderdata tracks all Parameter Tags via Google Analytics so we can judge our campaign’s success and check if we were able to reactivate our customers. If the campaign goes well, it may make sense to implement it permanently.
