Online Retailers Can Now Personalize Retention Marketing Campaigns Based on Individual Consumer Behaviors
Retention Science, a leader and innovator in retention marketing, announces SmartSegments, a new product designed to help online retailers more effectively personalize their retention marketing campaigns by grouping customers into specific market segments. By applying filters such as likelihood to convert and predicted order value, online retailers can understand what their customers want and which offers to extend to them.
Segmenting through SmartSegments can also help retailers detect the factors leading to greater brand loyalty and build programs that turn loyalists into advocates. “Big data is nothing but a buzzword unless it can be easily and quickly dissected and applied to marketing initiatives,” said Jerry Jao, CEO of Retention Science. “Using conditional statements, SmartSegments enables online retailers to slice and dice their data in real time, delivering the type of personalized email communication that drives sales and engenders customer loyalty.”
SmartSegments is simple and quick to use. Online retailers select as many refining criteria needed to target a particular customer segment and create highly personalized campaigns that speak to each group. The retention marketing campaigns are sent directly from the Retention Science dashboard, eliminating the extra step of importing the new, targeted list into an email management system. Retailers are able to create their own filters based on the customer data they have available, or they can use any combination of pre-programmed filters, which include:
- Predicted Customer Lifetime Value
- Likelihood to Convert
- Predicted Order Value
Early adopters of SmartSegments are reporting a 15 to 20 percent increase in click-through rates. “Consumers today expect brands and retailers to know and appreciate them,” continued Jao. “By customizing campaigns and providing offers based on their personal buying habits, retailers can retain these customers and increase their lifetime value.”