As a retailer, you know how difficult it can be to turn non buyers into one-time buyers, and more importantly, one-time buyers into repeat customers. When looking at the customer journey, we can see how crucial it is to target customers after they have purchased in your marketing strategy. By targeting customers after they have purchased, we cover three facets of the customer journey. Watch the below video to get started:
THE CUSTOMER JOURNEY
After a customer has purchased from you, you can target them at the following stages of the customer journey: conversion, loyalty, and reactivation.
INTERPRETING THE BAYES NET ANALYSIS
The Bayes Net Analysis grid displays the likelihood that a customer will make a purchase within the stated time frame and will move up the frequency ladder of the LifeCycle Grid. The percentages are based on a normalized 30-day window for prediction. Navigate to the Bayes Net Analysis in the Listrak application by following the below steps:
Navigate from the home menu to Solutions.
Then LifeCycle Grid.
Click on the Bayes Net Analysis tab.
The X-axis represents the amount of time that has passed from the customer's last order. The Y-axis represents the number of orders a customer has made. As you can see below, targeting customers after their first purchase makes them twice as likely to purchase a second time. Adding campaigns to target these different types of customers should be a key component in your strategy.
IDENTIFYING CUSTOMER GROUPS
You can separate the Bayes Net Analysis grid into the following four groups of customers:
Recent New Purchasers
Lapsed Loyal Customers
Lapsed Non Engaged
POST PURCHASE STRATEGIES
Loyal Customers: Send those who have purchased three or more times a loyalty message thanking them for their commitment to your brand.
Recent New Purchasers: Give this group some welcoming love with a simple message thanking them for their recent purchase and letting them know how much we appreciate them.
Lapsed Loyal Customers: Let loyal customers that have lapsed in their purchasing know that you miss them and are eager to serve them again.
Lapsed Non Engaged: Incent this non-responsive group with your best offer and a catchy subject line. If that doesn't catch their attention, what will?
You can and should target these individual groups in very meaningful ways using different types of campaigns.