Teleflora + Custora: Using CLV to Drive Sustainable Growth

teleflorawebinar

We recently hosted a webinar with Tommy Lamb, Teleflora’s Director of Loyalty and Retention. Tommy, who has previously held positions at Dermstore, Lucky Brand, and BCBG, walked us through the ways his team is leveraging customer data to drive sustainable growth. Check out the full video below.

Custora’s CEO, Corey Pierson, kicked off the webinar by discussing why customer-centric metrics such as customer lifetime value (CLV) are essential indicators of the health of retailers’ customer databases, and why customer retention is becoming more important than ever.

Tommy then shared four case studies—churn prevention, VIP programs, and two cases of advanced segmentation. In each, he used Custora’s predictive algorithms to select the best audiences at key moments in the customer lifecycle. He explained how he determined which opportunities to pursue, how he began testing offers and creatives, and how he used holdout groups to measure the success of each campaign.

Fill out the form below to get the recording.

Taking the Guesswork out of Marketing – How Guess Uses Predictive Analytics

 

Guess Director of Marketing – CRM, Victoria Grahan, discusses how Custora is helping transform the ways Guess communicates with their customers.

Imagine you’re Victoria Grahan, Director of Marketing – CRM at Guess. You have the resources and support of global fashion brand and you work with a talented team of data-savvy marketers.

Surely you have nailed down marketing analytics and customer segmentation, your email campaigns are micro-segmented and ultra-personalized, and of course, your target CPA (cost per customer acquisition) is as chiseled as the muscles of those Guess models.
Maybe not.
We recently hosted a workshop with Victoria at Fashion Digital New York, where we discussed how a large data-driven organization with a dedicated, sophisticated in-house CRM and analytics team is leveraging external tools like Custora to extend and automate some of their analytics and marketing programs.

Here are a few highlights from Victoria. You can watch the entire 45-minute recording below.
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Sole Society + Custora: 3.5% revenue lift in two weeks using conversion predictions

 

The visibility that we get from Custora in terms of what we should send to whom and when, helps us understand exactly which call to action is most effective for retaining different customer segments.
-Andrea Wasserman, CEO of Sole Society

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A Conversation with BaubleBar: Holiday E-commerce Marketing

Becca Freeman, Senior Manager, Digital Marketing at BaubleBar

 

We recently hosted a webinar with Becca Freeman, Senior Manager, Digital Marketing at BaubleBar. Launched in 2011, BaubleBar has quickly become an online destination for fashion jewelry, due largely in part to their unique sourcing capabilities. BaubleBar leverages real-time data to design products corresponding to current consumer trends.

Becca manages BaubleBar’s customer acquisition and email marketing programs. She talked to us about BaubleBar’s use of data and customer insights, as well as their upcoming holiday strategy. Here are a few highlights – you can get the entire recording below.

(We’re also hosting another webinar this week, discussing data-driven email marketing techniques from top retailers like Guess?, Nasty Gal, and Sole Society – register here).

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How Optimizing your SEM Customer Acquisition with CLV can Triple your Revenue

datasauce-logo

Search Engine Marketing (SEM) is a bread and butter way to acquire new customers. You bid a certain amount per click, impression, or acquisition, and in return you get new visitors to your site. The key with SEM, as with any marketing channel, is to make sure that what you pay for new customers isn’t taking too big of a bite from your profits.

One of Custora’s customers, DataSauce, recently confronted this very issue. How could their client, “The Unusual Pea,” still profitably acquire customers despite low profit margins and thus a smaller budget for acquisition?

Read on for the summary of our recently published case study, and download the full case study below.

The Setup

DataSauce is an e-commerce and digital marketing consultancy based in Melbourne, Australia. They’re passionate about helping businesses reach the right customers with the right message at the right time. The Unusual Pea is a pseudonym for DataSauce’s client, who asked to remain anonymous. Despite the bit of mystery, we do know some key facts: They are an online food seller that services multiple locations in Australia, and are known for their insistence on food quality and the best ingredients.

The Challenge: Low margins. Low customer acquisition.

The Unusual Pea hired DataSauce to help them bring in more customers through advertising on Google AdWords. DataSauce’s first hurdle was The Unusual Pea’s low profit margins. Their average order is for a single diner who spends around $20, with The Unusual Pea’s profit amounting to $5, a slim margin. What this meant for DataSauce was that they could only justify a $5 or less Cost Per Acquisition (CPA) through Google AdWords to acquire new customers.

The Solution: Looking beyond the first order.

The lightbulb moment for DataSauce was when they turned to Custora to unlock the power of repeat purchasers and customer lifetime value (CLV). Armed with information about CLV, as well as the average repeat rate for their customers, DataSauce saw that instead of spending under $5 to acquire each customer, they could actually spend as much as $20.50 to profitably acquire a new customer.

The Results: Investing double and tripling revenue.

With Custora’s predictive CLV modeling, DataSauce felt confident setting their target at $10 CPA – double their initial investment. They assumed that spending twice as much on AdWords would double revenue. Happily for everyone, revenue tripled. In hindsight, that made sense: The higher CPA put them above the competition by ensuring that their ads were displayed more often, and allowed them to get better at identifying the keywords that brought in new orders.

According to Tzvi Balbin, Founder of DataSauce, “I can now say with conviction that the most important metric I measure is the CLV. For any direct marketer, it’s critical in guiding your data-driven decisions.”

To download the full case study, fill in the form: