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.
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Tim Grace, VP eCommerce at The Tie Bar, talks about using data and optimizing online marketing to grow a successful e-commerce brand.
We recently published The Custora E-Commerce Pulse High-Growth Fashion Index: A new report analyzing 20+ fashion and lifestyle retailers that grew their online revenue and transactions the most in 2014. Our goal was to understand what makes these high performance retailers different from everyone else, resulting in a growth rate that is almost double the industry average. Some of the findings are straight-forward — e.g. using data effectively is a must — while others are more surprising: e.g. for the best retailers, 27% of new customers make a second purchase within 60 days of their first purchase. You can download the full report here.
Recently, we hosted a webinar with one of the brands featured in the report. Tim Grace, VP eCommerce at The Tie Bar, went “on the record” and shared advice and tips on building and growing a successful e-commerce brand.
Below are highlights from the interview, lightly edited for brevity and clarity. You can listen to the entire interview or get the accompanying deck (PDF) below.
One of the things I like the most about my job at Custora is building our research platform, The Custora E-Commerce Pulse. I get to work with dozens of e-commerce retailers, geek out over their data, and interview the best & brightest minds in e-commerce and digital marketing (by the way, if this sounds like your idea of fun, we’re hiring).
Introducing The Custora E-Commerce Pulse High-Growth Fashion Index: A new research report analyzing 20+ fashion and lifestyle retailers that grew their online revenue and transactions the most in 2014.
We’re trying to transition into a type of marketing that produces customers who are going to be more loyal, instead of optimizing for the initial sale. — Tim Grace, VP eCommerce, The Tie Bar
US e-commerce is growing fast, with revenue up 14.9% in 2014 according to the The Custora E-Commerce Pulse — a free online dashboard tracking online transactions from over 100 US retailers, 500 million shoppers, and over $80 billion in transaction revenue.
However, this average growth figure masks that some online retailers are growing much, much faster. For this report, we analyzed some of the fastest-growing online fashion, accessories, and lifestyle retailers based in North America. Our goal was to understand what makes these high performance retailers different from everyone else, resulting in a growth rate that is almost double the overall average.
We have to create an experience where customers want to tell us more about themselves. — John Tucker, VP of Member Experience, Trunk Club
Andrea Wasserman, SVP Digital for Hudson’s Bay and Lord & Taylor, and former CEO of Sole Society, recently spoke at a dinner Custora hosted for the e-commerce and marketing community in New York City. The dinner was part of our efforts to facilitate a community of retail marketers, and promote learning and sharing across brands. We were excited to host marketers and e-commerce leaders from Tiffany’s, Bonobos, Chanel, Blue Fly, Steve Madden, Amazon and others for an insightful (and delicious) evening at Upland restaurant in Flatiron.
At dinner, Andrea discussed her experience as leader of an emerging fashion brand along with her experiences at her current senior role with one of the world’s most prominent retailers.
You can watch the short teaser video of her discussion with Custora Co-Founder Corey Pierson below (watch the full presentation at the end of this post).
Watch the rest of the interview below.
In the full video interview, Andrea and Corey cover a range of topics, including:
- The role of data in e-commerce marketing strategy and execution
- The interplay between data and qualitative insights
- The key metrics for appealing to investors in a small company
- The challenges of serving the omnichannel, omni-device shopper
- How to approach hiring the e-commerce leaders of tomorrow
Fill in your details to watch the full interview.