The cycle of endless promotions. Margin compression. Disco(unt) fever. We all feel it.
Every year it gets harder for businesses to hit their comps without resorting to promotions. We’d call it a dog-eat-dog world, but all the dogs we know are actually pretty friendly.
In any case, it’s a crummy cycle—one that Custora’s been hard at work to break. We’re excited to roll out two new forms of segmentation that help retailers drive growth and maximize the value of customer relationships, all while stemming the discount tide.
Discount sensitivity segmentation separates customers based on how they respond to discounts. Discount seekers, discount opportunists, or full-price shoppers – now Custora provides visibility into each customer’s predicted promotional behavior. The result is a better customer experience with fewer promos.
Teleflora is a floral delivery company based in Los Angeles. They partner with over 13,000 florists throughout the United States and Canada and are the only company in the space that provides hand-delivered, hand-arranged, ready-to-display bouquets 100% of the time.
As a company in a commoditized industry, Teleflora is challenged with differentiating itself from other flower delivery services. Many customers do not even remember which flower company they bought from, since they are generally purchasing a gift for someone else, says Tommy Lamb, Teleflora’s Director of Loyalty & Retention. The team wanted to find a way to increase top-of-mindedness and repeat purchase rate and to stand out from Teleflora’s competitors.
I have a confession to make. I was a personalization junkie. As the head of marketing for a website testing company that became one of the first to make the shift to personalization, I was addicted to the promise of personalization. But after spending years working with retail brands looking to implement personalization, I have another confession to make—personalization technology alone will not deliver the results that you are looking for.
On Wednesday, we hosted part 5 of 5 of our Webinarch Madness series. Two Custora customers, Ben Hemphill (VP of Digital Marketing, Crocs) and Kelly Goldston (VP of Marketing, Eloquii) walk through how they are using advanced customer analytics to drive their businesses. Ben discusses how Crocs is acquiring, retaining, and increasing purchase frequency using insights generated from their data. Kelly talks about using data to inform their catalogue, editorial content hub, and email segmentation.
Check out the video below.
As part 4 of 5 in our series of Webinarch Madness, we chatted with Bronto about strategies for driving online revenue across the customer lifecycle—from acquisition to cultivation to retention. Some of the tactics discussed included lookalike targeting, welcome series segmentation, VIP campaigns, and churn prevention.
Bronto and Custora shared case studies on how their customers are using these tactics to drive growth.
Fill out the form below to get the recording.