windsor circle coffeeforless elitesem webinar slides apr 2014
DESCRIPTION
Retention, Perfectly Brewed featuring IR500 CoffeeForLess.com: Winning at Scalability, SEM, & Customer Retention- APRIL 24, 2 PM ET Hear from CoffeeForLess CEO Ben Kirshner about their successful Magento migration, winning SEM strategy powered by EliteSEM, & $500k in 6 months using Retention Automation by Windsor Circle. CoffeeForLess, an IR500 retailer, has been extremely successful in the eCommerce space. CoffeeForLess harnessed the power of online retail while building a loyal customer base. This webinar chronicles key upgrades, strategies and campaigns along their path to success: First CoffeeForLess switched eCommerce platforms, unlocking the flexible, scalable power of Magento. Next, they leveraged EliteSEM to manage a paid search campaign that helped them rise to #495 on the IR500 list. CoffeeForLess then used Windsor Circle's retention automation platform to generate additional value from their existing customers by using their Magento purchase history data to power post-purchase, product recommendation, replenishment, and win back emails which made them over $500k in 6 months. This webinar will help retailers and agencies learn: • How to overcome key scalability challenges • How to develop a winning SEM campaign • How to use purchase data to grow revenue and build a loyal base of repeat buyers. Register here Speakers: Ben Kirshner, CEO at CoffeeForLess.com Ben founded CoffeeForLess.com in 1988 with Zachary Ciperski. Ben credits much of his E-commerce success to the late, legendary, E-commmerce superstar Zachary Ciperski, who championed the value and importance of using Magento data to power better email marketing. Andrew Pearson, VP of Marketing, Windsor Circle Andrew has 15+ years of digital marketing, ecommerce, and tech start-up experience. Andrew oversees Windsor Circle’s marketing efforts and provides thought leadership and strategic guidance to thousands of retailers. Zach Morrison, Vice President, EliteSEM Zach is a SEM industry professional. Moving from intern to VP within 7 years, his eye for growth and ability to form solid relationships has given him a great reputation with Fortune 500 clients.TRANSCRIPT
WINNING AT SCALABILITY, SEM, AND RETENTION
Retention, Perfectly Brewed.
2
TODAY’S SPEAKERS
Ben KirshnerCEO
CoffeeForLess
Andrew PearsonVP of Marketing
Windsor Circle, Inc.
Zach MorrisonVice President
EliteSEM
CoffeeForLess by the Numbers
Winning at SEM• Engagement with EliteSEM• Customer Acquisition with Great ROI
Keeping more customer• Windsor Circle’s solution• $1MM/yr with Retention Automation
Questions
AGENDA
4
SUBMIT YOUR QUESTIONS, WIN $100 CFL GIFT CARD!
5
COFFEEFORLESS.COM
6
COFFEEFORLESS HISTORY
1975 Founded by Jack & Lynn Kirshner as Coffee Serv Inc in
Philadelphia, PA
2001 Began selling online as CoffeeForLess.com
2004 EliteSEM born from CoffeeForLess SEM strategy
2008 Adopted Bronto as email marketing platform
2010 Migrated from In-House platform to Magento
2010 First year in IR500 (#495 in 2013)
2013 Adopted Windsor Circle to power Magento-to-Bronto
integration and retention automation
2014 Inducted into Windsor Circle’s $1MM/yr Club
CoffeeForLess is a pre-eminent
destination for single cup coffee on the
internet.
7
102,053 Global Alexa Rank1st page 100s of Google rankings1,500 Total SKUs425k Monthly Visitors, 201227% Bounce Rate41k Facebook Likes10k Twitter FollowersOver $25k Monthly Paid Search Spend, 2012$10MM 2008 Online Sales$19MM 2012 Online Sales
BY THE NUMBERS
Shipped 1 Millionth
Order in 2013
8
$1MM A YEAR CLUB
$100k/month, $1MM/year+ from Retention Automation
9 PILLARS OF RETENTION MARKETING AUTOMATION
10
9 PILLARS OF RETENTION AUTOMATION
1. Know Your Customers2. Get Connected: Permission to
Retain 3. Thank Your Customers4. Amaze Your Best Customers5. Help Your Customers Enjoy More6. Save Your Churning Customers7. Create Evangelists8. Listen to Your Customers9. Acquire Retainable Customers
ACQUIRE RETAINABLE CUSTOMERS WITH ELITE SEM
Retention Automation Pillar #9
SUBSCRIPTIONRETAIL LEAD GENRETAIL+
PERFORMANCE DRIVEN DIGITAL MARKETING AGENCY SPECIALIZING IN SEM, SEO & EMERGING MEDIA
#1 #1
EVERY YEARSINCE 2007
#1
Non-Branded
Competitor
3rd Party Brands
Branded
PAID SEARCH CUSTOMER ACQUISITION BEGINS WITH TARGETED & SEGMENTED KEYWORD STRATEGY
It is important to build SEM around both non-branded search terms (like “cheap coffee”) and branded terms.
14
1,500 SKUS
Your SEO strategy should aim to send searchers to a page containing the exact product they are searching for.
GROWING BEYOND TRADITIONAL PAID SEARCH TO ACQUIRE NEW CUSTOMERS THROUGH NEW TARGETED CHANNELS
Contextually Targeted Campaigns
Placement Targeted Campaigns
Interest Category Campaigns
Mobile Display Campaigns
YouTube Display Campaigns
Remarketing Campaigns
PRODUCT LISTING ADS GOOGLE DISPLAY NETWORK
USE ADVANCED METRICS TO OPTIMIZE CAMPAIGNS BASED ON NEW CUSTOMERS VS. RETURNING CUSTOMERS
CONCENTRATE ON LIFE TIME VALUE VS. FIRST PURCHASE REVENUE
KNOW YOUR CUSTOMERSRetention Automation Pillar #1
18
RETENTION METRICS
Windsor Circle helps CoffeeForLess track key retention metrics, like AOV, CLV, latency and more by segment, source, and product.
FOCUS ON REPEAT BUYERSTO GROW REVENUE
19
CoffeeForLess has seen a dramatic increase in both the number and percentage of repeat buyers, leading to more dependable revenue from a loyal customer base.
KEY SEGMENTS
20
CoffeeForLess can see key segments in Windsor Circle dashboards.These segments are automatically identified, analyzed, and importedinto CoffeeForLess’ email account on a daily basis.
21
UNDERSTANDING LATENCY
Latency is the time between purchases.As customers purchase more times, their latency tends to decrease.Email cadence and offer timing should map to this dynamic
22
CHURNING CUSTOMER LATENCY
Median latency for “churning customers” is ~80 days.This guides CoffeeForLess’ initial Win Back campaigns, which trigger 90 days after the most recent purhcase.
23
DATA DRIVES PERSONALIZED LIFECYCLE MARKETING
Joe – a first time shopper
CEO welcome email
1st product specific email
Receives product specific re-mail
0
1
5
15
Post purchase thank you
17
1st purchase$5 – filters, $15 – coffee
Days
Thank Help Retain Reward
No purchases
Win-back email1
Win-back email 2
Win-back email 3
90
100
120
1352nd purchase$50 coffee
Having an automated Win-back campaign in place helps ensure that shoppers like Joe don’t disappear forever.
24
AUTOMATING RETENTION
Replenishment email (based on median date for product)
Best customer email (sent after trigger)
Replenishment email (based on predicted order date for Sally)
40
47
49
2nd purchase$20 – tea, $75 - K-cups
90 3rd purchase$125– K-cups
135
140
215
4th purchase$125– K-cups
Sally – a new shopper for her office
CEO welcome email
1st product specific email
Days
0
1
15
1st purchase$22 – tea, $35 – K-cups
5 Post purchase thank you
Thank Help Retain Reward
Replenishment campaigns help ensure that customers get an email before they run out or go to a competitor to replace that item.
25
REAL ROI FROM RETENTION
Win back emails Over $200,000
Replenishments emails Over $150,000
Best customer emails Over $200,000
$500k+
Total revenue
9 Pillars of Retention Automation
1.Know Your Customers2.Get Connected: Permission to Retain 3.Thank Your Customers4.Amaze Your Best Customers5.Help Your Customers Enjoy More6.Save Your Churning Customers7.Create Evangelists8.Listen to Your Customers9.Acquire Retainable Customers
www.windsorcircle.com/9pillars
CoffeeForLess made over $500k in 6 months from just 3 of Windsor Circle’s 9 Pillars.
GET CONNECTEDRetention Automation Pillar #2
NEW CUSTOMER PROMPTS
27
28
PUSH COUPONS
SUBSCRIBERS, PREFERENCES
29
Make sure you collect birthdays and set up an automated birthday message and/or offer.
Also let people opt in or out of categories of messages or products.
30
1 PAGE CHECK OUT
CoffeeForLess uses a single page checkout to make purchasing as seamless a possible.
Note the information they capture about residential vs business shoppers – great for segmenting future marketing.
31
WARM WELCOMES
Welcome email 1Subject: A Warm Welcome from the CoffeeForLess CEO
Sent: immediately after first purchase
*Click rate is calculated as % of delivered emails. Click rate does not include customers who manually entered the promo code on the website.
THANK YOUR CUSTOMERSRetention Automation Pillar #3
THANKING FOR THE FIRST PURCHASE…
Welcome email 2Subject: Thank You For Your Recent Purchase and Welcome to the CoffeeForLess Family!
Sent: 14 days after initial purchase
AMAZE YOUR BEST CUSTOMERSRetention Automation Pillar #4
35
36
BEST CUSTOMER SEGMENT
REWARDING BEST CUSTOMERS
Criteria:• Had not purchased in 75 days• Had 3 or more orders• Spent more than $500
Best customer email Subject: Best customers like you get 7% off
Best customer email results
$200k+
Total revenue
HELP YOUR CUSTOMERS BUY MORE
Retention Automation Pillar #5
39
HELPING CUSTOMERS BUY MORE
Coffee People emailSubject: Love Coffee People? We do too!
Decaf coffee emailSubject: Love Decaf? We do too!
Keurig Email Subject: Love Keurig? We do too!
These emails are automatically sent after a customer buys a specific product for the first time.
POST PURCHASE: PRODUCT SPECIFIC
1st time buyer product specific results
42
AUTOMATED REPLENISHMENT
$150k+
Total revenue
Replenishment Results Subject: Running out? We won’t let that happen! And 5% off.
This is a smart image. Using Windsor Circle data your email can pull in a different image for each customer based on their previous orders.
43
REPLENISHMENT RULES
44
Product Behavioral
PRODUCT & BEHAVIORAL DATA
SAVE YOUR CHURNING CUSTOMERS
Retention Automation Pillar #6
46
CHURNING CUSTOMER SEGMENT
47
KEEPING CUSTOMERS FROM DISAPPEARING
Email 1: sent 90 days after purchase dateSubject: Was it something we said?
Email 2: sent 100 days after purchase dateSubject: Are we still welcome in your inbox?
Email 3: sent 120 days after purchase dateSubject: Is this goodbye?
Results for win-back series
$200k+
Total revenue
49
Win Back with Predictive Algorithm
5th order is placed
Email 1 sent 75 days after 5th order is placed
If Sally does not place a 6th order, email 2 sent 15 days after email 1
If Sally still does not place an order, email 3 is sent 30 days after email 1
PREDICTING THE RIGHT TIME TO WIN BACK
Static Win-Backfor customers with 2 or less purchases
Predictive Win-Backfor customers with 3 or more purchases
Win-back campaign predicted results 3x shoppers
50
PREDICTED WIN BACK RULES
51
WINDSORCIRCLE.COM/PERFECTBREW
1. Know Your Customers: Analyze purchase history
2. Get Permission to Connect & Retain: Opt-in campaign, lightbox email capture
3. Thank Your Customers: Welcome series for new shoppers; Automated post-purchase conversion series; Last year’s holiday shoppers
4. Amaze Your Best Customers: Early bird specials, VIP rewards, personal thanks from CEO.
5. Help Your Customers Enjoy More: Triggered replenishment & product recommendation emails.
6. Save Your Churning Customers: Win-back campaigns based on LTV and recency.
7. Create Evangelists: Social offers, contests.
8. Listen to Your Customers: Ask for preferences, reviews, recommendations.
9. Acquire Retainable Customers: Analyze revenue by source and allocate spend accordingly.
CONTACT US
52
Retention Marketing Automation Platform
Get More from YourExisting [email protected] +1 (877) 848-4113
Retention Marketing Automation Platform
Get More from YourExisting Customers
54
RETENTION AUTOMATION PLATFORM
Your Windsor Circle account provides unprecedented retail insights
Repeat Buyers have 4.8x the lifetime value of one-time customers. Track your path to customer loyalty & retention.
Powerful segmentation tools help you leverage data to send the right message to the right customer at the right time.
55
www.WindsorCircle.com/1MM
CONTACT WINDSOR CIRCLE
Speaker Contact
Information:Andrew Pearson, VP of [email protected]@arjpearson
Windsor Circle, Inc.111 E Chapel Hill StreetDurham, NC 27701(919) 822-2009www.windsorcircle.com@windsorcircle
SUBSCRIPTIONRETAIL LEAD GENRETAIL+
PERFORMANCE DRIVEN DIGITAL MARKETING AGENCY SPECIALIZING IN SEM, SEO & EMERGING MEDIA
#1 #1
EVERY YEARSINCE 2007
#1
CONTACT ELITESEM
Speaker Contact
Information:Zachary Morrison, [email protected]
Elite SEM242 W. 30th Street, Suite 900New York, NY 10001(212) [email protected] @elitesem
THANK YOU FOR ATTENDING!
59