Plugging In: Utilizing Predictive Analytics to Increase AOV & CLV
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CablesAndKits used predictive analytics and marketing automation provided by Windsor Circle to increase customer lifetime value (CLV) and average order value (AOV). They implemented segmented email campaigns and predictive win-back series. This led to a 23% increase in CLV and 27% increase in AOV for the average purchaser. The predictive win-back series generated 7 times more revenue with 50% higher open rates and 300% higher click rates compared to traditional win-back campaigns. Overall, CablesAndKits achieved a 14 times return on investment from implementing Windsor Circle's platform.
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Plugging In: Utilizing Predictive Analytics to Increase AOV & CLV
- 1. Plugging In Using Predictive Analytics & Marketing to Drive AOV and CLV Increases
- 2. Speakers: Jason Gazaway Jonathan Lessen Andrew Pearson Marketing & Branding Manager, CablesAndKits Client Success Manager, Windsor Circle VP of Marketing, Windsor Circle
- 3. Agenda About CablesAndKits Predictive Analytics Results: Increasing AOV & CLV Questions
- 5. Reliable and Fast Integration
- 6. Example Data Fields and Segments Customer Fields - First Order Date - Purchase Last Order - Predictive Order Date - Coupon History - Hot Combo
- 7. Example Data Fields and Segments Customer Fields - First Order Date - Purchase Last Order - Predictive Order Date - Coupon History - Hot Combo Product Data - Product Title - Product Category - Replenish Date - Product Brand - Product SKU
- 8. Example Data Fields and Segments Customer Fields - First Order Date - Purchase Last Order - Predictive Order Date - Coupon History - Hot Combo Order Fields - Order Time - Ship Method - Coupon Codes - Discount Amount - Ship Zip Product Data - Product Title - Product Category - Replenish Date - Product Brand - Product SKU
- 9. Example Data Fields and Segments Customer Fields - First Order Date - Purchase Last Order - Predictive Order Date - Coupon History - Hot Combo Order Fields - Order Time - Ship Method - Coupon Codes - Discount Amount - Ship Zip Product Data - Product Title - Product Category - Replenish Date - Product Brand - Product SKU Key Segments - Non Purchasers - 1x & 2x Time Purchasers - Best Customer - Win Back - Predictive Win Back
- 10. CablesAndKits’ Team Jason Gazaway, Marketing & Branding Manager Chris McCoy, E-Commerce Director Shanyce Watkins, Marketing Coordinator Jeremy Sloan, Marketing Graphic Designer
- 11. CablesAndKits Email Redesign Implemented in Feb., 2014
- 12. CablesAndKits Email Redesign Revamped in March, 2015 Implemented in Feb., 2014
- 13. Retention Automation Marketing Package (RAMP)
- 14. Agenda About CablesAndKits Predictive Analytics Results: Increasing AOV & CLV Questions
- 15. Non-Purchase Series This 3-part Non Purchase Introduction Series is triggered using the following criteria: • Email 1 – • Welcome • 8 hours since introduction
- 16. Non-Purchase Series This 3-part Non Purchase Introduction Series is triggered using the following criteria: • Email 1 – • Welcome • 8 hours since introduction • Email 2 – • Social Engagement • 4 days after introduction
- 17. Non-Purchase Series This 3-part Non Purchase Introduction Series is triggered using the following criteria: • Email 1 – • Welcome • 8 hours since introduction • Email 2 – • Social Engagement • 4 days after introduction • Email 3 – • Value Add • 6 days after introduction
- 18. Segmentation and Revenue: All Customers
- 19. Segmentation and Revenue: 1x Purchasers
- 20. First Purchase Series This 2-part 1st Purchase Series is triggered using the following criteria: • Email 1 – • Post purchase thank you • 3 days after 1st purchase
- 21. First Purchase Series This 2-part 1st Purchase Series is triggered using the following criteria: • Email 1 – • Post purchase thank you • 3 days after 1st purchase • Email 2 – • Brand awareness & social engagement • 10 days after 1st purchase
- 22. Segmentation and Revenue: 2x Purchasers
- 23. 2nd Purchase Series This 3-part 2nd Purchase Series is triggered using the following criteria: • Email 1 – • Service • 3 days after 2nd purchase
- 24. 2nd Purchase Series This 3-part 2nd Purchase Series is triggered using the following criteria: • Email 1 – • Service • 3 days after 2nd purchase • Email 2 – • Quality • 9 days after 2nd purchase
- 25. 2nd Purchase Series This 3-part 2nd Purchase Series is triggered using the following criteria: • Email 1 – • Service • 3 days after 2nd purchase • Email 2 – • Quality • 9 days after 2nd purchase • Email 3 – • Availability • 14 days after 2nd purchase
- 26. Segmentation and Revenue: 3+ Retained
- 27. Win Back Campaign This 3-part Win Back Campaign is triggered using the following criteria: • Email 1 – • 120 days after most recent purchase
- 28. Win Back Campaign This 3-part Win Back Campaign is triggered using the following criteria: • Email 1 – • 120 days after most recent purchase • Email 2 – • 240 days after most recent purchase
- 29. Win Back Campaign This 3-part Win Back Campaign is triggered using the following criteria: • Email 1 – • 120 days after most recent purchase • Email 2 – • 240 days after most recent purchase • Email 3 – • 360 days after most recent purchase
- 30. Predictive Win Back Series This 3-part Predictive Win-Back Series is triggered using the following criteria: • Email 1 – • 45 days after predicted order date
- 31. Predictive Win Back Series This 3-part Predictive Win-Back Series is triggered using the following criteria: • Email 1 – • 45 days after predicted order date • Email 2 – • 90 days after predicted order date
- 32. Predictive Win Back Series This 3-part Predictive Win-Back Series is triggered using the following criteria: • Email 1 – • 45 days after predicted order date • Email 2 – • 90 days after predicted order date • Email 3 – • 120 days after predicted order date
- 33. Emails Sent by Win Back Series’ Comparing the Win Back Series’ The Win Back Campaign targeted for 1x and 2x purchasers sent more than 3x the amount of emails to its respective, segmented list than did the Predictive Win Back Series
- 34. Comparing the Win Back Series’ Emails Sent by Win Back Series’ Revenue Generated by Win Back Series’
- 35. Revenue Generated by Win Back Series’ Comparing the Win Back Series’ The Predictive Win Back Series generated almost 7x more revenue since implementation CablesAndKits generates 88% of their revenue from repeat customers
- 36. Open and Click Rates by Win Back Series’ Comparing the Win Back Series’ The Predictive Win Back Series is experiencing approximately 50% higher open rates with 3x the click rates
- 37. Baseline Metrics
- 38. Baseline Metrics Average Promotional: Open: 9.0% Click: .66%
- 39. Baseline Metrics Win Back Segment Non Purchase Segment First Purchase Segment Second Purchase Segment Best Customer Segment Average Promotional: Open: 9.0% Click: .66%
- 40. Agenda About CablesAndKits Predictive Analytics Results: Increasing AOV & CLV Questions
- 41. AOV for the average purchaser increased 27% Median Average AOV by Number of Purchases Average Order Value
- 42. AOV for the average purchaser increased 27% We hypothesize AOV to increase over time because repeat customers trust your brand more, spend more as they get comfortable with you, and discover more of your inventory that they are interested in Median Average AOV by Number of Purchases Average Order Value
- 43. Customer Lifetime Value CLV for the average purchaser increased 23% Median Average CLV by Number of Purchases
- 44. Customer Lifetime Value CLV for the average purchaser increased 23% Median Average CLV by Number of Purchases CLV helps predict the future worth of a certain customer based on number of purchases. CablesAndKits’ data demonstrates the high need for retention, as repeat purchasers bring about a larger value, or portion of revenue, that cannot be forgone
- 45. Increased Open & Click Rates
- 46. 14x ROI $ $$$$$ $$$$$ $$$$ Implemented Windsor Circle’s Platform in February, 2014
- 47. Agenda About CablesAndKits Predictive Analytics Results: Increasing AOV & CLV Questions
- 48. Content Divider Page 1 Brief description of content division Windsor Circle: 1-877-848-4113 sales@windsorcircle.com WindsorCircle.com CablesAndKits: 1-888-550-5619 CablesAndKits.com Resources: • Download the CablesAndKits case study: • www.WindsorCircle.com/CablesAndKits • Sign up for the CablesAndKits email list to stay in touch with all future sales, promotions, and new product launches We will send a link to the recording and the slideshare after the webinar.