Customer retention activity

Hi Richard

It depends what you already know about your customers but I would suggest you use predictive models running in the background to identify who your customers are who have highest risk of lapsing - using these risk profiles you can create differentiated treatment strategies according to whether they are high risk or low risk e.g. via personalised banners or email. 

Depending on the data you have currently on your customers, research is a good way of capturing additional insight which may make the models and profiles stronger to target more relevant offers (thus increasing response and improving cost effectiveness).

Steve

On 09:22:07 18 April 2008 sonu wrote:

 

I am an online only clothing retailer

Ihave recently completed phase 1 of my customer acqusition campaign; this involved optimising my current site for search engines, PPC campaign and re-engaging with affiliates - offering an additonal 5% based on new activity in the first month. I undertook a hygiene audit of my site, so any new traffic that came through found the site good to use.

I am looking at my retention strategy at present; I feel that to keep my customers I want to make their website experience better, I am looking to add value through interactivity on the site. I am thinking of building the functionality so if someone buys an item they can add other items to see how this will look on screen. will of course do the basics like send opt in e-mails to customers to offer them a discount on purchases. Enhancing the website seems the best route.

What other tools or activities should I be looking at. Research?

 Please advise.

Richard