How to Send Great Win-Back Email Campaigns

Posted by Hannah Stacey 19 Mar 17

We’ve all heard it before: acquiring a new customer is usually more costly than getting an already-acquired customer to repurchase. Alright, we know, we get the picture.

But given that we all know how valuable repeat customers are, it’s surprising how little effort many online retailers put into re-activating customers that have dropped off the radar, especially those who have been great customers in the past. Surely getting these guys on board is an easy win, no?

Losing a few customers here and there is part and parcel of running an online store, but by not putting some legwork to win back lapsed customers, online retailers are missing out on an important revenue-making opportunity.

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Topics: Ecommerce customer retention, Ecommerce marketing tips, win back email campaigns

How to Calculate Customer Lifetime Value (CLV) in Ecommerce

Posted by Edward Gotham 24 Feb 17

Customer lifecycle value What is customer lifetime value?

We all stumble through life clutching onto the fuzzy memories of those pesky Pythagoras and algebraic theorems that haunted many a youth, andwith rare use cases in present day lifethey normally end up getting filed and forgotten. 

Enter customer lifetime value: the only equation you need to remember.  

In ecommerce, CLV is the value a customer contributes to your business over their entire lifetime at your company.

The main methods of calculating CLV are split between historic and predictive CLV:

  • Historic CLV (Good indication of CLV)  

    Simply the sum of the gross profit from all historic purchases for an individual customer.

  • Predictive CLV (Great indication of CLV) 

    A predictive analysis of previous transaction history and various behavioural indicators which forecasts the lifetime value of an individual. As long as the equation is accurate, this value will become more accurate with every purchase and interaction.

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Topics: Ecommerce metrics, Ecommerce marketing resources, Ecommerce customer retention, Customer lifecycle marketing, Ecommerce marketing strategy, Ecommerce marketing tips

Browse Abandonment 2.0: Everything Ecommerce Marketers Need to Know

Posted by Abi Davies 30 Sep 16

Edit_Blog_Post___How_to_avoid_a_browse_abandonment_disaster-1.pngWe’ve all been there: you look at an item online, decide you don’t like it, but continue to be hounded by retargeting ads wherever you click for the following five months. Or you buy your boyfriend a birthday present online only to receive a menswear recommendation a few weeks later in an em
ail incentivising you to come back (...despite your long history of womenswear purchases on that same site). 

Nothing spells insincere like a brand that doesn’t know its own customers. 

It doesn’t have to be this way. For this blog post, Ometria’s head of product, Djalal, and head of ecommerce, Paul Henri, explain how - using the single customer view  - you can effectively retarget visitors to your site using a combination of different channels.

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Topics: Ecommerce customer retention, Ecommerce personalisation, browse abandonment campaign

How to identify your best customers

Posted by Abi Davies 12 Jul 16

identifying VIP customers
There’s a reason why, in the world of ecommerce, a brand’s best customers are referred to as VIPs. Those who invest a lot of time and money in your brand are very important people indeed, and are key to the overall success of your business.

Why? Just take a look at the perennial Pareto Principle, also known as the 80/20 rule. Named after Italian economist Vilfredo Pareto, this principle states that around 80% of the output from any given situation is determined by just 20% of the input.

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Topics: Ecommerce metrics, Ecommerce customer retention

How to Calculate Customer Retention Rate in Ecommerce

Posted by Huw Jenkins 10 Jun 16

Customer retention ratePut simply, customer retention rate is a marker of how loyal your customers are. 

Essentially, what it does is take a group of customers that shopped with you in some historical period of time (e.g. 12-24 months ago) and determine the proportion of those customers that you'd still consider active now because they've shopped recently (e.g within the last six months). 

Retention rate vs repeat rate

Most ecommerce marketers will keep one eye on repeat rate, as it's a good metric to track as an inidicator of how retained your customers are.

But it has its limitations - for example - if I make an order online, forget something and do a quick follow up order - just because I shopped twice I'm not necessarily an engaged and loyal brand advocate (just forgetful). 

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Topics: Ecommerce metrics, Ecommerce customer retention

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