Archive for Ross Kramer

Customer acquisition and retention strategies in fashion

Posted by Ross Kramer on October 30th, 2014 at 9:10 am

I recently had the opportunity to moderate a panel of leading fashion retailers at Fashion Digital New York that focused on the ever-challenging topic of customer acquisition and retention. Prior to our discussion, the morning’s keynote speaker had left attendees with the edict that it’s their collective job to create fantastic experiences online to increase purchase intent in retail. It was a perfect lead-in to our session, because it’s those experiences that set the table for customer acquisition and that position retailers’ brands for better retention over time.
But while that may sound simple, it’s easier said than done. At Listrak, we’ve compiled data from nearly a thousand retailers over several years that shows that a mere 15-20% of customers buy from a retailer’s website more than once. The vast amount of choices online has resulted in reduced customer retention and loyalty, making it a larger hurdle than ever for retailers to turn first-time buyers into two-time buyers, the crucial step that doubles the likelihood that they will purchase again.
In our discussion, our panelists shared the latest acquisition and retention strategies they’re implementing:

Retailers need to amplify the experiences of Brand Influencers to tell their stories online. For example, one retailer has... Read more

In Defense of Popups

Posted by Ross Kramer on April 16th, 2014 at 8:02 am

It is no secret that we tout the modal popup as the ultimate tool for building your email subscriber base, and we have the research to prove why. There are still those, however, who avoid using this time-tested tactic for fear that they will annoy – and potentially lose – prospective customers.
Recently, while discussing the effectiveness of exit popups, Listrak Senior Solution Consultant Joe Devine met with the popular popup objection. I thought his response was worth sharing:
The best strategies surrounding pop-ups, side bars, footer overlays, or any other sort of whirligigs are often hotly contested by marketers. Some folks see them as the utter dissolution of all brand integrity, while some of us see them as a necessary engagement tool when trying to achieve revenue goals.
The truth is engagement KPIs are lifted when you strategically increase acquisition. However, with such a broad spectrum of sentiments, one thing is clear: One size will not fit all and testing is key to driving adoption. After years of deploying and testing these technologies, it may seem brash, but the simple fact is, these tools work and work well. For every naysayer, I would challenge you to prove that the... Read more

Keeping it personal with product recommendations in post-holiday campaigns

Posted by Ross Kramer on December 23rd, 2013 at 6:41 am

Hopefully the holiday season’s been good to you and you’ll be starting off 2014 with many new customers and happy return customers. So how do you plan to make sure they stay engaged and purchasing once the spirit of the season has passed?
Don’t underestimate the power of personalized products recommendations. They can be incorporated into many of your post-holiday campaigns to enhance engagement and bump up revenue.
Shopping Cart Recovery – In addition to encouraging a cart abandoner to complete the sale, a shopping cart recovery email is the perfect place to suggest additional items based on the abandoned item and any other past shopping behavior you’ve gathered. Perhaps the shopper who abandoned a cart during the holidays was really looking for a little something for herself and may now be in the mood to complete the purchase and maybe even treat herself to something else, too.
Shipping Confirmation – There’s excitement when a shopper finds out a purchase is on its way, so why not suggest, based on what was purchased previously, what she would likely be interested in next? You’re not only delivering good news, but also continuing to engage her on a personal level after the sale.
Review Request –... Read more

Even Top Retailers Leave Money on the Table

Posted by Ross Kramer on November 26th, 2013 at 11:31 am

Nearly three-quarters of online carts are abandoned, but top retailers are getting increasingly better at recovering them. When it comes to using simple acquisition tactics to boost reachable rates and using successful online tactics in email to engage customers and further personalize their brand experience, well, not so much.
Every year Listrak shops and abandons the websites of retailers ranked in Internet Retailer’s Top 500 Guide and Second 500 Guide to compile a shopping cart abandonment study. We look at what they’re doing to recover abandoned carts (how many emails, when they’re sending them, how they’re using discounts), and, for the first time this year, we also noted whether or not they’re using modal lightboxes to boost reachable rates and ratings and reviews and product recommendations to enhance customer engagement.
The findings were eye-opening. While we found that, overall, top retailers continue to improve on their use of shopping cart recovery best practices – more are sending retargeting emails, they’re sending them sooner and sending more of them, but waiting to offer discounts until later emails – however, they’re literally leaving money on the table when it comes to maximizing reachable rates and extending the personalized experiences they offer customers... Read more