The first marketing email was sent to roughly 400 potential customers in 1974. The story goes, the 400 recipients were converted into $13 million in sales. It’s just nowhere near as easy these days to send that little and sell so much. So how can you make your email acquisition and conversion efforts easier?
Seventy-seven percent of digital marketers felt greater pressure to meet acquisition and revenue goals coming into 2019 than they did the year before, according to a survey by SheerID.
This pressure isn’t a light one for marketers in retail, where many brands often look at customer acquisition as the holy grail -- the place where all other activities are supposed to lead.
So, what are retail marketers facing? How are they attempting to push through the pressure and march toward acquisition goals? And what else are they thinking about in terms of acquisition?
Here are six answers.
The restaurant industry is rapidly changing, and brands that are focused on digital innovation while adapting to new consumer preferences are getting ahead. QSRs also need to adapt to the growing demand for variety, affordability, and technology in order to engage the next generation of digitally-savvy customers. While modern consumers are focused on unique and healthy food options, their primary concern is convenience. 79% of millennials report they regularly spend money eating at restaurants (Shopkick), making this audience a priority for QSRs. As millennials and Gen Z continue to grow into a stronger consumer force, it’s crucial for restauranteurs to develop a deeper understanding of their interests and prioritize digital engagement to stay relevant. Many QSRs are offering apps, community platform presence (Yelp), or in-app experiences, such as games to deeper the consumer relationship. According to QSR Magazine, 63% of millennials have at least one quick-service app on their phones and 73% have used mobile apps within quick-serves. The significance of a digital presence is clear, but how can QSRs stand out from the crowd and grow a loyal Millennial and Gen Z customer base?
81% of consumers agree that loyalty programs make them more likely to continue doing business with a brand. While your existing loyalty program tactics may be consistent, there are some easy ways to turbocharge your efforts. From our recent Loyalty How To Guide, here are three tactics to layer onto your loyalty member acquisition strategy, that will drive new-to-file member rates and referrals:
Facebook’s latest News Feed announcement about ‘bringing people closer together’ is yet another example of the ever-changing social landscape where marketers must pay (even more) to play as they continue to alter their Ad Spec, algorithms for performance, and edgerank exposure in the News Feed for brand pages. Many of the changes present challenges that cause marketers to have to retrofit their content or rethink their approach.
Acquiring a new customer is five times as expensive as retaining an existing customer. Yet 44% of companies admit they, "have a greater focus" on acquisition, while 18% focus on retention (Invesp). While acquisition of new Email CRM customers is key to driving short-term revenue, establishing a CRM retention strategy is a necessity for ensuring a higher customer lifetime value. Most companies either overlook CRM retention strategies or they lack insight as to why customers lapse. Over time, a large percent of customer will become inactive, how do you overcome the leaky bucket of retention?
