It takes 5X more to acquire new customers than retain an existing customer!
While this might sound similar to CRM marketing, CRM is mostly centered around existing customers. Marketing Automation has a broader scope and offers the opportunity to drive revenue from non-customers as well. Marketing Automation helps you leverage extensive libraries of user action data to create targeted, personalized communication, converting them into customers in addition to being able to granularly analyze existing customers, driving increased engagement and revenue over a wide range of parameters.
While advertising driven customer acquisition is mostly centered around the “Cost per order” metric, marketing automation and customer retention centres around the CPA (Cost per Acquisition), LTV (Life Time Value), and Customer Payback Period Metrics.
Customers are segmented over a wide range of parameters: (in bullet points). First Purchase date, customer age, products viewed, categories viewed. products added to cart, purchase dates, product viewed / bought prices etc. and a wide range of channels are used to reach out to customers – (Graphic) Emails, SMS, Push Notifications, On site Notifications, WhatsApp etc.
Automated journeys help you build flows that help you connect with customers when they perform certain actions or when certain conditions are met (eg: No visit to site in the past 30 days / Viewed 3 products but no purchase made).
Revenue reporting across all journeys and campaigns help you identify the optimal revenue generating and performances across all campaigns.
Orange Fox is a Premium Partner for WebEngage, a multi-channel customer retention and marketing automation platform, and one of the fastest growing platforms in the world!