Hi,

You have probably been preparing for this time of year for months, and I’m hoping your marketing strategy for the holiday season or the FIFA World Cup proves itself successful.

Our research shows that while some marketers consider their work done once these few weeks are over, there is a huge missed opportunity –This is your time to capture the full potential of the new customers you worked so hard to acquire.

In this edition of our Product Magazine, I’d like to share with you a few tips on what you can do post-holidays or post-event, to ensure your newly acquired customers stick with you for the long run.

Happy holidays,
Shai Frank, VP of Product

Retain Post-Holiday Shoppers

Big events like the World Cup or the holiday season are considered the “money time” for customer acquisition, but a recent analysis we conducted at Optimove, shows that big event first-timers are 19% less likely to stick around. So, how would you identify which ones are just deal seekers, and which you should invest in for the long run?

One way to do this is by comparing your newcomers to your current best customers – the ones with the highest future value.

If this is the type of products they purchase, their engagement behavior, or their unique demographics, you can build dedicated target groups for “new customers” that resemble ones with high future value.

Here’s how:

Use Customer Explorer to look for active customers in high-value segments (or VIP customers), whose first purchase/deposit date was during a previous big event (e.g. Labor Day, Euro 2021). From there, understand what these customers have in common.

Then, when the big season is over, create a target group for new customers who are similar to your best ones, with offers that will get them to stick with you.

Here are a few examples you could use:

Follow up on the World Cup with offers regarding national leagues or UEFA tournaments
Incentivize deposits for zero-balance customers and those who have made a withdrawal
Bring back disappointed customers to purchase items that were out of stock
Offer an extended sale after the holiday, or acknowledge the purchase with a promo code for their next purchase

To finish the swing, I recommend using the customers’ Predicted Risk of Churn to focus on your best potential customers with the highest risk of churn.

Measure Your Post-Event Success

Once the big event ends, you can continue identifying room for growth by tracking customer behavior over time.

Optimove’s Cohort Analysis lets you analyze how different customer cohorts evolve, based on their acquisition month. It can help you gauge the differences between customers acquired during last year’s holiday season, or the previous big sporting event (e.g. Euro 2021), to customers acquired in other months. Then, you can consider different marketing treatments for these different customer cohorts.

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