Ryan Deutsch’s Post

This has been fun. Recently, I’ve been talking to retailers about customer movement. Instead of starting with channel strategies, customer movement is built all around – you guessed it – customers. It’s a philosophy and framework that helps move customers through the funnel as efficiently as possible from unidentified shopper to customer to repeat customer and loyalist--and recaptures those that threaten to leak out. Customer movement helps marketers act more strategically. It helps teams get rid of things they know aren’t working, like sending way too much email and burning out their lists. It helps brands figure out which customers will buy at full-price, and which really need an incentive. It helps brands address the middle of their customer file, which often doesn’t get the right kind of attention. The most exciting part: Customer movement works. Teams that are using customer movement are finding that they are retaining far more of their most valuable customers. Their three-year customer retention rate averages 59% -- more than twice that of those who don’t use customer movement. They’re growing their new customer files and their existing customers are becoming more profitable. Learn more about customer movement and the analytics that make it possible here: https://bluecre.co/49iLlHF

Most brands in the Nordics are completely missing insight into their customer retention behavior. For retail and e-commerce, it is often a more complex issue than a single number can explain. This is kind of problematic, though, as brand loyalty is generally declining, no? It is more unfortunate as a lot of revenue potential is lost by missing out on personalizing communication with correct timing and content. Problems and possibilities, right? I'm looking at ways to gain insight into retention and customer journeys all day long, so I am partial to the subject. I started Lablytics as I wanted it to be a fun place where we solve complex analytics issues so you do not have to make more complex investments and can move past your software limitations. In the Lab, we spend time creating innovative ways of looking at real receipt data, finding patterns of what customers are really doing, and how the choices made impact our client's overall growth. I want it to be a good complement to the in-house analytics, KPIs, and OKRs to better understand why metrics are moving the way they are. The goal is to provide our clients with the ability to say, "We have the highest possible standard when it comes to data and advanced customer analytics available to us." But I digress. The subject of everything you can do is often too fuzzy to explain in choice words, so to showcase a few ways you can look at retention as a complement to your current dashboard figure and learn a bit more about your customer's behavior, I want to share a few select retention and purchase frequency showcases from synthesized data. 

Digital Marketing in customer buying behavior: Learn how Digital Marketing helps customer to choose the right product for him. How the customer buying behavior helps Digital Markers understand customer and help to choose the right product for him. 🌟 Understanding the Customer Buying Journey 🌟 As businesses, understanding our customers' buying behavior is key to delivering exceptional experiences and building lasting relationships. Let's break down the steps of the customer buying journey: 1️⃣ Recognition of Need/Problem: It all starts with recognizing a need or problem. Understanding what drives this recognition helps us offer timely solutions. 2️⃣ Information Search: Customers dive into research mode, gathering information from various sources. Being present with valuable content and answers is crucial here. 3️⃣ Evaluation of Alternatives: Comparing options is where the rubber meets the road. Highlighting our unique value proposition and benefits sets us apart. 4️⃣ Purchase Decision: The pivotal moment! Factors like pricing transparency, trust, and convenience play a significant role in sealing the deal. 5️⃣ Purchase: The smooth purchase experience is a culmination of efforts, whether online, in-store, or via other channels. Seamless transactions leave a positive impact. 6️⃣ Post-Purchase Evaluation: The journey doesn't end with a purchase; it's just the beginning. Ensuring customer satisfaction and addressing any concerns post-purchase is vital. 7️⃣ Post-Purchase Behavior: Happy customers become loyal advocates. Understanding post-purchase behaviors helps us nurture relationships and drive repeat business. By aligning our strategies with these steps, we create meaningful engagements through Digital marketing and foster customer loyalty that goes beyond transactions. Let's keep evolving to meet and exceed customer expectations! 💼✨ #CustomerExperience #SalesStrategy #BusinessSuccess #DigitalMarketing

Retail is evolving fast and it's not always easy to keep up. But don't worry, Bluecore has your back. Our Customer Growth Benchmarks Report is hot off the press, packed with data and insights to help you understand your customers better. Discover metrics across the whole customer lifecycle – from unknown visitors to loyal fans. We dive into the data that really matters for understanding marketing performance and how you compare to relevant peer sets, such as: 🔹Shopper identification rates  🔹Repeat purchase rates   🔹3-year customer survivorship  🔹and more The secret to success? It's all about customer movement. Learn more in the new report and see how you stack up against other retailers in your category. https://bluecre.co/3w8EbY2 [retail marketing, benchmarks, identification, retention, customer growth]

Personalized consumerism is not just a passing #trend; it is an essential strategy to shape the customer engagement of the future and build #brand loyalty. #customerservice #strategrydevelopment #growth #business Council Post: Why Personalized Customer Service Matters—And How Your Company Can Offer It https://hubs.ly/Q0281mVV0

Very nice article from Anna Hensel on my new paper (https://bit.ly/3HWjj8I) with Barak Libai and Verena Schoenmueller. Excellent summary of the key findings of the paper, and good context from experts like Jai Dolwani, former CMO of Winc. I couldn't agree more with Jai that "time-bound retention" (or the proportion of customers retained some specific number of months after acquisition), and projecting cohort-specific LTV, are more diagnostic measures. Customer retention is a very important measure of product-market fit, customer satisfaction, and lifetime value, but you need to measure it the right way. If you don't you might get duped.

Great to be featured in the Modern Retail article alongside Daniel McCarthy. If you know me, you know customer retention is one of my favorite topics— especially when it comes to the data behind retention efforts. This article from Anna Hensel uncovers why a commonly used retention metrics - blended churn rate isn't a good indicator of performance. Why? Because it's easily influenced by pace of new customer acquisition. Give the article a read and let me know what you think!

Who doesn't love a 'trends' list?! This year, rewards programs are the factors affecting customer loyalty the most. But don't forget about value alignment too! When a company’s actions and ethics align with their customers' values - that's powerful stuff. #CustomerTrends #Values #Loyalty

If you're looking to boost your chances of turning visitors into loyal customers, it's important to understand the customer journey and how to make the most of it. This comprehensive guide explores every aspect of the ecommerce customer journey, from mapping it out to analyzing customer behavior.

Enhancing Customer Decision-Making: The Power of A/B Split Testing in Post-Purchase Product Options In the ever-evolving landscape of e-commerce, empowering customers to make informed decisions post-purchase is paramount. A/B split testing emerges as a potent tool to not only assist customers in their decision-making process but also to drive sales and increase Average Order Value (AOV) for businesses. 1. Understanding Customer Preferences: A/B split testing allows businesses to present customers with different product options or variations after their initial purchase. By testing variations such as product features, pricing strategies, or upsell suggestions, companies gain valuable insights into customer preferences. 2. Personalised Recommendations: Through A/B testing, businesses can tailor product recommendations based on individual customer behavior and preferences. By analyzing customer interactions with different product options, companies can offer personalized recommendations that resonate with each customer, ultimately leading to higher conversion rates and increased AOV. 3. Optimising Product Offerings: A/B split testing enables businesses to continuously refine and optimize their product offerings based on real-time data and customer feedback. By testing various combinations of product features, pricing, and messaging, companies can identify the most effective strategies to meet customer needs and preferences, ultimately driving sales and revenue growth. 4. Increasing Conversion Rates: By presenting customers with targeted product options through A/B split testing, businesses can significantly improve conversion rates. By offering customers relevant and appealing product choices, companies can increase the likelihood of upsells and cross-sells, ultimately driving higher AOV and maximizing revenue potential. 5. Enhancing Customer Satisfaction: A/B split testing allows businesses to deliver a more personalized and engaging shopping experience for customers. By offering relevant product options tailored to individual preferences, companies can enhance customer satisfaction and loyalty, leading to repeat purchases and long-term customer relationships. #ecommerceoptimization #absplittesting #postpurchase #decisionmaking #customerinsights #personalizedrecommendations #conversionrateoptimization #cro #averageordervalueenhancement #customersatisfactionstrategies #datadrivenmarketing #productoptimization #upsellingtactics #crosssellingstrategies #customerexperienceenhancement #evenuegrowthtechniques #tailoredproductofferings