Mid-Sized private company that was losing revenue and market share to competitors finds new growth and a playbook for continued future success.
- 25% decline in revenue due to heavy competition
- Identify the key segments and analyze performance within those segments
- Develop and test multiple offers & messaging within existing customers and expand test to determine efficacy with prospects fitting key customer profiles
- Analyze inactive customers to determine cause and effect
- Focus on every aspect of the customer journey from web to front door, through post experience
- Determine needed improvements, to include physical plant, onsite activities, staff greeting …all aspects of the customer experience
- Develop and execute customer lifecycle communications, targeting with persona-based messaging. Examples include:
- Pre-and –post visit communications, messaged specifically to where the customer is in their experience with the brand
- Frequency of visit
- Time since last visit
- Inactive customers
- New product news messaged to each unique persona based on level of competitiveness
The brand regained lost revenue and returned to a growth mode
After years of being the only game in town, a fitness and entertainment firm found themselves suddenly surrounded by competition and a declining customer base. As multiple players opened within just a few miles of a key location, the brand’s revenue began to approach a 25% decline.
The CEO had deep concerns for this location; however she also knew that the same competitive threats were coming to her other markets. The brand did not have local marketing resources nor a proactive marketing plan.
“The CEO also wanted to make sure that we delivered a plan that worked, and also that we helped her hire, onboard and digital-savvy marketing resource who could continue to execute the new marketing playbook.”
- Deborah Fell, Partner & CMO
Customer Lifecycle Marketing framework above shows pre-designed potential triggered communications based on customer behaviors. This increases the relevance of communications, and combined with other channels and offers, can improve conversion and increase revenue significantly vs. one-off promotional email campaigns.
After analyzing the customer & financial data, as well as all aspects of the customer experience (to include web and onsite), an integrated plan was developed and executed to drive leads and bookings. The brand developed a customer lifecycle marketing approach – core to the success -, with detailed messaging, offers and tactics by customer segment and persona.
This plan included trigger-based communications to ensure that customers visited for the first time were recognized and rewarded uniquely, and those that didn’t return after a period of time were contacted with relevant messaging.
In addition, new programs and features were added and promoted, and social influencers and more loyal customers were provided with communications and unique preview opportunities.
Impact on Client Business
In addition to regaining lost share and returning to growth after experiencing a 25% decline, the brand had an effective 12 month growth playbook that could be leveraged in other markets, and continually extended with new products, offers and messaging.
The marketing approach was grounded in data, testing and analysis, and amplified through creative and fun messaging appropriate to the industry and business.
“The Company was able to unlock growth in a highly competitive market through developing a customer-focused plan, and innovative plans and execution.”
- Deborah Fell, Partner & CMO