A Mid-Sized Private Company’s Remarkable Transformation and Growth Strategy
Executive Summary
Client Challenge
Heavy competition caused 25% drop in revenue.
Solution
- Segment the customers and measure their performance.
- Create and test various offers and messages for existing customers and expand the test to see how they work with prospects that match the key customer profiles.
- Examine inactive customers to find out why and how they left.
- Optimize every step of the customer journey from web to door, and beyond.
- Identify and implement improvements, such as physical facilities, onsite activities, staff greeting, and everything that affects the customer experience.
- Design and execute customer lifecycle communications, tailored to each persona. Examples include: Pre- and post-visit communications, customized to the customer’s stage in their relationship with the brand.
- Visit frequency. Time since last visit.
- Inactive customers
- New product news personalized to each persona based on their level of competitiveness
Business Impact
The brand recovered the lost revenue and entered a growth mode
Client Challenge
A fitness and entertainment firm that had no rivals for years suddenly faced competition and a shrinking customer base. As several competitors opened within a few miles of a key location, the brand’s revenue started to fall by 25%.
The CEO was worried about this location, but she also knew that the same competitive threats were looming in her other markets. The brand lacked local marketing resources and a proactive marketing plan.
“The CEO wanted us to deliver a plan that worked, and also to help her recruit, train and digital-savvy marketing resource who could keep executing the new marketing playbook.” Afra Sanjari (Fractional CMO)
The Customer Lifecycle Marketing framework was pre-designed with potential triggered communications based on customer behaviors. This makes the communications more relevant, and combined with other channels and offers, can boost conversion and revenue significantly vs. one-off promotional email campaigns.
Solution
After analyzing the customer and financial data, as well as all aspects of the customer experience (including web and onsite), an integrated plan was created and implemented to generate leads and bookings. The brand developed a customer lifecycle marketing approach - essential to the success - with detailed messaging, offers and tactics by customer segment and persona.
This plan included trigger-based communications to ensure that first-time customers were acknowledged and rewarded uniquely, and those that did not return after a while were reached out with relevant messaging.
In addition, new programs and features were introduced and marketed, and social influencers and more loyal customers were given communications and exclusive preview opportunities.
Impact on Client Business
Besides gaining back the lost share and returning to growth after a 25% decline, the brand had an effective 12 month growth playbook that could be applied in other markets, and constantly expanded with new products, offers and messaging.
The marketing approach was based on data, testing and analysis, and enhanced by creative and fun messaging suitable to the industry and business.
“The Company was able to achieve growth in a highly competitive market by developing a customer-centric plan, and innovative plans and execution.”
Afra Sanjari, Fractional CMO
Strategic Business & Marketing
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