This is the final installment in our 3-part case study series on how different brands leverage new mover data to execute acquisition and customer retention strategies. If you happened to miss the other two posts, you can start here with part 1.
Oftentimes, we engage clients who are aware of the impact new mover data has on their brand. However, they require additional support to take their trigger-based marketing to the next level. I’d like to share one such instance, as the results should not be ignored.
Recently, Speedeon was approached by a national hardware retailer that was struggling with their one-size-fits-all shared mail approach to marketing to new movers. Specific challenges with their existing program were the lack of targeting options available. Many locations were underserved, or impressions were being allocated to an underperforming segment of new movers. Additionally, they had no way of understanding if the consumer was a current loyal member or prospect.
Boost your ROI and Customer Retention. Download the New Mover White Paper
A New Approach to Customer Retention and Loyalty Programs
With a renewed focus on driving more loyal members and customer retention, this became a concern. The retailer wanted to assess how Speedeon’s new mover data measured up against the incumbent shared mail program in a head-to-head test. The goal? To measure the impact of response and ROI when a targeted new mover message was sent to those individuals moving within a defined proximity of retail locations.
To ensure the success of the program, we collaborated with the brand to analyze and identify the radius to monitor for each location. The scope of the test also extended beyond just targeting radius. In reality, those moving into apartments versus single-family homes likely had different needs. Messaging and offers were segmented based on the dwelling type to ensure relevance and provide additional value. The push for more relevant targeting and messaging was especially important, as personalized messaging was a priority for the brand.
Download Speedeon’s New Mover White Paper
What happened once in-market testing was complete?
Targeting by dwelling type and radius proved exceptionally valuable for the target locations participating in the test. For example, the retailer saw:
- .28% lift in redemption rate and .29% lift in ROI compared to the incumbent
- The retailer was able to see an 18% capture rate for their customer retention loyalty program
Once the test was concluded, the retailer decided to move forward with Speedeon as their primary new mover direct mail program. The program has been in-market for approximately 24 months, and the retailer is satisfied with its performance.
To continue to optimize performance, Speedeon is working with the retailer on new strategies. These include product category testing and specific messaging to current loyalty members vs. prospects.
Whether you’re contemplating a new mover program, are currently running one, or are looking for a different approach to customer retention, we’d be happy to discuss ways we can help you. Contact us today for a consultation!
Missed the first parts of our series?
