Introduction
In this series of articles, we introduce the steps to creating customer segments using ECPower and concrete actions for improving Lifetime Value (CLV). If you have just started using ECPower or are considering using it, please use this as a reference.
In our previous article, we explained how to monitor sales from customer segments using ECPower's measurement function.
In this article, we will further apply this measurement function and introduce how to refine your marketing strategies.
For more about ECPower, a customer segmentation tool for e-commerce marketers, please see here.
Refine Your Marketing Strategies by Comparing Measurement Results
By utilizing ECPower's measurement function when implementing marketing strategies, you can perform various analyses by comparing measurement results.
Compare the CVR of Multiple Strategies for the Same Segment
By comparing strategies previously implemented for the same segment, you can identify which marketing strategies are more effective.
For instance, by comparing past strategies targeted at loyal customers, you can identify which strategies were more effective and which were less so, thereby evaluating the content of your marketing.
Compare Responses by Applying the Same Strategy to Multiple Customer Segments
By implementing the same marketing strategy across different segments and comparing the results, you can analyze which product is in high demand from which customer segment.
For example, in the case below, a new product promotion is being run across multiple product-specific customer segments. Based on the data, it is evident that this product resonates well with customers who have previously purchased Rum Baba.
Conduct A/B Tests by Varying Patterns such as Email Content
This approach is a bit tricky, but you can conduct A/B tests for a single customer segment.
First, download the list-type customer segment as a CSV, and randomly split it into two CSV lists. Re-upload the two CSV files to ECPower and set up measurements for each, and you will be able to compare data in an A/B test-like manner.
Conclusion
How was it?
So far, we have explained the following as ways to utilize ECPower:
- Understanding the current state and bottlenecks of your store's LTV
- Defining loyal customers based on their needs, and creating a customer journey
- Incorporating the RFM concept into your customer journey to innovate your strategy
- Collaborating ECPower's customer segments with other tools to launch marketing strategies
- Measuring the effects of your marketing strategies, comparing them at a glance, and refining them
When conducting marketing to existing customers, it's crucial to consider the big picture of your approach, break down the steps appropriately, and reflect on and refine your strategies in the medium to long term.
Please fully utilize the functions of ECPower and achieve an improvement in LTV!
