How do you use CRM to cross-sell and upsell to your loyalty members and increase their lifetime value?

A well known dairy company was able to leverage its loyalty programme to track which categories of products consumers had and had not purchased. It used this data to tailor cross-sell messages to its members to encourage trial and purchase of product ranges members hadn’t shown an interest in before. It worked well in terms of generating initial sales and a percentage of members continued purchasing the new category of product. The ROI was extremely strong considering it was a simple case of leveraging data and using this to inform email content.

- You can implement segmentation based on specific behaviors, such as recent purchases r product views. You can identify customers who have recently purchased a camera and send them targeted emails suggesting compatible accessories or advanced models. - You can send a special offer to new customers encouraging their second purchase, or provide a re-engagement offer for customers who have been inactive for a while. - You can predict which customers are likely to upgrade their subscription based on historical data and proactively offer them an exclusive upgrade promotion. - If a customer adds items to their online cart but doesn't complete the purchase, send them an email with a cross-sell offer related to the items in their cart.

Here are a couple of ideas: - You can send follow up emails where you express appreciation for their loyalty and suggest additional products. For instance, if a customer buys a laptop, send an email recommending accessories like a laptop bag or additional software. - Or you can send an email explaining the advanced features of a premium subscription or the additional functionalities of an upgraded software version. - You can offer a limited-time upgrade at a discounted price for loyal customers who have previously purchased a particular product version. Also, don’t forget to monitor the performance of your email campaigns, track customer engagement to see what works and what doesn’t.

Is email marketing more effective than SMS? Conversion is key 🔑! The latter is far more effective with our card linked B&M platform in our experience but we’d love to see what you all think.

Creating loyalty tiers based on customer behavior—tracked meticulously through your CRM—allows for the tailoring of rewards and perks to match the varying levels of engagement and spending of your customers. This tiered system motivates customers to aspire to higher levels of membership, where the rewards become increasingly attractive. Benefits such as free shipping, exclusive discounts, early access to products, or VIP services not only enhance the customer experience but also foster a sense of exclusivity and belonging.

The key to successful cross-selling and upselling lies in the credibility and relatability of the testimonials you share. By strategically placing genuine customer experiences at the forefront of your communication efforts, you not only build trust and credibility but also clearly demonstrate the additional value your customers can gain. This approach not only incentivizes higher spend but also deepens customer engagement with your brand.

By analyzing metrics such as conversion rates, average order values, customer retention rates, and overall customer lifetime value, you gain a clear understanding of the impact of your strategies. This data becomes the foundation for informed decision-making, enabling you to pinpoint successful tactics and areas needing refinement. Moreover, embracing methods like A/B testing, customer surveys, or feedback forms can offer invaluable perspectives on your offers, messaging, and the channels you're using. These tools not only allow you to test the waters with new ideas but also ensure that your approaches resonate with your audience.