How to leverage remarketing for loyalty and retention
In a recent webinar, Jonathan Yantz, Managing Partner, joined Cameron Thom, from Adikteev, Carolyn Bao, and Alex Yip from AppsFlyer. The entire webinar is available on demand here, and below are some highlights from the discussion.
The panel covered;
- Why a remarketing strategy is essential
- How to navigate retention and loyalty campaigns in the era of signal loss
- Tips for re-marketing campaigns
Why is Re-marketing Essential?
Re-marketing is critical for businesses aiming to maximize customer lifetime value (LTV). After all, loyal customers can have an LTV between 3 and 5 times higher than new customers. With user acquisition (UA) costs rising, retaining audiences can become a cost-effective strategy in the long term. After putting effort into acquiring customers in the first place, keeping and growing their loyalty will pay dividends.
Navigating Retention and Loyalty Campaigns in the Era of Signal Loss
The mobile landscape is becoming increasingly fragmented, and this will only continue, which means advertisers and marketers have to adapt in order to grow continually. There is nothing new about this; of course, marketers have always had to be adaptable and have a growth, test, and learn mindset! However, in this instance, being savvy about how to retain customers is more important than ever. In the era of signal loss, if customers lapse, they are likely to become more challenging to re-acquire. A lack of personal identifiers means it is essential for advertisers to adapt to these changes.
Best Practices for Seamless Customer Journeys
Creating seamless and relevant customer journeys is crucial for driving re-engagement. Deep linking plays a vital role in this process by directing users to specific in-app experiences, converting free users to paid subscribers, and encouraging repeat purchases. Making the customer journey frictionless through deep linking can significantly improve their experience and likelihood of returning and repeat purchase.
Getting Users “Sticky”
To keep users engaged, tactics such as push notifications and email marketing are becoming even more essential. First-party data, which has always been the gold standard, is now invaluable, allowing for personalized and compelling messages that stand out in crowded inboxes. First-party data is also crucial in the era of signal loss. The more you know about your customers, the more you are protected from data disruption. And vitally, the more you can make messaging personalized and relevant to them.
Strategies for Lapsed Users
Re-engaging lapsed users requires a specific strategy to bring them back, and a deep understanding of why they lapsed in the first place. If they lapsed due to poor service, winning them back will be harder than if they have lapsed for seasonality reasons for example.
If appropriate, re-engagement strategies could involve offers, discounts, new features, or surveys to understand why they left. Mapping out a clear customer lifecycle is essential for successful remarketing. This will help identify any gaps in the journey where customers fail to convert or drop out and help you resolve these issues so the path to purchase is seamless.
Paid Remarketing
Understanding your audience and crafting compelling messages that will appeal to them is essential. Consider the creative elements such as compelling copywriting, offers and visuals to ensure messages land quickly. Be clear on which channels your audiences are visiting and why so that you can capture their attention at a point where they are ready to re engage.
Tips for Success
1. Connected TV (CTV) and Incrementality Testing
Using CTV, such as Roku, in combination with other touchpoints like Meta and Apple Search Ads, can prove the value of a multi-channel approach. Geo-specific incrementality testing can help isolate the impact of each touchpoint.
2. Measurement and Attribution
Real-time data, modeling, and testing are crucial for validating strategies and adapting to changes. A single source of truth can help, but continuous validation is necessary due to the ever-changing landscape. We advise clients that a ‘measurement trifecta’ of Attribution, Incrementality testing, and Media Mix Models will become essential. Signal loss is inevitable, but this measurement trifecta protects advertisers with both a top-down and a bottom-up approach to measurement. Those with a defined measurement framework with this three pronged approach will be ahead of competitors and more likely to unlock profitable growth.
Topline Recommendations
- Consolidate and Enrich Data: Use first-party data to predict customer behavior and prevent churn.
- Creative Matters: Invest in a bank of creative assets to engage users quickly.
- Define Lapsed Users: Clearly define what constitutes a lapsed user for your business.
- Collaborate: Encourage collaboration between UA and CRM teams to predict and influence customer behavior.
By implementing these strategies, marketing managers can effectively leverage remarketing to build loyalty and retention, ensuring long-term success for their brands. Contact us to learn how we can help you achieve your advertising and marketing goals.
