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Retention Rate Optimization Technology

Retention Rate Optimization Technology

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Retention Rate Optimization Technology

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  1. Why to focus on retention?

  2. Retention rate can make or break an eCommerce

  3. Intr-un e-commerce matur...

  4. 2. What does it mean to be customer-centric?

  5. Customer-centricity phases 1. Awareness 2. Research 3. Strategy 4. Execution Business Intelligence tech (NPS, RFM segmentation, Lifetime Value, Cohort Analysis, Qualitative research) Budget (Retention programs, operations team, new technologies) Team Personalization technology (Behavioral segmentation, Behavioral targeting) Business Intelligence Platform Low Medium High Low Devs, UX, Customer Support Data Analyst Business Analyst Data Analyst Personalization Survey tools BI Tool

  6. 2 Prioritise 3 5 1 4 Monitor the right KPI’s Set strategic goals Strategic Initiatives Execute & repeat https://goo.gl/8Ttyv9

  7. 3. What RFM segmentation will mean for you?

  8. Cohort Analysis (how customers are churning through time)

  9. Retention Rate impact

  10. We’re gonna focus on the sellers’ behaviour with a data-driven methodology & technology.

  11. Recency - How recent is the last order? Frequency - How often that customer bought? Monetary Value - What is the total revenue you got from the customer?

  12. RFM Segmentation *We will adjust the scores according to the data we will analyze from the DB

  13. 4. How will make this possible?

  14. The steps to make this happen: • Integrate the tech to grab the data from your website • Adapt the current RFM tech to your business model • Analyze data & generate insights • Start the retention optimization through experimentation

  15. How the technology can be solved? Part 1. Data collection There are 2 ways: • generate a daily feed to be pulled by Omniconvert • develop and push data to Omniconvert through an API in order to generate & process the data around the sellers

  16. How the technology can be solved? Part 2. BI for RFM Segmentation Omniconvert will develop the system to segment the data about the customers in RFM groups

  17. How the technology can be solved? Part 3. Real-time Personalization Once the data will be pushed & the segments will be made, the experimentation & personalization will be 100% integrated with the current Omniconvert Personalization Platform

  18. Proud to work with:

  19. Let’s make things happen!

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