Succeeding as a startup – especially in retail or ecommerce – can be extremely difficult in today’s highly competitive economy. In fact, a 2013 study of U.S. startup success rates found that nearly half of all startups will fail within just three years, primarily due to lack of knowledge, planning, and/or record-keeping skills.
Beating the Odds
However, startups who leverage data to increase customer retention rates enjoy considerable growth, because they wisely use the knowledge gained from their records (i.e., data) to plan advanced marketing campaigns that improve the customer experience and yield higher returns.
Herbal supplement company Vital Plan, for example, needed metrics like Customer Lifetime Value and Average Order Value to give to potential investors and help drive their marketing strategy. But, as CEO and Co-Founder Braden Rawls noted in a recent interview, it is very difficult and labor-intensive to calculate such data. They also needed a way to easily deliver automated email marketing campaigns with personalized content, in order to reach segmented customer groups with more targeted messages that relate to their particular interests and needs.
That’s why the team at Vital Plan was thrilled to find the energetic, committed, and innovative experts at Windsor Circle, ready to help businesses succeed with its robust Retention Automation platform. “Tools like Windsor Circle allow us to better collect and manage data in an efficient way,” Rawls stated
In regards to their need to segment customers and automatically send more targeted emails, she noted, “Audiences respond in different ways, and so it’s really important for us to be able to target customers with personalized messages, and that’s something that Windsor Circle allows us to do more effectively.”
“Even though we’re a very small company, we are growing rapidly and feel like we are ahead of the marketing game because of Windsor Circle,” Rawls added.
Understanding Key Retail Metrics
So what types of data does a business need, and how can Windsor Circle help a startup like Vital Plan use the data to grow? Here are some performance indicators that Windsor Circle enables businesses to gather, analyze, and apply in running more effective marketing campaigns that fuel success:
Startups need data to succeed and gain investments, and these are only some of the many data analysis tools and features of Windsor Circle’s Retention Automation marketing platform. Check out some of our proven results to learn about the great successes Windsor Circle clients have seen using our data-driven, customer-centered marketing approaches.
Contact a Windsor Circle team member today, and find out we can help you leverage data to power more informed, personalized, and profitable marketing campaigns that enable businesses to succeed.