Neal Goyal

Facts right here Ash - You are the 🐐at this!

The best kind of data comes from talking to your customer. When a brand makes a conscious desire to learn about their base through first-party data collection method like surveys, post-purchase experiences, and quizzes… you learn first hand about your customers’ tastes, preferences, and behaviors. This is the data, when used effectively in personalizing the customer journey, can be a hyper-powerful mechanism for driving massive LTV while also enjoying the luxury of happy customers.

Email performance is at the mercy of the brand's checkout experience. On mobile, 75% of shopping carts are abandoned. That's 3 out of 4! So even if their email campaigns are compelling to drive the click, if the web experience is not seamless, it kills the chance for optimal email performance. This is why email marketers love dropping the mobile app download CTA in their email campaigns. Once the user is in the app channel, LTV and conversions SOAR. And then email marketers can continue to deep link into the app in the future to ensure the highest possibility of conversion and performance from those campaigns.

I helped a $20 million baby brand focused on clothing for ages 0-3 years, with a customer base of moms who were hyper loyal roaring fans. But they no matter how loyal those fans were, when their kids reached age 3-4, there was no need for the product anymore. This is where the brand learned from their customers by asking them what they wanted, and introduced new product categories that would cater to ages 4-10. By listening to their customers, not only did that new product category crush, but customers were happier than ever. On top of that, they were able to solve the number one challenge they were facing with their previous product category… a narrow LTV window. And by expanding that window, revenues and profits took off.

Conversion rates are going to continue to come under pressure for years to come, for your top of funnel. But, the more concerning part is the conversion rate for your returning customers relative to their visits… those are diminishing as well. This is one of the biggest value propositions of a mobile app. It allows your returning customers to have a mobile hub for your brands that drives frequent visits, more engagement, higher conversions, and reduces friction… generating impact for the brand, while also delivering differentiated value to the customer. CVRs to the moon 🚀

Personalization attempts can often fail when a brand attempts to segment their audience without taking the time to learn about who that audience is, their preferences, tastes, and understanding their behavior. This often occurs because learning about your audience can be a time intensive project, and so many brands operate with short-term mindsets, focused on immediate clicks and conversions. The single best way can avoid this… Talk to your customer. Listen to them. Collect data from them firsthand. Because great customer relationships are not formed by “guesses” but rather, meaningful efforts toward getting to know your base.