Retention Rates Need a Boost? Combine Real-Time and Scheduled Campaigns
If you're looking for an impactful tool to turn prospects into loyal customers, look no further. Combining real-time and scheduled campaigns can be an effective retention marketing strategy that drives first-time deposits and increases conversion rates, ultimately leading to strong, healthy customer relationships and higher ROI for your business. Here’s how
The more deposits a trader makes, the more likely they will remain engaged with your platform. It’s common sense.
That’s why focusing your marketing efforts on retaining your traders and promoting deposit activity drives high levels of engagement that will increase their customer lifetime value (CLTV).
Don’t just take our word for it. Optimove data shows that as traders make more deposits, the time between each transaction shortens – meaning they deposit and trade more frequently.
Take a look at the graph below:
So, how do you get your players to deposit more often?
Bringing in new leads will always be critical to growing your business. However, leads need to commit to your brand, complete a lengthy Know Your Customer (KYC) process, and get acquainted with your platform before they begin depositing and trading.
As a result, operators are faced with a leaky bucket. Instead, the focus should be on retaining existing customers and repairing the leaks rather than repeatedly adding new customers to the bucket who tend to churn (leak) quickly. You must patch those holes before you can fill it up again.
In addition, the cost of acquiring new customers continues to rise due to intense competition and stringent regulations. The solution? It lies within an effective retention marketing strategy.
Why combine real-time and scheduled campaigns?
Combining real-time and scheduled campaigns helps marketers create more effective, relevant, and efficient messaging that delivers better results and drives greater ROI. Here are a few ways how:
- Increases relevance: Marketers create more relevant and personalized messaging that resonates with their target audience using real-time data and scheduled campaigns.
- Improves efficiency: Real-time campaigns send time-sensitive and instant messages, while scheduled campaigns help you keep a consistent presence with traders regularly.
- Greater reach: Marketers can leverage the strengths of both approaches to maximize reach and engagement at all times.
- Boosts targeting: Real-time data can target specific customer segments, while scheduled campaigns can be used to reach broader audiences.
- Better measurement: It becomes simpler to gain actionable insights and make data-driven marketing decisions about future campaigns using both approaches.
Examples? Thought you’d never ask
When communicating with new traders for the first time, it’s essential to begin with a welcome email that displays educational content on how to get started in their trading journey with your brand.
This first campaign can be triggered if the trader doesn’t make their first deposit within an hour of registration. If the trader still didn’t make their first deposit afterward, you can begin to incentivize them with deposit bonuses and other promotional incentives.
Some common promotional incentives include:
- Contests and tournaments
- Loyalty programs
- Free trials
How do leading forex trading platforms use Optimove?
Use Case #1
By combining real-time and scheduled campaigns – a leading trading platform increased conversion rates by 5% and retention rates by 67%, allowing them to deliver an ROI of 48% with Optimove.
Using these insights, operators can build a marketing plan for traders in their first weeks of registering, consisting of a series of time-sensitive campaigns (using Optimove’s real-time capabilities) and scheduling campaigns throughout the week.
Use Case #2
Another Optimove trading client discovered that 56% of registered traders make their first deposit within a week of registering, and 42% of these registered traders convert on the same day.
Since many of your traders are most likely to make their first deposit on the same registration day, you must trigger campaigns in real-time, allowing you to strike while the iron is hot and communicate with your traders when they are most likely to convert.
Optimove research shows that most traders convert within the first week of registering an account.
See the graph below:
Therefore, start targeting traders within their first week with your brand, as this is when they’re more likely to convert. Once a trader converts and becomes a paying customer – brands can initiate their retention marketing plan.
A Final Word
As traders make more deposits, they trade more frequently and stick around longer. By incentivizing your players with deposit bonuses, contests, and loyalty programs, you can encourage them to return for more.
And when it comes to triggering those incentives, timing is everything. You want to seize the moment and communicate with your traders when they will most likely convert. That’s why using real-time capabilities alongside scheduled campaigns can be a game-changer.
So, there you have it – a winning strategy for retaining customers and increasing your CLTV.
Want to hear more? Request a demo today!
Be the first to comment on this post