- May 6, 2019
- Posted by: Inveon
- Category: Inveon News
The “Retaining Customers for Growth” event was organized by Inveon and Emarsys Turkey on the 18th of April, 2019, at Dome Istanbul.
The event started with an opening speech by Inveon Partner, Moris Kastro. He shared results from the most recent research in customer retention and stated that “increasing customer retention by 5% can increase profits from 25-95%”. He also pointed out that the current customers are 50% more likely to buy the new products offered by a brand, and they generally spend 33% more than new customers.
Later, Güneş Mitrani, the Head of GrowthLab, took the stage and shared a roadmap for companies that want to capture the trend of hyper-personalization. She began her presentation by explaining the growing importance of personalization and its impact on the e-commerce sector. Then, she shared the details of the RFM model used for analyzing customer value and how it can be used as a transitional model to hyper-personalization. Mitrani also showed the successful results of GrowthLab’s personalized campaigns. She added, “Hyper-personalization is the future of marketing in all sectors that are targeting end users. Companies that are not already getting prepared for hyper-personalization will face the risk of losing their competitive edge.”
Next, Emre Güzey, the Managing Director of Emarsys Turkey, made a presentation regarding the management of the customer lifecycle under limited resources. Güzey stated that 98% of customers never convert, while 70% of that %2 who converted are one-time shoppers. To overcome this challenge, he emphasized that “companies should discover the data, understand the customers, automatize the engagement strategies and measure their marketing performance”.
Finally, the panel “Increasing Customer Lifetime Value”, moderated by Moris Kastro, took place with the participation of Betül Bulut, the Head of CRM at Modanisa, Deniz Gol, Head of Global Internet and Outlet Operations at Colin’s, and Mustafa Kemal Temel, E-Commerce Marketing Director at Flo. The panelists elaborated on the tips and methods of increasing the customer loyalty and their lifetime values. They talked about the use of data analytics and new technologies in the creation of personalized campaigns. Moreover, they shared tips on how to overcome the challenges of customer relationship management.