In 2022 my big focus was comm personalization and conversion. Through these efforts, as a CRM program engagement increased, conversion increased, opt-outs decreased, and marketing spend decreased. CRM is not just channel revenue. It is a passion for the customer experience and long-term loyalty. This ultimately contributed to higher retention and an increase in average customer lifetime value.
- Retention up 17%
- Customer lifetime value up 10%
Should the same growth in value occur in 2023 and NO increase in SMS/email users to web = $1.4M additional revenue.
Should the same growth in value occur in 2023 with a 10% increase in SMS/email users to web = $2M additional revenue.