by Komal Helyer | 27th October 2019 2:16 pm
A month on from enforcement, marketing teams are assessing their post-GDPR priorities. For many, customer acquisition will be at the top of their list.
Last minute preparation and uncertainty led many businesses to send re-consent campaigns needlessly. As a result, some of these businesses now have a significantly smaller marketing list.
A smaller list is undoubtedly going to have a knock-on effect on email marketing results. And with email still providing the highest ROI of all marketing channels, the potential impact on the bottomline of businesses faced with depleted lists could be significant.
Rebuilding these lists in the post-GDPR marketing landscape is going to be a challenge. But one that is worth embracing.
The constraints of the legislation will necessitate greater creativity and innovation. The potential rewards of doing this well are high. Successful customer acquisition campaigns bring with them the promise of more engaged subscriber who will help deliver even greater email ROI.
In this blog post, we explore the highs and lows of post-GDPR customer acquisition and explore what brands need to consider as they rebuild their lists.
The plans your team made at the beginning of the year may have changed drastically.
If GDPR re-consent campaigns have caused your marketing list to shrink noticeably, customer acquisition may dominate the months ahead.
Now GDPR is in force, brands must take a transparent approach to customer acquisition.
The tactics many relied on in the past are now out of reach. Bundled consent, pre-checked boxes, and confusing language are no longer sanctioned.
Consumers are becoming increasingly data-savvy, but this does not to equate to a complete unwillingness to part with their details.
In fact, over half of consumers are happy to share personal data in exchange for personalised offers or discounts.
Consumers are not against sharing data. They just expect something in return.
OFFERING A VALUE EXCHANGE
So, what can you offer subscribers in return for their details?
The most obvious way is to offer incentives for subscribing. A discount for their first purchase, a free gift, selling the promise future exclusive discounts – these are all tactics to consider if you’re looking to kickstart list growth.
However it’s also worth thinking long term – how the data you collect benefit your customers’ experience with your marketing.
Personalisation relies on data and the benefits sit on both sides of the fence. Customers get more personalised experiences and receive more relevant marketing. Businesses see better results from their marketing. We call that a win-win situation.
Whatever the approach to data collection, make it worth their while.
Having pinpointed the value you can offer, you’ll need to consider how to communicate this creatively to persuade people to subscribe.
This is where brands need to start thinking outside of the box. GDPR places constraints on the way marketers ask for consent.
For me, this is where the magic is.
When creative minds have to work within specific limitations, they often come up with the slickest solutions.
Arguably, the restraints of GDPR are a precious opportunity to innovate. And I’m not alone in this thinking.
According to a recent survey by the DMA, 71 percent of marketers believe the GDPR will inspire greater creativity in customer acquisition campaigns over the next five years.
USING MULTIPLE CHANNELS
Multi-channel thinking is crucial to customer acquisition. A sign-up form in your footer won’t cut it.
A loyalty and contest platform like PurePromotions makes using your social channels an easy option.
Subscription pop-ups that make use of exit intent technology are hugely important too. They can drive massive list growth. In fact, one study showed they double subscription rates.
When creating the design and copy for your subscription popovers, it’s crucial to ensure you request consent in a way that’s GDPR compliant. (Here’s our post on GDPR and consent should you need it.)
TAKING A HOLISTIC APPROACH
Prioritising customer acquisition doesn’t mean other parts of the customer journey can be ignored.
To ensure continued revenue growth, it is important to consider customer retention. Increasing customer retention rates by just 5 percent increases profits by 25 to 95 percent.
Taking a holistic approach to the customer experience you’re building, will help you maintain a balance between acquisition and retention.
Mapping out customer journeys on paper is a good way to check you are maintaining marketing contact throughout the customer journey.
If you don’t have enough in place to enhance the post-purchase experience (and build loyalty) journey mapping will alert you to this.
EMBRACING THE CHALLENGE
For those happy to get creative about customer acquisition, the GDPR marketing landscape presents an exciting opportunity.
Those who embrace the challenge have the prospect of a highly engaged marketing list to look forward to.
Brands that pair effective customer acquisition with strong customer retention strategies are set turn GDPR into an opportunity for growth.
To learn more, join our upcoming webinar: How to Ensure Marketing Success Post GDPR
The original article was posted here: https://www.pure360.com/customer-acquisition-must-top-priority-post-gdpr/
Source URL: https://www.gdpr.associates/why-customer-acquisition-must-be-a-top-priority-post-gdpr/
Copyright ©2020 GDPR Associates unless otherwise noted.