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Then try this one:

  • Use AI to segment your existing customers by intention (when & what are they likely to buy again?)
  • Run email and remarketing campaigns based on those intentions

Ideal for companies with 10,000+ leads, this hack has been shown to grow revenues by 12% to 30% and significantly improve return on ads spends (RoAS).

Why Target Existing Customers?

As the Harvard Business Review explains below, an existing customer is almost always more profitable than a new one:

“Depending on which study you believe, and what industry you’re in, acquiring a new customer is anywhere from five to 25 times more expensive than retaining an existing one. It makes sense: you don’t have to spend time and resources going out and finding a new client — you just have to keep the one you have happy. If you’re not convinced that retaining customers is so valuable, consider research done by Frederick Reichheld of Bain & Company (the inventor of the net promoter score) that shows increasing customer retention rates by 5% increases profits by 25% to 95%.”

Blasting Your Entire Database with Emails is a Waste

  • Not everyone has the same chance of buying from you in the next 30 days
  • Dead customers will not respond at all and will mark your email as spam
  • High-spenders and middle-spenders probably prefer different products

How AI can Help You

Artificial Intelligence (AI) allows you to do predictive analytics and work out the different intentions of your existing customers so you can market the right products at the right time:

  • People who will likely purchase in the next 30 days – Advertise your newest products
  • Individuals who will probably have a high average order value – Present high value items
  • Low probability of ever buying again – dead customers so not worth advertising to

How to Start Using AI

  • Option 1: Hire a data scientist to build and use custom data models
  • Option 2: Use a manual RFM model to identify (not predict) high value customers
  • Option 3: Register for an AI application like Alavi.AI that uses tried and tested data models to do predictive analytics. It offers a safe & secure free trial where you can upload your customer data base to test its capabilities

Enhance the Customer Experience by using Multiple Channels

  • Understanding your existing customers’ intentions allows you to launch a personalized email campaigns
  • At the same time, upload the email addresses to Facebook, LinkedIn & Google to build custom audiences for simultaneous advertising on these platforms

3 Things You will Achieve with AI

  • Predicting the intentions of your existing customers
  • Segmenting your audience for personalized, multichannel campaigns
  • Increasing revenue profitably by more accurately targeting existing customers
  • Increasing your value at your company

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Use Alavi and Scale Without Fear

Developed for small and medium businesses, Alavi is a martech application that performs predicative analytics on your customers’ behavioural data. By combining AI, machine learning and automation, it helps digital marketers better understand their audiences, improve their targeting, and scale confidently profitably.

Alavi has a proven record of helping brands in a variety industries grow their revenue online. It has a very short time-to-value and is easy to setup and use.

Get a Demo Now

To contact us,
Please email thamaliw@alavi.ai

Digital Marketing