How great is it when someone recognises a significant anniversary; whether it’s a wedding, birthday, work or a historical event such as VE day? The feel good factor of the recognition resonates.
For brands, a significant revenue opportunity exists if they are able to identify the key anniversaries relevant to their customers & prospects.
Anniversary marketing programmes represent an opportunity that can increase acquisition as well as retention.
Examples include –
- Disrupting a renewal process with a more compelling, timely offer or at least a stimulus for the consumer to carry out a check (acquisition)
- Targeting newly acquired consumers of competitor brands with an incentivised campaign before the new relationship develops (acquisition)
- Connecting with your existing customers to nurture the relationship and build brand loyalty, perhaps through communicating upcoming customer exclusive offers (retention)
Anniversary marketing in action
Anniversary marketing is a powerful strategy for a range of consumer facing sectors. In particular, we work with retail clients, automotive brands, financial services businesses and utility companies to apply this approach.
Taking the utility sector as an example, every year a typical household is faced with a series of opportunities to renew or extend their relationship with their supplier whether this is home insurance, gas, electricity, broadband, entertainment, product warranties or home security.
High success with homemovers
We know that 70% of homemovers switch utility provider at the point of moving. And so whether your focus is a retention programme to maintain customers or an acquisition strategy to win new business, the potential opportunity to be gained from this audience is of significant value.
To look at this another way, our data reveals that 75% of mortgage providers aren’t aware of a customer planning to move home; thus missing out on a valuable opportunity to retain a relationship.
If you would like to know more on establishing a compelling intervention strategy please drop me a line or give me a call.