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each customer. Using this information, Cosyfeet can now direct a re-engagement marketing campaign to the right customers at the right time.
Tapestry’s in-depth analysis showed that reactivated customers don’t simply lapse again. Instead, their subsequent value is 3-4% higher than recruits. It’s also clear that the low cost of reactivation means Cosyfeet can prioritise this segment to drive a greater return on marketing spend. The brand can now use its reactivation model to test super-lapsed customers in 2021. In addition, by identifying those most at risk of lapsing, a strategy has been developed to take pre-emptive action to re- engage those at risk and convert them back into active buyers. Analysis also showed that purchase anniversary communications performed well, both before and during lockdown.
When working on the reactivation strategy, Tapestry discovered that despite strong
email response rates, the proportion of customers contactable by email was relatively low. To take action, Tapestry advised Cosyfeet on data collection statements to increase the number of emails shared by prospects and customers. This means that when customers lapse, they can be contacted more easily and cost-effectively through an email customer re-engagement programme. The analysis also showed that not contacting lapsed customers at the right time resulted in a significant drop- off in response. As a result, Cosyfeet is now confident that using direct mail to reach customers without email addresses will give the return needed.
Realising the value of digital While the catalogue remains central to Cosyfeet’s marketing strategy, by enhancing its approach to measurement, Cosyfeet now recognises the increasing value of digital. In particular, Tapestry has helped the brand to refine its order matchback strategy to gain a more accurate picture of channel performance, including which particular touchpoints drive sales. By using a shorter lookback window and including the impact of
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paid search in matchback analysis, Cosyfeet is now able to understand the true value of digital in customer acquisition. Insight from Tapestry revealed that online display ads, paid search and paid social were performing much better than they were originally being credited for. Tests to understand the true incrementality of digital channels are being put in place to help Cosyfeet allocate the right budget to drive the maximum ROI.
When testing digital display ads, Cosyfeet found these delivered an incremental ROI of almost 4:1. This highlights the value of online as older customers turn to this channel, especially since the pandemic. Overall, Tapestry’s findings confirmed that both new and channel-switch customers seem to be sticking to these new channels, with no plans to revert to their previous shopping habits anytime soon.
Streamlining TV Following lockdown, Cosyfeet wanted to evaluate the effectiveness of extending its national TV advertising, a core acquisition channel,
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