<aside> ⭐ Greatly increased customer referrals, reduced inbound sales calls, increased customer retention from 6 to 24+ months and customer LTV from $120 to $360+
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I designed a personalized loyalty and referral marketing strategy, along with a sales funnel specifically aimed at current customers. This marketing initiative utilized email campaigns, social media retargeting, and a tailored online sales funnel to produce prospects and encourage customer sign-ups.
My client was a startup electricity management company offering a groundbreaking technology solution that revolutionized the conventional method of procuring electricity plans. They had devised a unique technology to pair consumers with the most affordable electricity rates in their area. Customers employing this service typically experienced savings of 30-50% on their electricity expenses.
Like many businesses, word-of-mouth promotion and individual recommendations proved to be the most successful means of gaining new users. Prior to creating the new referral system, customer referrals were directed to sales representatives via phone which was inefficient if the sales reps were on other calls or not in the office.
However, when sales reps were able to connect with referred customers, they tended to have a high conversion rate with converting the referral caller to a new member. Despite the effectiveness of person to person sales calls, the inbound call process was inefficient and lacked scalability. Essentially customers asked the same questions on every call with the main question being, “So, how much can I save by using your service?”
Another interesting aspect is that inbound sales calls often had higher customer attrition after the initial six-month period, possibly due to the sense of a hard sell over the phone.
Collaborating with the CEO, CTO, and software developers, I contributed to the design, project management, and implementation of the referral program application and building out the "self-serve" sales funnel which integrated real-time electricity usage data, backend systems, and an electricity savings comparison calculator.
Due to the intricacy of the company's internal systems, an off-the-shelf solution was unsuitable for the referral application, necessitating a custom-built approach. This took longer to build and was costly, but became the foundation for the company’s business.