Strategies for Revenue Growth and Customer Retention in E-commerce
The VTEX Commerce Canvas and E-commerce Canvas Logic provide frameworks for guiding business review meetings with customers to understand the current state of e-commerce and set future goals. Key areas include revenue growth goals, customer acquisition, shopping experience, post-purchase strategies, and customer retention tactics. The focus is on implementing projects and strategies to enhance revenue growth, engage customers, and improve overall business performance.
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VTEX Commerce Canvas The canvas was created by VTEX Customer Success Team to guide Business Review Meetings with our customers. With this framework at hand, we can understand ecommerce s current state and decide on future goals. The strategies and tactics are defined according to these pre- established priorities.
Ecommerce Canvas Logic 01 P L A N R E V E N U E G R O W T H 02 S E T S T R AT E G I E S T O A C H I E V E G O A L S 03 D E F I N E P R O J E C T S T O I M P L E M E N T S T R AT E G I E S 04 R E C O M M E N D E D O P E R AT I O N A L I M P R O V E M E N T 05 C H E C K R E S U LT S
R E V E N U E G R O W T H G O A L : A C T U A L R E V E N U E G R O W T H : CUSTOMER ACQUISITION SHOPPING EXPERIENCE POST PURCHASE Activation Decision Consideration Delivery Exploration Awareness Customer Service MOP Order CUSTOMER RETENTION Reactivation Content Loyalty %Canceled NPS Churn Conversion New Users Sessions Delivered Time Bounce Add to Cart METRICS PROJECTS STRATEGY
R E V E N U E G R O W T H G O A L : A C T U A L R E V E N U E G R O W T H : CUSTOMER ACQUISITION SHOPPING EXPERIENCE POST PURCHASE Activation Decision Consideration Strategies for your brand to be considered for purchase. Usually communications on category level. Delivery Exploration Awareness Customer Service MOP Order You can have strategies like same day delivery process, ship from store, ATP (available to promise) and many other options. When customers find what they want, you should give them information about the product, shipping policy, and return policy, in order to push them to checkout Strategies for a specific product sale. Usually communications on product level. Strategies for your customers to know you have a digital operation. At Moment of Purchase, you need to have a frictionless checkout with a whole bunch of shipping and payment options in order to achieve higher conversion rates. At the landing page give options so customer can explore store s assortment with banners, menu, and search bar. You can offer free returns, different channels to answer customer inquiries, change order automation and much more. You must have different carriers with different service levels, varying on cost and delivery time. Pickup Points and tracking are important strategies too. CUSTOMER RETENTION Reactivation Content Loyalty When users do not reach the expected purchase frequency, implement strategies to reactivate them Keep brand awareness on recurring users and expand SEO traffic. Recommend complementary and replacement products. Also, explore Loyalty and Rewards programs %Canceled NPS Churn Conversion New Users Sessions Delivered Time Bounce Add to Cart T R A F F I C G E N E R AT I O N S A L E S G E N E R AT I O N O R D E R D E L I V E R Y METRICS Traffic can be generated by making campaigns focused on new and recurring users. In this space fill out Customer Acquisition Strategies and Customer Retention Strategies that are already in place. When customers land at your store, they need to be guided and given sufficient information to make an informed decision. The purchase needs to be frictionless for higher conversion. Now the product has been sold, it s time to deliver. Quality, agility and an excellent Customer Service is a must. In this space fill out fulfillment, carrier and customer service strategies. PROJECTS STRATEGY
D E F I N I N G S T R AT E G I E S Once we ve filled ecommerce canvas, it s time to define strategies to achieve revenue growth goal. If you want to achieve 50% you must define a consistent strategy. Operational Recommendations D E F I N I N G P R O J E C T S Strategies are implemented trough one ore more projects. Projects, when implemented, must result in a metric improvement, new feature or new process. W O R K I N G W I T H M E T R I C S Sometimes we have a feature or process that should be improved. That s an opportunity for an operational recommendation, that must result too on a metric improvement.
50% Example 57% R E V E N U E G R O W T H G O A L : A C T U A L R E V E N U E G R O W T H : CUSTOMER ACQUISITION SHOPPING EXPERIENCE POST PURCHASE Delivery Activation Decision Consideration Customer Service MOP Exploration Awareness Order Central Warehouse Home Delivery email facebook First Party Ops Phone Chat Social Networks Bot Email Free Returns Omnilogic Search Categories Menu Recipe Menu Recommendations Fraud Check Credit Card Pay on delivery Vegetables Subscription Physical Store Cooking blogs Meal Estimate Saved Money Saved Time Beautiful Photos Nutrition Value Receipts Shipping Costs email facebook CUSTOMER RETENTION Reactivation Content Loyalty Free Shipping Weekly Vegetables Recipe blog Nutrition Content %Canceled NPS Churn Conversion New Users Sessions Delivered Time Bounce Add to Cart METRICS 130% 40% 70% 1.5% -50% 90% 35% 10% 89 PROJECTS S h i p f r o m S t o r e O p e r a t i o n : D e s k t o p S e s s i o n s I n S t o r e P i c k u p STRATEGY O p e r a t i o n : G r o w S e s s i o n s O m n i c h a n n e l
When When Growth must reflect on Canvas. Projects must be written on the respective area and metric improvement must be observed. Growth Plan Plan is is executed, executed, the results GROWTH PLAN EXECUTION Operational implemented won't be written on canvas, since the process or feature is already in place. On next page we can see our example after growth plan execution. recommendations, when Projects, are now part of canvas. When analyzing the metrics we can see that the % of orders canceled reduced 20% percent but conversion didn t improve with pickup point implementation, as expected. Sessions, in green, have grown, but we don t have to write it down on canvas, since the result was achieved improvement on Facebook campaigns focused on desktop devices. by an operational and email
50% Example 70% R E V E N U E G R O W T H G O A L : A C T U A L R E V E N U E G R O W T H : CUSTOMER ACQUISITION SHOPPING EXPERIENCE POST PURCHASE Delivery Activation Decision Consideration Customer Service MOP Exploration Awareness Order Central Warehouse Home Delivery email facebook First Party Ops Phone Chat Social Networks Bot Email Free Returns Omnilogic Search Categories Menu Recipe Menu Recommendations Fraud Check Credit Card Pay on delivery Vegetables Subscription Physical Store Cooking blogs Meal Estimate Saved Money Saved Time Beautiful Photos Nutrition Value Receipts Shipping Costs email facebook S h i p f r o m S t o r e I n S t o r e P i c k u p CUSTOMER RETENTION Reactivation Content Loyalty Free Shipping Weekly Vegetables Recipe blog Nutrition Content %Canceled NPS Churn Conversion New Users Sessions Delivered Time Bounce Add to Cart METRICS 130% 70% 70% 1.5% -50% 90% 35% 7% 89 PROJECTS STRATEGY O p e r a t i o n : G r o w S e s s i o n s O m n i c h a n n e l
About Customer Success Team We invite you to challenge the future and create new perspectives with the VTEX Commerce platform. We are focused on understanding our customer s ecommerce framework, goals, strategies, and projects to achieve his annual objectives. Based on programmatic Business Review Meetings, we co- create a Year Playbook with Operational and Project Recommendations to drive Revenue growth and increase Engagement Score.
