Mike’s Bikes Thrives in the New Normal With Ascent360
Case Study Mike’s Bikes Thrives in the New Normal With Ascent360 The COVID-19 crisis has impacted many industries, but one segment has seen positive change:
Return-traffic campaign drives over $100K in revenue and 2x conversion rate
40-60% email open rates for post-purchase campaigns
Loyalty reward programs boost profits 25 – 125%
Going from batch and-blast to set-it and forget-it
Mike’s Bikes needed a personalized approach to draw high-value customers back to their local shop. With a large online store and 12 brick-and-mortar locations, they had no easy way to segment their huge customer base so everyone received the same impersonal “batch and blast” email. By creating rich customer profiles, the Ascent360 Customer Data Platform (CDP) allows Mike’s Bikes to “set it and forget it”, directly from their Lightspeed POS.
Bringing high-value customers back
In a successful return-traffic campaign, Mike’s Bikes sends automated emails 90 and 120 days after a purchase to customers who haven’t returned. These are personalized with dynamic email content updated to match the customer’s local store. Proving that repeat buyers are the most valuable customers, this campaign has driven over $100K in revenue and doubled their typical conversion rate.
Building customer loyalty boosts profits
Through smart segmentation and one synchronized platform, Mike’s Bikes creates targeted marketing campaigns that builds customer loyalty, increases cross-selling and
upselling opportunities and brings customers back to their local shop with a loyalty program which can boost profits from 25-125%.
Increasing open rates with post-purchase campaigns
This dynamic, 24-month post-purchase campaign thanks customers for their bike
purchase and automatically adjusts offers to encourage trade-ins and new recommendations. As an industry standard, the open rate for personalized emails falls between 40-60%—a huge increase from the 13-14% average for generic emails.
