Retention Marketing
At Carousel Insights, we're not just about driving initial awareness. We know the true value of a customer extends far beyond their first visit. Specializing in out-of-home, location-based entertainment venues, we focus on growing the lifetime value of each guest.
While many marketing teams concentrate their efforts on mass-market messaging, we understand the power of leveraging a most valuable asset: your mailing list. Our aim is to transform one-time guests into loyal customers who visit more frequently, spend more, and advocate for your brand.
Lifecycle Marketing and the Guest Journey
The guest journey typically starts with awareness and acquisition, where the bulk of marketing dollars are spent. While these stages are crucial, the real opportunity lies in the last two blocks: retention, renewal, and advocacy. An optimized retention strategy presents several benefits:
- It boosts profits. A mere 5% increase in retention rates can amplify profits by 25% to 95%.
- It's easier. The chances of selling to an existing customer are 60-70% compared to 5-20% for a new one.
- It's cost-effective. Retaining an existing customer can be up to 5x cheaper than acquiring a new one.
- It ensures long-term value. Happy, loyal customers not only spend more but also help in acquiring new customers.
At Carousel Insights, we help you implement a results-driven retention marketing program to increase visitation, gross margin dollar, and EBITDA.
Retention Marketing Services
We offer a suite of services designed to grow your attendance and customer lifetime value:
Retention Marketing Assessment
We'll review your customer journey, existing product mix, CRM, onboarding and loyalty programs, identifying areas for improvement.
Retention Product Mix Redux
Based on guest feedback, we'll suggest specific changes to your product mix to enhance engagement and visitation.
Identify Upsell/Add-On Program
We'll help identify cost-effective programs to convert one-day visitors into multi-day visitors.
CRM/Personalization Program
A robust CRM program is key to any successful retention marketing strategy. We'll help you leverage your list to foster 1:1 personalized relationships with your guests through email, SMS, and apps, driving engagement, loyalty, and higher CLTV.
Onboarding Program Design
We'll help ensure every new guest fully understands and utilizes their benefits, improving the value of membership programs and reducing abandonment rates.
Recurring Revenue Program Development
Recurring revenue programs are a game-changer for out-of-home attractions. We'll help you evaluate the feasibility of such a program and assist in its roll-out if it proves beneficial.
Loyalty Program Development
While loyalty programs for out-of-home entertainment destinations may work differently, their benefits often outweigh the cost. We'll help you determine if such a program is suitable for your business and assist in its implementation.
