8 Tips for Making the Most of Your Customer Monetization Campaigns
Strong customer growth and engagement alone won't help your business generate revenue. Brands that succeed understand the importance of maximizing customer lifetime value. And that's where monetization campaigns come in. From streamlining the path to purchase to deploying personalized offers and sales that are truly tailored to individual customers' unique wants and needs, monetization campaigns are powerful messaging efforts that seamlessly encourage spending.
Whether your team is ready to get started creating monetization campaigns or needs guidance on taking your existing efforts to the next level, we've pulled together these eight standout ideas to help your brand launch messages that really deliver.
#1: Send Abandoned Cart Campaigns via Web Push to Increase Results by up to 53%
As many as 88% of digital transactions may be abandoned before being completed. While sending abandoned shopping cart notifications has long been a strategy for recovering some of these sales, our research has found that not all channels generate the same outcomes.
When it comes to the channel used to send abandoned cart messages, Web push notifications come out on top. Research conducted by Braze found that web push is more impactful than email and more impactful than mobile push by 53% and 23%, respectively, when it comes to encouraging audiences to complete their in-progress transactions.
#2: Take Advantage of Cross-Channel Campaigns to Increase Customer Lifetime Value by up to 94%
Encouraging customers to make purchase upgrades and add related items to their cart are two tactics that can increase customer lifetime value (LTV). And leveraging cross-channel messaging—including both in-product messages and out-of-product messages—to keep customers informed about add-ons can help brands achieve greater success. In fact, this approach can boost LTV by as much as 94%, according to our data.
#3: Use Content Cards to Strengthen Your Flash Sales by 38X
Time-limited promotions like flash sales can help brands that are struggling with low conversions generate a spike in sales. And Content Cards are the ideal channel for ensuring time-sensitive messaging is front and center. These persistent messages can be displayed seamlessly within your website or app to highlight relevant content to users without disrupting the UX.
Our research shows that Content Cards are 38X more effective than emails at boosting sales over a 72-hour window, making them a perfect candidate for showcasing flash sales.
#4: Encourage Subscription Renewals via In-App Messages to Boost Conversions
Before your current customers' subscriptions expire, be sure to deploy renewal reminders via in-app messaging. Reaching customers when they are actively engaging in your app can have a huge impact. Our findings show that these engaged app users are 15X more likely to make the move to renew.
#5: Try Out Action-Based Messaging to Boost Transactions by 9X
Many brands continue to send campaigns via traditional time-based scheduling, such as sending an email at a set time (e.g. 10 am). But that's not always the best approach.
Our research shows that action-based campaigns that are triggered in the moment right after a customer has made a specific move, such as signing into their account or adding items to their checkout, are:
9X more effective at increasing purchases for promotions and discounts compared to time-based messaging
66% more effective at boosting general transactions compared to time-based messaging
#6: Don't Forget to Deep Link
Deep links help lead audiences to a targeted piece of content within your mobile app or web page. Without deep linking, for instance, a push notification encouraging customers to check out a new product may direct people to your app's home screen with no clear guidance on how to navigate to the item highlighted within the campaign. It's no surprise that this kind of (broken) experience is unlikely to result in conversions. Our data shows that deep linking, on the other hand, can help brands increase:
Upsells by 2X
Purchases generated via special offers or promotional campaigns by 2.5X
Flash sales by 21%
General purchasing behaviors by 6.9X
#7: Skip Emojis for This Type of Campaign
Although the majority of abandoned cart reminder recipients (81%) receive messages with emojis, Braze data shows that when these types of campaigns contain emojis they perform 65% worse than messages without these special characters. So consider focusing your customer messaging on words and images—and saving your favorite emojis for your messages to friends and family.
#8: Send Campaigns When Your Customers Are Most Likely to Engage to Maximize Upsell Conversions by 9X
The Braze Intelligence Suite’s Intelligent Timing feature enables brands to send campaigns to audiences tailored at a specific time that's tailored to their 1:1 individual behavior, based on when each recipient is most likely to engage. This type of send method is so effective it can help brands achieve gains in upsells by 9X compared to messages sent without using Intelligent Timing, according to our insights.
Elevate Your Customer Engagement Campaigns
Looking for new monetization campaign ideas? Want to get more out of your current monetization campaigns? Be sure to get your copy of our Braze Inspiration Guide. Inside, you'll find step-by-step instructions for 40+ customer activation, monetization, and retention campaigns designed to optimize outcomes across email, SMS/MMS, mobile push, in-app messages, Content Cards, web push, in-browser messages, and social media ads.