Customer conversion rate improvement activities

Customer conversion rate is the percentage of visitors who complete an action‚ such as placing an order‚ downloading an app or signing up for a loyalty program․ Measuring and improving conversion rate is a common revenue-increasing and customer loyalty tactic․

1․ Personalized Email Marketing

By using transaction data‚ Greggs can improve individual email promotions and product recommendations‚ allowing customers to make better purchasing decisions․

KPI:

•             Email open rate

•             Conversion rate

Business Effect:

Increased customer engagement and repeat purchases․

2․ Loyalty Rewards Programme

The Greggs app loyalty scheme encourages repeat purchases with rewards‚ discounts and offers․ Loyalty schemes provide an element of customer retention and develop long-term relationships․

KPI:

•             Customer retention rate

•             Customer lifetime value‌ (CLV)

Business Effect:

Increased customer loyalty and profitability․


3․ AI Product Recommendations

AI can also increase upselling by suggesting new products based on customer purchases and product browsing patterns․ For example‚ a coffee order may also suggest pastries or sandwiches․

KPI:

•             Average order value

•             Upselling rate

Business Effect:

Higher sales revenue and higher basket size․


4․ Improving the Mobile Checkout Process

Many customers abandon their purchases due to complicated checkout processes so Greggs should simplify mobile payments and reduce the number of steps necessary․

KPI:

•             Cart abandonment rate

•             Mobile conversion rate

Business Effect:

Better user experience and more completed purchases․


5․ Geo-Targeted Promotions

For example‚ Greggs could use location-based marketing technology to send a mobile push notification to its users when they are in proximity to its store offering them a discount on a breakfast item․

KPI:

•             Offer redemption rate

•             Store visit rate

Business Effect:

Higher foot traffic and impulsive buying․


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