How to Execute Retention Improvement Strategies?
A growing online grocery delivery platform, "FreshCart," aims to improve its user retention rates significantly. The platform offers a wide range of fresh produce, groceries, and household essentials.
Complication:
FreshCart's current retention strategies are not effectively engaging its diverse customer base, leading to subpar retention rates. The challenge lies in identifying and implementing specific retention levers tailored to their varied user demographics and preferences.
Objective:
Your role is to analyze FreshCart’s existing retention strategies and user data to identify and deploy targeted retention levers. The goal is to create a balanced approach that incorporates demand-side, supply-side, product-side, on-platform, and off-platform strategies to enhance user retention effectively.
Specific Questions:
Question I: Using NPS Data to Identify Retention Levers
How would you use NPS data to identify key retention levers for FreshCart? Describe the process of collecting and analyzing NPS data, and explain how you would prioritize retention strategies based on the insights gathered.
Question II: Implementing Product Drops to Boost Retention
FreshCart wants to introduce product drops to enhance retention. Outline the steps you will take to decide on the types of products to include, the frequency of drops, and how to communicate these drops to existing customers.
Question III: Seasonal Sales Planning
What are the key components for designing a seasonal sales campaign for FreshCart aimed at boosting retention? Outline the steps to ensure the campaign appeals to both existing and new customers.
Question IV: Developing a Loyalty Program
FreshCart is considering launching a loyalty program. What are the key elements of an effective loyalty program for an e-commerce grocery platform, and how would you measure its success in improving retention?
Question V: Creating a Winback Campaign
What are the key steps to design a winback campaign to re-engage churned users at FreshCart? Describe the key elements of this campaign, and how you would measure its effectiveness in bringing back inactive users.