Nicky Lomax, former Head of CRM at Ted Baker, shares critical insights on building and optimizing a CRM strategy for fashion ecommerce in an era of rising customer acquisition costs. She emphasizes customer retention as a core business driver, detailing how to conduct a CRM audit, fix tech stacks, and implement effective SMS campaigns. This episode is a must-listen for ecommerce operators looking to transform their CRM into a powerhouse for loyalty and profitability.
Key takeaways
Prioritize customer retention over new acquisition; with rising CAC, retaining existing customers is more cost-effective and essential for profitability.
Conduct a comprehensive CRM audit covering strategy, reporting, team structure, technology stack, and delivery processes to identify gaps and opportunities.
Implement a robust SMS marketing strategy, but ensure it's well-planned and integrated into your overall CRM to maximize engagement and ROI.
Develop strong negotiation skills for managing supplier relationships to optimize budget efficiency and secure better terms with vendors.
Foster strong team collaboration and leadership involvement in CRM decision-making to ensure successful implementation and ongoing optimization of strategies.
Nicky Lomax is a super star CRM leader–most recently spending 4 and a half months at global fashion retailer Ted Baker as Head of CRM to build and train the new team, fix the CRM tech stack and database, launch SMS, cut costs, and put in place a killer strategy for 2024. Hit PLAY to hear: The importance of CRM in eCommerce How to start building your CRM strategy Going about doing a CRM audit Why negotiation is an crucial CRM skill The role of the team and leadership in CRM Key timestamps to dive straight in: [03:32] Nicky’s eCommerce journey. [07:36] Cost per acquisition is going up; focus on retaining existing customers. [09:05] Get into SMS and get your strategy right. [14:03] Assess strategy, reporting, team, tech, and delivery. [16:13] Optimising supplier relationships to maximize budget efficiency. [19:20] Team collaboration and involvement in decision-making crucial. [20:52] Nicky’s Top Tips! Full episode notes here: https://ecmp.info/489Contact SHOPLINE >>> https://ecmp.info/shopline Genie offer: 30% off for the first 2 months >> <a hr
Prioritize customer retention over new acquisition; with rising CAC, retaining existing customers is more cost-effective and essential for profitability.
What does this episode say about customer retention?
Conduct a comprehensive CRM audit covering strategy, reporting, team structure, technology stack, and delivery processes to identify gaps and opportunities.
What does this episode say about founder & leadership?
Implement a robust SMS marketing strategy, but ensure it's well-planned and integrated into your overall CRM to maximize engagement and ROI.
What does this episode say about ai & automation?
Develop strong negotiation skills for managing supplier relationships to optimize budget efficiency and secure better terms with vendors.
What does this episode say about email & sms?
Foster strong team collaboration and leadership involvement in CRM decision-making to ensure successful implementation and ongoing optimization of strategies.
