Do You Miss Eating 🍽 At Your Favourite Restaurant? Just Order Your Food Online And Get It Delivered To Your Doorstep 🚪!
Malaysian budget carrier, AirAsia launched its food delivery 🛵 service in Singapore.
It continues to seek alternative sources of income outside of the battered aviation ✈️ sector. Its AirAsia food platform will initially feature about 80 restaurants, including Swee Choon Tim Sum Restaurant and No Signboard Seafood. About 300 other restaurants are in the process of being brought on board, AirAsia said on March 2nd.
The COVID-19 🦠 has shifted the ecommerce landscape in ways we could not have imagined. While some marketers are continuing business as usual, others are using this time to find the right customers, nurture relationships, and build loyalty 🤝. These advertisers are leaning into what we call value-based marketing.
The majority of revenue is driven 🚗 by their most loyal customers for most businesses. Value-based marketing focuses on finding and nurturing those relationships to help drive revenue and accelerate 📈 profit margins.
Here are 4 essential lessons in value-based marketing inspired by delivery apps that businesses can adopt:
1️⃣ Know what drives loyalty
Acquiring customers is easier than keeping them, and positive 👍 customer experiences are essential for earning loyalty. Consider what resonates with your highest-value 🙌 customers, then put that value proposition front and center.
2️⃣ Use KPIs to understand customer value
Not all customers represent equal ⚖️ business value. Many advertisers rely on cost per acquisition (CPA) as their Key Performance Indicator (KPI), which treats purchasers equally. Consider the value each customer delivers 🚚 and whether pivoting from CPA to reengagement ROAS makes sense for your business.
3️⃣ Use customer behaviour to drive personalisation
Consider what behaviours correlate 🔄 with high lifetime value, namely frequency, when thinking 💭 about segmenting customers. You can target the audience that is expected to provide higher value from there. Then, you can decide how much you want to pay 💰 for this type of customer, customise messaging, and share special offers to keep them engaged.
4️⃣ Site experiences should bring joy
Leading marketers obsess over creating seamless shopping 🛍 experiences, because they are not likely to return if a customer experiences friction ✏️. Going through checkout flow as if you were a customer and testing the experience on different platforms is one of the best ways to discover what may be impacting your conversion rate.
By adopting value-based marketing, you will be able to find and nurture relationships with loyal customers, which can help drive revenue and accelerate profit margins. If you would like to adopt value-based marketing into your business, talk to us to know more 🤩😎.
References:
Adweek.
Wei, T. 2021, March 2. AirAsia's food delivery service launches in Singapore with 80 restaurants on board. The Straits Times.
