CASE STUDY: Thunderbolt Tea
How F&B Businesses Built Customer Acquisition with V-MORE AdTech
The Problem: The cost of acquiring new customers
Customer acquisition is the process of bringing new customers or clients to its business. In the last 5 years, the cost acquiring new customers has increased by over 50%. Many businesses spend most of their marketing dollars on finding new customers instead of nurturing its current customers base. This ongoing struggles costs five times more than retaining existing customers.
Customer retention is essential to the success and growth for businesses. It can result in long-term relationships and loyal customers leading to referrals to the business. Customer retention is the new acquisition. A mere 5% increase in retention can increase company revenue by 25 to 95%.
Increase in cost of acquiring customers
Increase in customer retention
Increase in company revenue
The Solution: Empower customers to promote the business.
One customer experience agency found loyal customers are 5 times likely to repurchase, 7 times more likely to try new offers and 4 times more likely to refer. Research has shown that the key to growth lies not with the business's marketing or sales team but their customer service team, and their customers themselves. Delivering more than basic customers' expectations is what delights customers to retain. Customers that stick around because they genuinely want to, can provide far greater value than increased revenue and they are business's best marketers.
The Result for Thunderbolt Tea
Thunderbolt Tea came on board with V-MORE AdTech to promote their business during the COVID-19 pandemic.
As a merchant with V-MORE AdTech, Thunderbolt Tea received its own unique link which was sent out to its existing customers base. This resulted in 13 customers acquired who enjoyed the benefits of V-MORE's "shop, save and earn" programme.
Orders per day
Increase in revenue
Each day, I've been receiving 40 to 50 orders and an increase in 10% in my revenue within the first week since my advertisement was uploaded. Additionally, I have sold out my pork lei cha.
- Thunderbolt Tea -