How WeDoCRM unlocked Old Gold Racing’s potential through a CRM audit. Old Gold Racing has revolutionised the racing syndicate model by becoming the first to offer a dedicated mobile and tablet app. This innovative approach gives horse owners real-time updates about their horses and creates a vibrant community of racing enthusiasts connected both online and offline.
Founded by Ed Seyfried, a former film producer with a passion for racing, Old Gold Racing brings a unique perspective to the industry. The syndicate was born from Ed’s desire to create an affordable entry point into racehorse ownership while maintaining the excitement and engagement that comes with being part of the racing world.
Meet those involved, get their take on the ownership experience and outline the key details in the article by the Racing Post “What’s it like to be part of Old Gold Racing?”
“Our mission is to create a seamless ownership experience that extends across multiple platforms, including our mobile app, website, social media, gift packages, and exclusive events,” explains Ed Seyfried, CEO of Old Gold Racing.
CRM Audit Goals
Known for its innovative approach to owner engagement, Old Gold Racing has developed a significant customer base of horse racing enthusiasts and club members and continues to grow. With this exciting growth, they decided it was the perfect time to take a fresh look at their marketing, strategy, and CRM systems to ensure everything was running smoothly and ready for the future. We sought to enhance their email marketing and automation strategies within Klaviyo, their chosen CRM platform.
Creating Measurable Goals After the CRM Audit
WeDoCRM set specific, measurable goals after the CRM audit to address the challenges faced by Old Gold Racing directly.
These goals included:
- Reduce Churn by 5%: To stabilise and grow Old Gold Racing’s owner base, especially amid a growing roster of horses, focused efforts to re-engage inactive owners and enhance retention strategies became essential.
- Optimise Customer Acquisition Cost (CAC) and Share Sale Cost (SSC): By refining the owner acquisition funnel, WeDoCRM aimed to bring CAC down by 10.7% and achieve a 37.2% reduction in SSC right away, allowing Old Gold Racing to scale efficiently.
- Enhance Lifecycle Journeys, Welcome Flows, and Campaign Structures: Improving the flow of owner interactions across different lifecycle stages was a priority, ensuring that communications were timely, personalised, and relevant.
WeDoCRM’s Recommendations
To help Old Gold Racing achieve its goals, WeDoCRM provided a range of insights and strategic suggestions designed to optimise its CRM and enhance owner engagement. Some highlights include:
- Lifecycle Optimisation: We identified opportunities to improve owner journeys, ensuring timely and relevant communications throughout key stages of the owner lifecycle.
- Enhanced Data Use: We suggested smarter ways to segment and target audiences to create more meaningful and personalised experiences.
- Fresh Design Ideas: To better reflect the Old Gold Racing brand, we proposed updates to email templates, aiming for more engaging and dynamic customer interactions.
- Creative Campaigns: Strategic campaign concepts were shared, focusing on personalisation, local relevance, and creative ways to encourage referrals and build community connections.
These recommendations are designed to help Old Gold Racing strengthen relationships with its audience, streamline processes, and grow its brand impact—all while keeping its unique identity at the forefront.
The Results and Impact
The proposed changes are anticipated to deliver transformative improvements in Old Gold Racing’s CRM performance, setting the stage for long-term growth and stronger owner relationships. Key expected outcomes include:
- Increased Engagement: Automation and personalised communication will help engage owners more effectively, leading to higher open, click-through and member conversion rates.
- Higher Conversion Rates: With a focus on lifecycle journeys and improved segmentation, ownership conversions are projected to increase, driving higher revenue.
- Reduced Churn: Retention-focused campaigns should help lower churn rates by re-engaging lapsed owners and encouraging long-term loyalty.
- Stronger Brand Consistency: Consistent branding across email and web platforms will enhance the owner’s experience, building stronger relationships and greater trust in the brand.
Are you currently using Klaviyo for your business?
Are you currently using Klaviyo for your business? Do you ever feel like there might be features or tools in Klaviyo that you’re not fully utilising? Or maybe you’re wondering if your current setup is working as efficiently as it could be for your business.
There could be some hidden opportunities to make your campaigns even better, whether it’s refining your customer segments, improving your automation workflows, or giving your email designs a fresh update.
Book Your CRM Audit Today
Our services cover everything from understanding your business processes and how you’re currently using your CRM or ESP, to setting up and configuring any improvements, training your team, and even setting up easy-to-use reporting tools to track progress and ensure long-term success.
By working with us, you’ll have a team of experts (you can meet them here) who specialise in making your CRM or ESP system work harder for you. Our approach is all about finding the best, practical solutions that match your goals, making things more efficient and helping you boost revenue.
Get in touch with us today, we’re looking forward to helping you create memorable experiences for your members, just as we’ve done for Old Gold Racing.
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Or email us: hello@wedocrm.co
