An optimized email marketing strategy can breathe life into a company’s e-commerce. Although many are claiming that email campaigns are over saturated, email still stands as the best connection between you and the consumer. Implementing an email strategy can not only increase sales but also profit margin all while establishing a relationship with customers. Email marketing will provide your business with the flexibility it needs to have optimized marketing at a budget friendly cost.
How to Build an Email List
Before any email strategy can be implemented, it is necessary to build an email list. Every e-commerce company has, at a minimum, a list of their past customers. However, solely sending emails to past customers will not provide the growth needed for success. Strategies can be put in place to accumulate an expansive list of both past and potential customers, who will, in turn, pave the way to increased sales.
One strategy is to add a pop-up with a coupon code on the landing page of your website. The pop-up will not only gain another email for your list but also encourage the browser to become a customer. Similarly, you can prompt the viewer to download bonus digital content that is related to your products. It will reward your customer for opting into emails while providing a new interested list member.
Referrals are another email list building strategy. Through referrals, a company can receive new customers within a similar demographic as past customers who have a level of interest in the company.
Creating Engaging Content
An average person will receive over 400 commercial emails per month. With such a high level of saturation, it is imperative for your email campaigns to stand out. Email campaigns hold the risk of being marked as spam and lost to the trash. By creating engaging content and segmenting your email list, you can avoid this.
It is wise to start off any new list members with a welcome email. Welcome emails will pull in people who already have shown interest in your company while their interest is still fresh. These emails have 86% higher open rates than any other email and will have up to 320% more revenue per email.
Although hooked on the welcome email, it can be easy for a new customer to be pushed away by irrelevant content. There are two ways to avoid sending irrelevant content. The first is to ask the customer up front what kind of content they would like sent to them. The second is to segment your list appropriately.
Segmentation is key to targeting and retaining customers on your email list. Segment your list into groups of interest and buying status. You’ll want to separate potential, first-time, occasional, and frequent buyers. Each of these groups has different levels of interest and can be strategically targeted as such. Since the cost of email marketing is low, you can test different strategies on different segments to ensure you are optimizing your marketing. This is an easy and inexpensive way to refine your digital marketing strategy while keeping your margins in check.
Email campaigns should be designed to motivate action. Treat each email sent as you would a storefront. Clean, attractive to the eye, and begging the customer to come in. The email content should be easy to read with limited copy and everything should lead to a single action. People tend to sort through their emails quickly, so you want to grab their attention and hold it.
Closing the Sale and Creating Loyalty
Email marketing can be key to motivating potential customers to become actual customers. It is one of the best marketing tools to reach out to customers and can be leveraged to increase your profit margin.
Here are ways to close sales and keep customers coming back through email:
1. Marketing Automation
Create triggers on your website that send specific emails to the viewer when engaged. By alerting the customer that an item they were looking at went on sale or one that was out of stock is now stocked you provide them with the level of customer service they would receive in a store.
2. Abandoned Cart Emails
On average 69% of carts are left abandoned. By sending an abandoned cart email you can remind the potential buyer of a product they may have forgotten. Abandoned cart emails recover 15% or revenue lost to forgetful or indecisive buyers.
3. We Miss You Emails
Remind a past customer of what they have been missing. If a customer has not purchased anything for a while from your site, helpful reminders can guide a prodigal customer back to your store.
4. Loyalty Program
Existing customers are 12 times more likely to buy from your store than new customers. Through rewards for loyalty, customers will be incentivized to keep coming back.
A well-leveraged email campaign can revitalize your company’s e-commerce. Even as you test different strategies and expand marketing efforts, the cost of emails stays low. Therefore, as you scale and retarget your profit margin will increase as your marketing effectiveness is refined. Through the establishment of a diverse email list that is well segmented along with clear and action driven emails, engaging customers can be easy.