Revive Your Sales with Email Marketing
In the most basic sense, email marketing is the use of email to promote products and services. However, email marketing can be used for so much more. From retention to reactivation – It’s a strategy used to communicate with current or potential customers as a way to develop relationships and build brand loyalty.
Why email marketing?
Email marketing is a highly measurable communications tool which is proven to be 45 times more likely to get your message heard than the likes of social media. Subsequently, it has a higher long-term return on investment (ROI) too. According to the 2019 Email Marketing Census, 59% of respondents commented that marketing emails influenced their purchasing decisions. So, it’s definitely a strategy worth considering!
It all starts with data
We often see many companies diving in and eager to begin their first campaign. But our biggest piece of advice is to STOP and EVALUATE your data. When it comes to email marketing, in particular, data is your best friend, and you should use it wisely.
The more data you have and the better the quality of that data is, the more you’ll be able to your emails relevant and personal – So it’s definitely worth putting in some groundwork to get this started.
Top Tip – Make sure you have clear opt-ins. GDPR is still something which is monitored very closely and data protection is imperative so don’t fall at the first hurdle.
Mapping Your Journey
When deciding exactly what emails to send, it’s always beneficial to map out the journey of your customers – Where are the potential touchpoints? If you were a customer, what kind of information and products would you like to know about? By doing this you will truly identify when you should be contacting your customers and in what circumstance.
It’s important to remember that not every one of your customers will be the same, so make sure you group different personas into different segments – This will help to make your emails more personable and relevant for a successful strategy.
Email Marketing for Customer Retention
Increasing retention rates by just 5% can increase profits by up 25-95%. Looking after your current customers is something that should not be overlooked. Retention starts right at the very beginning.
Remember, it’s not always about the hard sell. Use email to build better relationships with your customers. Take your customers on a journey to keep you front of mind. It might be that you want to ask for their feedback or you want to build a place for knowledge exchange and sharing experiences – all of which will help tailor your email marketing strategy moving forward.
One area that can so easily be forgotten is forgetting to THANK your customers! Everyone likes to be thanked, so don’t forget to take the time to thank your loyal customers for their time and purchases. If you have a set number of really loyal customers, make sure you do something to make them feel special.
There is so much you can do to retain customers but our biggest piece of advice – MAKE IT PERSONAL.
Email Marketing For Customer Reactivation
“Retaining customers costs between 5-25 times less than acquiring new”.
It is considerably cheaper to retain the customers that you have as opposed to trying to find new ones. However, this can sometimes mean utilising a reactivation strategy to gain repeat sales from old customers!
When looking at customer reactivation, start by considering which inactive customer types are most likely to repeat purchase. It is better to focus on customers that you have had contact with more recently and have a higher customer value – these are likely to give you the most back in return!
Here is a breakdown of who we think you should prioritise.
You should target the ones with less potential as a secondary to those with the most potential highlighted in column 1.
Reactivation Top Tips
First things first, if you are trying to reactivate a customer – You’ve got to make them WANT to hear from you! So, make sure you are bold and grab the attention of your inactive customers! Our favourite example is when Virgin told customers they weren’t having any sales on tickets again! It’s the perfect example of bold, fun and engaging.
Don’t forget to make sure you ask probing questions – You want to know WHY they are inactive. It might seem so simple, but if you ask the question why, you can adjust your user experience accordingly.
We strongly believe that a reactivation campaign cannot simply rely on one email – According to Return Path not everyone will respond to an initial email, but 45% WILL respond to subsequent messaging – So have a strategy in place.
And finally – If a customer simply still isn’t interested, bin them. There is absolutely no point in keeping someone on your database to make the numbers up – They will cost you more and you will see no ROI.
If you want to find out more about retention and reactivation through email marketing, then watch our Rural Roundtable webinar below or get in touch.