In the world of social media and texting, you may have stopped some of your email marketing campaigns or never bothered to revamp your marketing strategies. You aren’t alone. In the wake of social media marketing, many people believe email marketing had its time and they moved on to mostly social media marketing.
Other business owners recognized a need to change their email marketing, so they could become relevant to a society of smart phone and tablet shopping. As a result of the changes they made, these companies saw an increase in revenue. So can you.
#1 Personalized Emails Engage Customers and Increase Revenue
In the past, companies used mostly generic email marketing campaigns. With social media becoming such a major player, those campaigns had to evolve into personalized emails and nowadays many companies are using “deep personalization” emails.
Blank Label Doubled Email Marketing Revenue
Danny Wong, co-founder of Blank Label, writing for Inc discusses the use of deep personalization email campaigns. Wong writes, “Over the last year, this has more than doubled our email marketing revenue.”
Prior to going with this strategy, Wong reports that their generic emails resulted in a 30%-40% open rates. Business owners use this strategy to more openly engage existing and potential customers and to build lasting customer relationships. Certainly it is easier to sell to repeat customers than to new ones. The method of deep personalization is effective in continuing to engage those customers, while also picking up new customers.
#2 Incentivizing Customers with Email Marketing Campaigns
Use incentives to generate more revenue. You can offer customers specific discounts or alert them to items they might like based on previous purchases.
- Include a 20% off coupon in your next newsletter.
- Create a series of different incentives to send out in a two-week email marketing campaign.
Everyone Loves Coupons
Whenever a customer makes a purchase, include a coupon for their next purchase with the receipt email. If they don’t make a second purchase within a few days, send another incentive email. Personalize each email with an incentive selected specifically for that customer.
#3 Engage Customers with Emails
With personalized emails you can create a relationship with customers. You can customize emails to reflect the customer’s buying preferences, alert them to VIP sales or last minute deals.
- Engage customers with personalized emails using their first names.
- Send an email that you’ve missed them and offer a time-sensitive shopping discount.
- Include a survey and reward with a thank you email and incentive.
People enjoy getting free information. You can include tidbits, how-tos or article teasers with a link to the full article on your website. Make sure the website content is engaging. Have other clickables on that page, including a coupon reward.
Send a second email thanking them for visiting your website and remind them of your current sale or the enclosed coupon code.
#4 Work Your Leads
When people sign up for your newsletter, engage them immediately so they don’t forget you. It may take some time for those leads to end up as customers. Just remember, they had an interest when they signed-up for your newsletter. Once you zero in on their interest, personalize emails to reflect this.
#5 Email Marketing Outperforms Social Media
If you have pumped all of your efforts into social media and neglected your email marketing campaigns, you may have seen a significant decrease in revenue.
According to Aaron Agius writing for Entrepreneur, “Email marketing works 40 times better at getting customers than Facebook and Twitter…” Agius states that when email marketing conversion rates are compared to social media, the conversion rate for email is 17% higher than social media. The purchases are also more.
Changing Attitude about Email Marketing
With all the emphasis on social media, attitudes toward email marketing have shifted. Those succeeding with email marketing campaigns recognized the need to change strategies. You can improve your conversion rate by following their lead to make your emails dynamic, engaging with rich content, personalized and containing incentives for customers to click-through.