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Why Retention Emails Are Equally Important as Sales Emails http://ift.tt/2DIawVe If you work in marketing or sales, you probably spend a lot of time thinking about using email marketing to acquire customers — watching engagement stats, A/B testing content, and planning campaign after campaign to convert. If there was a secret to converting your email campaigns at 30 percent or higher, would you want to know what it is? The answer is in your audience — and it’s a list you already have right in your CRM. Here’s why you should be emailing your current customers just as much, if not more, than your prospects.
Why customer retention is importantRepeats beat first-timersAfter making a purchase, a customer has a 27 percent chance of buying from you again. If they make a second and third purchase, they have a 54 percent chance of making another purchase. These statistics showcase the importance of measuring customer lifetime value (CLV) — the projected revenue a customer will generate over their lifetime. Typically, the longer a customer sticks around, the more profit potential they have because the initial costs of conversion get smaller and smaller in comparison to spend. However, in order to get the most out of CLV, you need to retain, upsell, and cross-sell your customers. In order do that in a world of increasing noise and competition, you have to stay top-of-mind. And email is still the top way in which most people would like to be reached. When creating customer retention emails that keep you relevant, you have to remember it’s not about selling. It’s about providing value. Share information, tell a story, offer exclusives, brighten a day — when you show up with value in your customers’ inboxes, they’ll shop back up in your “checkout” line.
Referrals lower acquisitions costsEach time a customer makes a purchase, they are becoming more comfortable with you and are therefore more willing to refer you onto someone else. After 10 purchases, customers refer 50 percent more people to a business than a one-time purchaser. Repeat customers can actually increase profitability not only by making more purchases but by attracting more clients through word of mouth. It’s nearly free marketing — the only cost is retention. The key to retaining your customers in a way that encourages them to refer is to make them feel like they are part of your brand’s family. And families stay in touch. By emailing your customers with timely, relevant content on a regular basis you’re continuing to build your importance in their lives. You’ll make more sales and be the first product or service that comes to mind when a real-life friend or family member asks for a recommendation.
Customers are your best data pointsIf you want to learn how to convert your prospects, look no further than your current customers. That they’ve already taken the leap speaks to the fact that you did something right and through your long-term relationship you can get to know them better than you will ever know your leads. Use your retention emails to gather data on your customers and build buyer personas and customer journeys that you can then use to inform your acquisition efforts.
7 retention email ideas to get you startedIf you’re not sure where to start with customer retention campaigns, here are a few inspirational emails.
Printing via GetResponse Blog – Online Marketing Tips http://ift.tt/1Qs2QKR January 29, 2018 at 08:32AM
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