For being a successful entrepreneur, you need to be fanatic with your creation, implementation, and utilization. Owing to the fact that e-commerce startups are risky maneuvers, a smart entrepreneur will play all his cards wisely. Once you kickoff with quality products, a good website design, and landing pages, the next big challenge is marketing, advertising, and PR. Marketing is considered to be one the most sensitive frontier where you must play safe and secure as it may consume a significant portion of your investment.
The marketing goal that any business wants to achieve from their campaigns is the product introduction and brand awareness among potential customers and masses. Email marketing is a perfect cost-effective tool that directly communicates with customers in a fast fashion and is regarded as one of the most powerful tools of modern age marketing.
According to surveys, an average user checks his email inbox at least twice in a day and that is why email marketing accounts for over 7% of all e-commerce transactions. Email marketing is a platform where small businesses can compete with the giant ones and differentiate their products from the rest without much of an investment.
Increasing ROI from Email Marketing
Email marketing drives far more sales as compared to Facebook, Twitter or any other marketing channel. In terms of ROI (Return on investment) for every $1 spent, email marketing generates $44-$48 in ROI.
While email marketing is quite attractive; is it not easy at it sounds. DMA says that 77% of the whole marketing ROI was generated from segmented and targeted campaigns in 2015. These figures indicate that you need to put all your efforts in the right direction otherwise things may backfire, and you end up ruining the company’s reputation.
The Art of Segmentation
Email marketing is around us for more than 26 years, but email marketing today is far different than it was like 10 years ago. Thanks to tool and developers, today we have the opportunity to segment and personalize email marketing to the finest distinctions and multiply its effectiveness to a greater degree. Segmentation is apparently simple but is an extremely powerful mechanism. Segmentation is the art of thinking in groups.
There is an intense competition for attention in your subscriber’s box and sometimes your emails don’t even makeup to your potential client’s inbox. This is the reason you must have a firm grip over the segmentation techniques and considerations. There are dozens of artistic ways you can segment your email list to run super effective campaigns that your customer will enjoy and most importantly generate leads and drive sales.
Here are some simple and easy strategies that have been proven effective and result orientated in driving sales from email marketing.
Targeting by Demographics
Demographics play a major role in segmentation. This includes all information such as age, gender, organization and all that data that unwinds a person needs and interests. These statistics tell a lot about a person and how much information you can get in the signup process is the real skill.
Provide more fields but be extra careful and vigilant with this. Be small and innocuous. Asking too many questions and information can frustrate visitors in the signup process. Try to get more of the buyer personas that include information of his nature, as well as further detailed descriptions of what makes his folks tick and how your solution provides value for him.
Targeting by Interest
Targeting by interest is such an important aspect of segmentation that must be paid attention to. Once you filter the demographics, the next funnel is sending customized content to specific groups of your target market. This multiplies the chances of a customer being interested in the email. Keep track of your costumer’s activities on your site so that your emails contain the content relevant to their interest and priorities. This is the point where your brand loyalty is at risk. When you send out emails to people irreverent to their interest position or situation, it may turn them off and imprint a negative brand impression.
Buying Frequency and Purchase Cycle
Scrutinize your email list based on past purchases and how often someone purchases. See if individual consumers come to you on a weekly or monthly basis. This is two-way advantageous; firstly by knowing the buying frequency you can analyze and interpret your strengths and if, in case, frequency starts to drop, try to find out what are you missing and what more needs to be done. Secondly, you can also reward your frequent shoppers with invitations to your loyalty program. Purchase cycle is an indicator that tells you the time to hop in at the point of customer’s need.
Target Inactive Consumers
No matter how hard you work out on sending content relevant to customer’s interest, there are times when customers stop being responsive to your messages. Sometimes they are too busy and sometimes they lose interest in your campaigns. At this point, you must dive in your content and come up with something different.
To get a good idea of what your customer is thinking, try to re-engage them with a quiz, or a contest and giveaways. Remember, targeting new customers is essential for business consistent growth but keeping intact the present customers is crucial for its survival.
Sending Personalized Greeting Cards
Nobody likes to interact with robots. We, humans, are emotional beings and this is our weakness. No customer or subscriber wants a display of products on his screen 24/7. Consumers look for a personalized connection and a great way of achieving this edge is to send them personalized greeting cards and well wishes on Eid’s, Christmas, New Years, and other holidays throughout the year.
I believe that without segmentation, it’s very hard to make sales from email marketing. It may sound a bit tricky but is indeed a powerful mechanism. Just a bit of creativity and a decent amount of research can take your sales to whole another level.