In marketing, you may have heard how it costs considerably less to keep a customer than attracting a new one. Ideally, regular customers are loyal. They will stick around, recommend your product or service to others, and will pay more over time.
Essentially, you will benefit from regular customers in the long run, which is why retention marketing is important. If you haven’t given it much attention, then now is the time for you to come up with new ideas and strategies to keep your customers coming back for more.
One such way of making this possible is by email marketing. But if you are wondering what retention techniques to use with eCommerce email marketing, then here are a couple for your consideration.
Segment your Target Audience
To craft a retention strategy, you will need to understand your target audience and their behavior. Pay no heed to factors like age and other demographic data you have accumulated. Instead, pay close attention to how they interact with your products or services while browsing your store. If you think about it, they are doing the work for you by segmenting themselves based on how they interact with products or services available on your store. All you need to do is to determine which behavior is important, upon which you can implement retention strategies.
Some examples include:
- What is their purchasing activity like? How long has it been since their last transaction? Consider emailing such customers your new catalog, more specifically those who have not purchased anything in the last 30 days.
- Did they make a purchase using a coupon code? Send these customers more coupon codes.
- Did they leave a purchase hanging? Remind them to complete their purchase.
- Identify your highest value customers, and then thank them for giving you their business. If possible, throw in a bonus to ensure they do not go elsewhere.
Once you have segmented your target audience, it is necessary for you to engage your customers with the different types of email.
Types of Emails
Emailing your customers is free, and since you have already got their email addresses, why not put them to use? Keeping this in mind, here are a couple of email types you can integrate into your retention strategy.
After giving their email addresses, most customers expect to receive a welcome email. Overall, the purpose of a welcome email will be to:
- Introduce a customer to your company.
- Reinforce the importance of your product/service.
- Establish a human tone.
Acknowledge the fact that you are sending a welcome email in the subject line. To make this possible by incorporating a simple “Hi” or “Welcome” within the subject line.
Personalize the welcome email to make it seem as human as possible. Use the email as an opportunity to explain how your brand is different from the various others out there. Also, give your target audience a general overview of what they can expect from doing business with you. Lastly, emphasize upon the fact that you will give them all the assistance they will ever need in the form of customer support to build trust by showing them you value customer relationship.
When it comes to nurture emails, your goal is not to sell. The idea here is to build your brand. When customers want to buy a product that your company is selling, the first thing that comes to their mind should be your brand if your nurture emails worked the way they were supposed to.
For nurture emails, you will need to educate your target audience in regards to your product or service. You will need to give them an idea of the benefits that come along with it. Keep reinforcing your brand, and tell stories about your business to make it relatable.
Promotional emails play a vital part of any and all email strategies, the reason being they are effective at increasing conversions.
For your promotional email to work, you will need to design CTAs that stands out from the lines of text. You will need to create a sense of urgency to let your potential customers know they have a limited time to make a decision. Don’t overdo it though. Most importantly, explain why the promotion is being offered, as it reportedly improves conversion rates.
Cart Abandonment Email
It was found that the abandonment rate of shopping carts is 70%. This is where cart abandonment emails come in the picture, as they have the potential of recovering some of these incomplete purchases.
The email should be sent as soon as a customer abandons the purchase. It should serve as nothing more than a reminder, so don’t push too hard. To convince customers to go through, you can also send them discount codes, as in most cases customers drop a purchase because the final price is higher than what they are willing to pay.
Remember, there is no guarantee that customers will respond to your strategies for certain. For this reason, you will need to test and experiment until you find a solution that will meet your requirements.
Keep an Eye on your Competition
When developing a retention strategy with email marketing, it is a good idea to see what your competitors are up to. So here is what you need to do:
- Identify your competition.
- Engage your competitors by becoming a lead. See how they interact with you based on how you interact with their store.
- Set up a separate folder to receive their emails.
Once you have collected your competition’s emails, examine them to see where you are lacking.
Even though you think you know what you are doing, chances are you missing out on the big picture. In this case, it would be wise to contact an Email marketing agency for E-commerce brands to get further assistance. But if you think you can manage crafting an effective retention strategy, by all means do so. Just make sure you incorporate the best trends for your E-commerce website to get the best possible results.
About the author: Jenny Harrison is a passionate marketing and business blogger. She loves to engage with readers who are seeking B2B and B2C marketing related information on the internet. She is a featured blogger at various high authority blogs and magazines in which she shared her research and experience with the vast online community. Currently, she is associated with PNC Digital, an Orlando based E-Commerce Development Company specializes in OpenCart, Magento, Shopify Web Development.