Increasing Business Revenue Through Email Marketing
Email has now become an ubiquitous tool for any company to market their wares. Indeed, it is so effective that, according to the Direct Marketing Association, companies will see an average return on investment of $38 for every $1 put into an email marketing campaign. However, it should be noted that for email marketing to be effective, companies need to use the correct approach
The following tweaks to your campaigns should provide you with the tools to boost revenue in this way:
1. Follow Up ‘Abandoned’ Carts
According to data from Baymard, a huge 68.81% of online shoppers abandon their carts before completing the checkout process, right at the final step. Although there are many reasons for why this might happen, sending ‘abandoned cart’ emails can be a surprising way to address the problem.
2. Use Email For Cross-selling & Up-selling
Amazon’s recommendation tool is a fantastic example of the way in which cross-selling and up-selling can positively affect business, and every company should use it as a model to aspire towards. Although it is effective during the shopping experience, conversion rates are actually much higher via email. Introduce and follow up on offers in your email campaigns to start seeing results.
3. Break Up Your Email List & Avoid Lumping Customers Into Broad Categories
According to research conducted by Marketing Sherpa, segmenting email subscribers based on interest can improve conversion rates by over 200%. Segmenting by age, gender, interests or site activity are some good places to start.
4. Send Your Emails At An Opportune Time
Sending emails between 10 and 11am has been proven to be an optimum time to boost sales. Furthermore, sending on Mondays in the week and Sundays on the weekend has been shown to have a similar effect. Make sure you consider these kind of factors before sending your email, and make considerations for different time zones.
5. Get Used To Automating Emails
Automation is a great tool for sending out emails when you may not be in the office and for personalising emails. As automation becomes more advanced, it is important you and your business stay on top of it. Some email services are already bringing in artificial intelligence in their email marketing, demonstrating that it really is the future.
