Email tactics for revenue growth

There are many different ways to promote revenue growth. There are strategies related to price increases, customer segmentation etc. The one strategy that can be automated the easiest is an email campaign. Here are a few set-it-and-forget-it email strategies that can be used to good effect:

Basket abandonment

According to the Baymard Institute, the average shopping cart abandonment rate is 68%. That is a lot of opportunity for regaining lost sales. Often the cart is abandoned due to other issues and is simply forgotten. A simple reminder email can have the customer back on the purchase process before they go elsewhere for the purchase.

Last day email

When running a sale or discount period, make sure to send an email reminder on the last day of the offer. The urgency of the ending special offer can motivate the customer to make a purchase. The reminder email causes them to make a decision quickly.

Upsell email

Upgrade reminder emails actually work when converting free users to paid users. Even when users sign up for a free trial, there is a sense of ownership. A reminder email that the trial period is ending triggers a loss-aversion that makes them want to sign up for the higher-tier in order not to lose access to the service.

Back in stock

The system should be set up that if a customer viewed an out-of-stock product, that they should get an email as soon as the product is back in stock. Research has shown that there is a 22% increase in sales when back-in-stock emails are utilized.