Email tactics for revenue growth

Article Written by  : WSX Hosting

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.

Why Email Still Remains A Trusted Marketing Platform

Contrary to what you might think and believe, email isn’t dead. Businesses still thrive on the capabilities of email and continue to do so even in today’s competitive market. Known as being one of the most direct forms of communication, email provides a business with unlimited ways to reach out to their customer base. Even the largest of companies still utilize email as a platform for both networking purposes and to generate leads.

Customer Retention

While social media has been proven to drive traffic to websites, one important aspect that many businesses overlook is the fact that once you bring in the customers, you’re going to have retain them. Email is the ideal way to stay in contact with your consumer base. It also grants a business the ability to consult with the client one-on-one, maintain privacy and allow for a back-and-forth conversation to occur. Continue reading