On average, it takes 5x as much money to acquire a new customer than it does to keep an existing customer happy and coming back for more. It’s true. Customer loyalty is one of the most powerful assets a business can have. It’s also one to easily improve. By properly targeting your customer base, you can boost your revenue, increase brand awareness, and create life-long advocates of your business.
Check out the following video for tips on effectively slicing and dicing your existing customer base for targeted email promotions. After you watch the video, scroll down for a deeper dive.
Ready to get started? Here are 4 tips to to optimize targeted email promotions right now.
1. Analyze the past
If you’ve run an email marketing campaign before, start with whatever tactics have proven to be successful. That’s where you’ll find the lowest-hanging fruit. Whether you ran a promotion around back to school or the holidays, if customers liked it last time, just rinse and repeat.
2. Cross sell and upsell
By targeting customers who have purchased a product before with a tailored email promotion with an add-on, related item or accessory you can really make them feel special. Did they get an MP3 player? Give them a discount on headphones! Did they buy some snappy khaki pants? Offer them 3 belt suggestions to compliment them. Crossing selling and upselling is a no-brainer, and the results can really impact your business’s bottom line.
3. Reward your BIG spenders
Take a look at your orders and target people who tend to make larger purchases. If they are spending a lot of money, odds are pretty good you can get them to purchase again. Offer them a coupon to come back and buy even more. You’ll absolutely want to keep those high-return customers happy and coming back.
4. Energize brand advocates
One of the most important segments to get right are your brand advocates. This group includes frequent buyers, social media fans, customers who recommend you to others, and even those who write reviews. Before anything else, make sure you know who your best customers are and roll out the red carpet for them. Tailor your emails to acknowledge them. Send a thank-you, like advanced notices on new services or products, rewards for their loyalty, or a survey for their feedback. The happier these folks are, the louder they will shout their love your your business.
Remember, customer loyalty needs to be nurtured over time. There are loads of things you can do to awe and delight, but email marketing is a great method to communicate targeted and tailored messages that encourage customers to keep on coming back to buy.
Thanks for tuning in to our weekly #SellMore video series. More tips like this to come next Wednesday. Until then, happy selling!
