Make More Money in Your Online Store with Email Marketing
Email marketing is the key to making more money in your online store.
Why? It’s all about giving customers the option to choose (I’ll explain why in a bit).
Just think about your own online shopping experience. You can click to almost any website of a major retailer and see the inevitable pop up box, asking for your name and email address in exchange for weekly updates, exclusive discounts and more.
Now of course some folks do it better than others (I’ll help you optimize your efforts later in this post) but using email marketing is a core strategy for any successful online venture.
You have to be in the conversation and that happens in the inbox. Maybe you’re already doing it a bit, a welcome email here, a shipping confirmation there.
But if you want to generate even more sales, to really leverage what’s working in your business, you have to implement a full-scale strategy. It goes beyond sending a promotional email about a site wide sale during the holidays.
Consistent engagement through email marketing is the key to more sales online. And here’s why:
Almost two decades ago, marketing guru Seth Godin coined the term ‘permission marketing’ formally “an approach to selling goods and services in which a prospect explicitly agrees in advance to receive marketing information”.
Email is now the preferred method of communication among consumers. Why? Because they have control over it. They can choose to act on it (open and engage), ignore it, delete it or opt out of it entirely.
The power of choice is not only empowering for the consumer but endearing when it comes to the brand. And what customers think (not what you say) is what really defines your value.
Companies that send relevant, clear and beneficial emails not only retain more subscribers but build lists of high quality leads and prospects—people that they can sell to more than once, people who will be engaged and eventually become advocates and evangelists for your brand.
Let’s look at the numbers.
Email is 40 times more effective at acquiring new customers than Facebook or Twitter. – McKinsey
For every $1 spent, email marketing generates $38 in ROI. – Campaign Monitor
The total number of worldwide email accounts is expected to increase to over 4.3 billion accounts by year-end 2016. – Radicati Group
That’s a whole lot of people! And at least a portion of them are in need of your product. Marketing is what makes them want it.
Email is what I call a three-pronged attack. It (1) builds relationships (2) drives traffic and (3) boosts sales, all with a good bit of thought and a click of a button.
Pressing send may be the best thing you do for your online business.
It’s officially a business best practice when it to success in e-commerce.
But how do you harness its power for your own business? It starts with building a list, click here to read more about that.
If you already have a list, there are some simple things you need to know and apply to start seeing email marketing work (better) for you.
1. KNOW YOUR CUSTOMER
I can’t say this enough! Companies that have a clear picture of their consumer know exactly how to incentivize their engagement.
Whether it’s getting them to follow you on social media, to share a promotion with a friend, or just to open an email in the first place, you have to know how to speak your customer’s language. This helps increase everything from sign ups to email opens to click-through rates
2. HAVE AN ATTRACTIVE, HIGH-VALUE OFFER
Think about it.
If someone offered you general updates, what are you actually expecting? You don’t know. That’s how a shopper feels. And that confusion makes them less likely (and reasonably so) to share their information.
After all, email is like a safe haven with all the noise from ads and promotions online and even on social media.
What’s in their inbox is usually under their control.
So remember that there has to be an element of relevance, something tying your brand and your products with their lifestyle. If the value isn’t there, then you can’t have any hope of selling to that person.
3. BE CLEAR, CONCISE & CONSISTENT.
Shoppers usually make a decision to stay and engage or leave and look else where in less than five seconds after reaching your home page. That means you have to get them to stick around long enough for an email pop-up box to be an invitation and not an interruption (or reason to escape).
The best e-commerce sites tell browsers why they’re there, what they can expect, and how to access whatever promised benefit that your product delivers. That way, even if they’re not in the buying mood just yet, they’ll want to know more.
And what better way to introduce them to your brand than a friendly (targeted) set of emails (because a single email is definitely not relationship-building material). That puts them one step closer to becoming a customer.
The same goes for the email itself.
Through testing, you can determine the desired frequency and best times but when it comes to the content of the email, the direction shouldn’t change.
Whether it’s a new blog post, recent brand video, or new product release, the goal is to always get them from the email and onto your website. And that’s means the message should be loud and clear.
4. PLAN AHEAD!
If you’ve already been sending emails on a consistent basis (customers are expecting to hear from you), then you can create and implement a promotional calendar.
Earmark any relevant holidays, brand anniversaries etc. and create special offers for email list members that increase the value of being a subscriber.
By knowing what’ll be happening when, you can prepare appropriate content and marketing collateral to boost the success of your email campaigns.