Ranjit Dhillon Shares Expert Knowledge On Emails, Email Marketing, Email Acquisition, Email Campaigns, Enewsletters, Advertising Mail, Direct Emails And Sales Emails
Once a pioneering medium, email is still a key communication and method of choice in business. It is also an ideal tool for building existing relationships and initiating new ones. Whether you want to acquire new customers at minimal cost or achieve more profitable relationships with existing ones, email is undoubtedly one way to go.
Email for Retention
As with most businesses online you also need to acquire new customers and keep existing customers loyal. Far often many companies fail to leverage existing customer relationships, rewarding new customers and often forgetting their loyal customer base. Customer retention is not only easier to achieve than customer acquisition, but is often more cost effective.
‘Repeat customers spend, on average, 67% more than a new customer whilst retaining a customer costs 5 to 10 times less than acquiring one’.
Tactics for Retention
Analyzing customer lists and any data you hold about the history of your relationship with could be your starting point for any retention email marketing campaign. The more knowledge you have about your customers the better your marketing campaigns will run.
Once you have an up to date customer list, you could divide these it into segments. How you choose to group them could depend on your business objectives, but typical segmentation would involve dividing customers according to buying patterns or length of time since their last purchase. The profiles of these groups could provide the basis for your email campaign planning and strategy.
Just as with an Email acquisition campaign, it could be important for you to establish a success-criteria for your retention campaigns before you begin the planning. The objective of your campaign in the first instance may be simply to raise awareness and gain attention.
One way your could achieve this could be to send a highly personalized email, from an account manager or ‘Your Internal Team’, thanking them for their past custom and linking to an item of interest, for example sign up to a newsletter, find out more about the great value your new your services provide, Refer-A-Friend to get £? FREE credit etc.
Your first step may be to focus on ‘Refer-A-Friend to get £x FREE credit’ – And for this reason it is particularly important in that your emails are highly personalized.
NOTE: few customers could appreciate, or respond to emails that are blatant selling opportunities. Few of us like to be sold to – instead we prefer to make informed, self-guided choices at our own pace.
Timings and planning
- You could start by sending out a RAF newsletter once a month.
- Copy and structure could be developed in line with best practices and performing keywords.
- The positioning of content, with the RAF copy & CTA button could be displayed at the top of the email along with social media icons (focus).
- The copy could be created to be engaging and useful to existing customers, not sales orientated pushing plans (whether or not they are interested in the RAF, to build confidence with the customer that your newsletters are always worth opening and reading)
- Links should only be added to your HTML template once you have final copy agreed and approved through your legal or compliance dept.
- Email’s to your existing customer base should always be developed and sent using professional in-house or third party resources.