Email Marketing – Retain customers in a cost-effective way.
Email Marketing is the most primitive yet cost-effective method of attracting potential customers. But sometimes, as a marketer, we always strive to attract new customers instead of focusing on the ones we have. You could face the results in the form of losing your existing customers.
Competition in the marketing arena is soaring high, and that’s why it’s easy to lose customers mid-way through a business process. Retaining and re-engaging customers to buy your products has become a challenging and complicated task. The phenomenon is called customer churn, usually happens when a customer stops purchasing products related to your brand.
Take care of your existing customers.
It’s a natural psychological phenomenon to keep on running after more and forget cherishing what you have. You could be catching new customers and, at the same time, losing the existing ones. A better way to increase conversions is to take care of your current customers because they have already felt a pull towards your brand; that’s why they have bought from you. Therefore reigniting that pull is entirely possible.
Note: There are 32 percent chances of your first-time customers to buy from you again and 53 percent chances of your second-time customer to purchase from you again with the right email marketing.
It is not as easy as it appears to be, you need to have some refined and polished marketing strategies to pull customers, and Email Marketing is the best way to do so. That means, to send engaging emails to the customers to retain them.
How customer retention emails are relevant in email marketing :
Stay in touch with your customers:
Keeping in touch with your customers is as important as engaging them. It will enhance your brand value and reputation.
Marketing expenditures using email marketing:
You have to spend a lot of your expenses in attracting new customers. It will be useful if you focus on existing ones as attracting new ones is five times as expensive as retaining current customers.
Enhance customer retention value by email marketing:
You can earn significant revenues by retaining customers as you can upsell and cross-sell the products. For making good revenues, you need to engage customers with targeted retention emails.
Now, view a few of the key retention mails, which can help you reduce the churn rates and pull customers back to your brand.
How email marketing helps you enhance customer value :
View these few types of customer retention strategies to amplify customer value.
1. Send welcome emails:
These emails are a great way to remind customers why they have signed up and what your products and services are. You can show them who you are as a brand and what value you can give them to satisfy their needs.
Therefore, send a welcome email to the customer as soon as he or she signs up for your newsletters. You can contain relevant content in such emails by email marketing to inform them about your products. You can ask them to download your ebook for free of cost, which will form a good impression of your brand.
2. Send friendly reminders:
Remind your customers from time to time about your valuable services to hold a space in their minds. An e-commerce store usually sends reminders and retention mails:
- Cart abandonment:
Offer your customers’ catchy discounts and offers as they abandon your carts. Pull them back to take the required action.
- Recommend products:
Send personalized suggestions to the customers based on their interests and other psychological and demographic factors.
- Repeat purchases:
Engage your customers with reminders in case your products are a regular order.
Similarly, if you are in B2B businesses, you can cross-sell or upsell your products by recommending customers about your other services.
3. Give rewards and exclusive offers:
Your customers are your most significant assets. Treasure them by rewarding them and engaging them in loyalty programs. That is why they can be your biggest brand ambassadors. Then, your regular customers need some praise and recognition.
Therefore, you can engage them with special offers and discounts on holidays or special occasions as most customers subscribe to the emails to get regular updates about the offers and discounts. Help them with the same through personalized emails.
4. Asking feedback from customers:
Asking feedback works manifold on your business strategy. First of all, customers will know that you value them. Secondly, you can have their opinions to improve your business.
If you are running an e-commerce business, you can ask customers feedback through product review requests. So, If you are into service-based business, ask their feedback through surveys.
5. Send regular re-engagement emails:
Pull back your old customers or your leads back who are not in touch with your business. Also, you can use a CRM tool to track customer engagement. This way, you can reduce your workload by setting up retention emails when a customer has not engaged with your brand for a long time.
You may also encounter some cases; when a customer unsubscribes from your services, you can send re-engagement emails to allow them to change their mind. For example – If a customer unsubscribers to your services, you can ask them to restart their membership again with a link through email marketing.
6. Reconnect with the segmented audience:
Most of you might still not be aware of the benefits of a segmented audience. As a marketer, you can leverage the great benefits of segmentation. Segmentation and personalization go hand in hand.
You can segment your audience based on various factors such as age, occupation, geographic location, their behavioral attributes, etc. It is the best way to pitch the offers to your different buyer groups. You can’t sell out a product to all of your audience. Therefore, divide your extensive database and create an engaging email marketing content strategy based on the segmented data.
Note: Send relevant emails to the customers at the right time and increase your CTR rates and engagement rates.
It’s essential to keep your database updated and segmented apart from building up more customer retention strategies through email marketing. You can achieve the goal very well by evaluating the performance of your marketing campaigns.
Your fundamental goal is not just limited to earning high revenues but also to have a secure, happy, and memorable transaction with the customers. If your customers are satisfied and happy, they will themselves retain; you don’t have to put much extra effort, convincing your customers time and again for buying your products.