According to Harvard Business Review a 5% increase in customer retention increases profits by up to 95%. Yet, the average business devotes the vast majority of their marketing budget to acquisition. While enticing new customers is important, no marketing channel can boost loyalty the way that email can. Since people typically sign up for email to be notified about promotions, you can use that information to increase sales.
A good first experience with a business builds trust and fosters loyalty. A great welcome email, with a warm introduction that reinforces your branding, can help turn subscribers into loyal customers. Say ?thank you? for signing up and list the perks that come along with subscribing. Offer a discount and highlight what sets your products or services apart from your competition.
Make sure that every email is not simply a sales pitch. Discounts are great, but if your email marketing has nothing else working for it, subscribers will quickly get tired of relentless pitches. Newsletters with information that is important to your customers, new product or service announcements, and news about changes to your industry should be added to the mix. Links in those emails should point back to your site to create opportunities to convert.
Last, but not least, make sure your transactional or triggered emails follow the same formula as your welcome email. Don?t miss out on conversions by simply thanking someone for their order. Use these additional opportunities to cross- or up-sell.