Email marketing is an old trick of the trade and is still a popular and significant force in digital marketing. This doesn't mean one-mail-fits-all marketing will work for you. Sending bulk emails is a thing of the past. It's the age of targeted email marketing which is guaranteed to give you increased conversion rates. In this article, we will look at a few stats on consumer behaviour and how that data can help you make customer groups and create a foolproof targeted email marketing campaign.
It's All in the Numbers!
Market studies state that email marketing is among the top distribution channels used by B2B and B2C businesses. The average email conversion rate in 2021 was 1.22% according to Barilliance.
Industry experts swear by automated emails. Kinsta reports some interesting numbers, let's take a look
- The highest open and click rates are driven by automated welcome emails. They are also the highest contributors to sales at 3.02%
- Cart recovery (abandoned cart) emails are right behind with an order rate of 2.35%
- With an average order rate of 2.13%, customer reactivation emails hold the 3rd spot in the list of automated emails and their contributions to order rates
The towering problem of abandoned carts haunts every e-commerce business. Sending out the right emails at the right time will help you regain up to 8% of the abandoned carts and in turn, give you an additional 4% gain in overall sales. Multiple studies state that almost 70% of customers abandon their carts without making any purchases. Barilliance states that 8.24% of cart recovery emails get converted into a sale.
Leading by Example
Many marketers are still using the age-old methods of email marketing as we knew it. Stay updated with tried and tested trends that will not be a waste of time and attention for your customers. Here are a couple of examples that will give you a head-start in the right direction.
Netflix's engagement campaign. No longer a monopoly on the OTT platform, it is difficult for everyone to keep the attention of their viewers. As a result, Netflix had to get more targeted with their emails. In their consumer engagement email, Netflix presents the viewer with a curated list of new shows based on their watch history. The specialty of this email is that the customer can just skim through the emails, thanks to the abundance of visuals. The positive about this kind of email is that the customer can stop and take a look at the trailer of any show that piques their interest by clicking on the CTA.
Tory Burch's promotion campaign. This is an email promoting an online sale. This Tory Burch promotion campaign is one to learn from for the following reasons.
1. Use of a simple animation to break the monotony - stand out amongst a crow of boring static emails.
2. Use of the words 'Private Sale' - making the reader aka customer feel extra special.
3. Strategic framing of the sale - encouraging the customer to take advantage of the special opportunity and make a purchase.
Nike's product promotion campaign. Nike sent out emails to two different groups of customers - Male and Female. Each email was strategically created and promoted products that would pique the interest of that particular group. For e.g. the women were sent an email about Nike's fancy new sports bras that would allow its wearers to make a fashion statement while staying fit.
Capitalizing on Customer Behavior Data
Consumer behaviour data is a gold mine, when tapped into it will you the strategies to run a successful targeted email campaign. Here are a few pointers to give you a head-start
1. Time is of the essence. Studying your customer's browsing and shopping patterns will help you send them the email that they needed to see. For instance, you're an ethnic wear brand. its wedding season and your customers are browsing for drop-dead gorgeous ethnic wear during their lunchtime. This is your moment to shine! Send out that email and watch your sales show better numbers than normal.
2. What did your customer buy? Keeping track of what your customer purchased from your website and when will help you prompt them to make the same purchase. Maybe they bought a tub of your handmade ice cream? In a week's time, you can send them an email asking for their feedback and reminding them to buy another tub or try a new flavour.
3. How much did your customer buy? Woah that's their 10th order! looks like someone likes your products! Target this group of customers with an exclusive sale or early access to new arrivals email. Make them feel special to keep them coming back. A few perks here and there will not only keep your customer loyal and coming back for more. They will also help in bringing in new customers through referrals.
That's a Wrap!
Now that you know how important it is to target your emails by strategically grouping your customers. Let's do a quick recap on what will this help your business achieve. Leveraging the data at hand for an effective targeted email marketing campaign will give you higher open and click-through rates, increased conversions, lower unsubscribed, and higher customer satisfaction.