Increasing your company's sales is probably at the top of your business goals list. And powerful marketing is a precursor to that objective. While some marketing strategies are fitting for only certain business models, email marketing is relevant for almost all company types. A strong email strategy is necessary for businesses to succeed in today’s digital landscape.
Here are three must-have email marketing campaigns to increase your sales right away:
Follow Up Campaign
While it seems like a no brainer, a lot of businesses lack this basic strategy. In the sales world, people constantly discuss ways to improve their “first response time”. This refers to the time it takes for leads to receive their requested information from a company. In fact, this comprehensive article sites five minutes as the maximum time a business should take to respond to inquiries. This Harvard Business review study found that 37% of companies follow up with online leads within one hour.
In addition to expecting a fast response, one LeadConnect statistic states that 78% of customers buy from the first responder. I once conducted a competitive analysis for a business and submitted online inquiries for product and pricing information from five of the company’s closest competitors. Only three businesses responded to my request. Of those three, just one got back to me within the hour.
To ensure that you don’t lose your warm leads to your competitors, formulate a strategy to follow up with information requests and price quotes as quickly as possible. A phone call or personalized email is best. However, an automated response powered by email marketing software could suffice if someone isn't available to respond immediately. If you call the lead back, send a follow up email outlining the information you covered in your call. Responding to your leads quickly and thoroughly will give you a competitive edge.
Lead Nurture Campaign
The heart of sales lies in the follow up. Of all the competitors I contacted in my analysis described above, none reached out to me later to determine if I was still interested. Nor did I receive any follow up or promotional emails. Just as leads are likely to buy from their first responder, they also tend to buy from the business that stays most top of mind. This Salesforce article describes how it takes leads between six and eight encounters with a company’s marketing to finally make a purchase decision.
Create a plan to nurture your leads over time, so you don’t end up losing them after you spent precious marketing dollars getting them interested in your business. Your first response should be personalized with the specific information requested by the lead. Moving forward, your lead nurture emails can be automated by implementing a drip campaign. Use customer-centric messaging about how your product or service solves a problem your lead is encountering. Also, link to your website and other helpful resources to position yourself as a leader in your industry. Over time, your leads will develop brand awareness and be more willing to buy from your company.
Customer Retention Campaign
The best brand ambassadors are happy customers. In addition, repeat customers are significantly less costly to acquire than new customers. Creating happy customers who buy from your business on an ongoing basis is a key tactic to growing your company. The more they buy from you, the greater their customer lifetime value. This metric measures the total value of all of a customer's transactions with a business.
Implement a strategy to communicate with your customers on a regular basis, to keep them engaged and coming back for more. Offer a referral discount, a loyalty rewards program, or a special bonus exclusive to existing customers. (Or check out these ideas if you're in the e-commerce sector.) Also, leverage your positive customer relationships to cross-sell and upsell your products or services. Ask your customers to spread the word about your company on social media or leave a positive review. Strive to strike a balance between offering value to and requesting support from your customers.
Email marketing that addresses each stage of the customer lifecycle is crucial to a strong marketing strategy. Implementing these three must-have campaigns will help your business increase its revenue, acquire new customers, and deepen brand loyalty.