Customer loyalty is one of the most important differentiators between a successful and a failed business. It takes time and and investment to attract new customers—customer acquisition costs alone can make it cost prohibitive to run a business. This is why taking steps to retain your current customers is vital to generating sales in a retail environment.
Keeping your customers in the loop about new products and services, alerting them to sales and special deals and simply staying in communication with them through email campaigns is a cost effective and proven strategy. In fact, one source claims that email marketing is more effective than Facebook and Twitter! We share with you tricks of the trade to implement email campaigns to ensure customer loyalty.
Know Your Audience
Email marketing is completely ineffective unless the emails are opened and read. In order to accomplish this, you need to tailor the content to your particular target audience. Do you know who your clients are? Knowing the following demographics can significantly increase the chances of your emails being read:
- Income level
- Purchase history
Once you have these demographics, you can segment your email lists to make them more interesting to your customers. MailChimp found that segmented campaigns get 14.64% more opens and 59.99% more clicks than non-segmented campaigns.
People get dozens, if not hundreds, of emails per day, most of it spam. We are so used to ignoring or deleting content that is of no interest to us, that it is increasingly difficult for retail owners to cut through the clutter. One way of getting a reader’s attention is to personalize the email that is sent out.
Experian found that simply including a person’s name in an email’s subject line increased open-rates by as much as 42% for companies that are selling products or services. And the biggest bonus was not just that more people read the emails, but that they spent more money! “Transaction rates were 49% higher and revenue per email was 73% higher with personalization.”
Share Interesting Content
To retain your customers, it’s not enough to simply make announcements in your emails, you need to create relevant content that is interesting and important to them. In addition to sales announcements, consider sending out articles that educate your readers about topics that are of interest to them.
One article explains that educating customers not only builds trust, but it also adds a human element to email marketing. When you are able to get your customers to trust you, you become an expert in your field in their eyes, which makes it easier for them to open their wallets and make purchases based on your recommendations.
Create a Call to Action
Always focus on the main goal of every email—it’s not just to get readers to open or read it, but to generate a sale and retain a customer. It’s not enough to hope that individuals do this, you need to ask, or better yet, direct them in doing so.
Include a call to action (CTA) in every single piece of email sent out. These can ask readers to like your social media page, visit your landing page, purchase a product or share your article with their social network.
There are many useful software programs that will help you design and test effective email marketing strategies that work. If you need financial help in setting up a marketing plan, turn to IOU Financial. We can secure a small business loan for you with a few easy steps and quick funding. Contact us today!