You already have paying customers. Are you missing opportunities to get more dollars from them?
You probably are.
A new whitepaper from Bronto Software explores how to improve your firm’s performance.
“Uncovering Missed Revenue Opportunities” examines what Bronto calls “underused or under-utilized tactical campaigns:”
- Welcome messages – In either a single message or a series, welcoming new subscribers can help educate them about your brand, engage them in additional channels, or prompt their first purchase with a limited-time offer.
- Product category messages – Collecting product category interests at sign-up can provide immediate opportunities to target relevant messages to both new and existing subscribers who have not purchased.
- Reorder reminders – Service-oriented messages like replenishment reminders can drive repeat sales as well as improve the overall customer experience.
- Lapsed purchaser – For customers who open and click but haven’t bought in a while, breaking the standard promotional cadence with a special offer can result in driving engagement to the point of purchase.
- Post-purchase series – There are several types of messages retailers can send after an initial purchase has been made, in order to build stronger customer data profiles and deliver upsell and cross-sell offers. They range from order/ship/confirm messages to social channel introductions, satisfaction surveys, review requests, and next purchase coupon remails.
“Customers want messages that make sense to them based on their relationship with the brand, an action they’ve taken or an important event, and if a retailer isn’t sending messages based on those activities, they’re missing key revenue opportunities,” said Jim Davidson, Bronto’s manager of marketing research. “For example, if a subscriber shows enough interest in your products to subscribe to your email program, they may just need an enticing offer to move them into the purchase path. This white paper provides specific examples of programs, including one from a client who has increased average order value by almost 20 percent.”