Email marketing has long been a cornerstone of any successful eCommerce operation. And, in much the same way, where email campaign segmentation and hyper-personalization were once considered optional, that is no longer the case. Together, they have redefined the rules for building automation, dramatically increasing the relevancy of automated campaigns to online shoppers. With this in mind, you would do well to include both types of activities in your email marketing playbook, lest you lose out on customers and leave money on the table.
To drive home the point, consider the following: DMA (Data & Marketing Association) study found that segmented emails can generate up to 58% of all email revenues, while personalized emails can result in 6 times higher transaction rates when compared to non-personalized emails.
Now, imagine if you could leapfrog the issues faced by many of your peers. And combine the power of these two proven email marketing devices to hit your eCommerce business’s sales targets. For instance, what if you could use hyper-personalization to better segment your mailing list? Well, dream no more. You can easily capture the benefits of segmentation and hyper-personalization by using a top-quality email marketing platform and by establishing 5 strategic segments right at the start.
One of the best ways to leverage this in-depth customer data is to use it to construct pre-built segments, where the data is used to formulate criteria for segmenting your customers into more precise groups, that you can engage with hyper-personalized marketing.
Cash in on the higher profitability of repeat sales by dynamically segmenting. First-time or recent customers and providing them with a more fitting customer journey.
Aside from the fact that retaining customers is cheaper than acquiring new ones, a 5% increase in retention rates can grow profits by 25% to as much as 95%.
You can take advantage of this opportunity to establish a long-term relationship. With new customers by using dynamic segmentation. Dynamic segmentation allows you to use real-time data to automatically segment customers that meet some pre-determined criteria.
Use specialized re-engagement emails based on specific client data points. To bring lapsed clients back into your circle of customers. Some customers can be hard to please. One day, they might show interest in your products, even make a purchase. And the next day, they could turn cold.
Once you have segmented lapsed customers, you can draw them back into your sales funnel by way of re-engagement emails. Based on what you already know about them, including any hyper-personalization data you have on file, you can.
In short, for those customers who are enamored with your products and service. Offer them more, for instance through cross and up-selling.
Fact: loyal customers are more likely to buy other products from you. This is evidenced in a study by Bain & Company, that found that almost 70% of Gap Online customers would consider buying furniture from the Gap, while, 63% of online grocery shoppers would buy toiletries and OTC drugs from their online grocers.
A pre-built segment for loyal customers will, therefore, simplify your upselling and cross-selling efforts. Use your avid fans’ purchase histories to send them relevant recommendations that could prompt them to place additional orders.
Having a loyal customer segment also provides a fantastic opportunity for you to turn your enthusiasts into brand advocates. Offer them exclusive deals, special discounts or even “cash-back” for each referral they point to your business.