3 Ways to Increase Profits in Quarter 4
1. Pinpoint Where Abandonment is Happening
When trying to build your profits at the end of the year you know abandonment is an enormous problem. While hundreds of articles talk about cart abandonment, this type of abandonment is only the tip of a very major problem with many companies today.
In truth, most companies have abandonment happening at every step of their customer life cycle. What’s more, the only way to effectively prevent client abandonment is to know where you are leaving money on the table. Focusing exclusively on abandonment without looking at your process is like trying to solve a puzzle without all the pieces.
Let’s quickly review the five stages of the customer journey.
2. Make Emails As Dynamic as Possible
Email remains one of the most consistently profitable optimization methods, with an ROI that puts many other strategies to shame. While I’m sure you already have an email strategy of some kind, many sites limit themselves by sending static, largely generic remarketing emails.
Cookie-cutter messaging isn’t just bad because it’s impersonal – it rarely yields the results that could be achieved with the simple addition of dynamic personalization. Let’s take a look at a couple of types of emails that are ripe for a revamp.
Post-Abandonment Remarketing Emails
We’ve all have gotten one of those emails that feels like it’s written by a robot. They often have subject lines like “Oops – did you forget something?” – and proceed blandly from there.
Fortunately, all we need to do is add a little spice. First and foremost, you should use the customer’s name wherever possible. If you don’t have their name, it’s okay, just be sure to start the email as a person would, with a “Hello there” or “Hey” – whatever works within your brand’s vernacular.
Next, try incorporating as much dynamic content as possible. If the user created a cart, recreate it visually within the context of the email. Online shoppers create carts all the time, and they may not remember exactly what they were looking at.
There’s no need to fret if the user didn’t create a cart. This is your chance to show your stuff – literally. Send them personalized product recommendations that will reignite their interest. Try including several sets of recommendations – incorporate varying price points and categories. The key here is to cast a wide net while still making the recommendations as personal as possible.
If a user has previously purchased from you, you’ve already got a leg up. Converting returning clients is easier and more cost-effective than converting new clients.
Sometimes, you can even sell them something they need as a result of past purchases. A classic example of this is selling a new water filter to someone who previously bought a filtration system. However, the usefulness of Lifecycle Emails extends far beyond refill reminders.
3. Say “Yes” to SMS
SMS marketing has come a long way. This medium has gone from an occasional means of communication to an omnipresent force. SMS is an ideal complement to a fully-fleshed out email marketing strategy because both offer distinct advantages.
Where email offers space and regularity, SMS offers speed and truly incredible open rates. In a season where spur-of-the-moment purchases and limited-time offers are par for the course, a method of contact that ensures high open rates and fast response times becomes indispensable.
3 Days Before
Ready for the biggest deals of the year? Our Black Friday event starts in just 3 days. Look at what’s going on sale now! (Link to your ad)
Day Of The Sale
It’s here. And you won’t believe what we’ve got in store. Our most epic deals of the season are live now. (Link to the site)
Hi (name), still interested in (Insert product)? This deal ends in less than 24 hours, so get back to (site) before it’s gone! (Insert link)
12 Hours Before End of Sale
Just hours left in our huge Black Friday event. Get back to (site) now to score an incredible deal.
You’ll notice that this plan only includes 4 text messages for the week. That’s because SMS opt-outs are exponentially higher than email – which makes sense since users will receive an alert each time you text.
While you want to keep them engaged, keeping your list strong necessitates finding a balance between over and under-texting. By sending short, vibrant messages at key points in the event, you can keep your list strong and engagement high.