5 Email Types to Improve Customer Retention
The key objective for most businesses is attracting and converting new customers. This however, means they can sometimes over look an equally important goal: customer retention.
Customer retention has many benefits including:
- Better customer experience: Ensuring your customers are happy with your products/services after they buy is good practice especially if you want to achieve a positive online reputation.
- Improving marketing spend: Did you know it costs 5 times as much to attract a new customer than to keep an existing one?
- Increasing customer lifetime value: having a good customer retention strategy in place means you have great opportunity to cross-sell and up-sell your other products/services.
Leading marketers say email marketing is still one of the most effective platforms for customer retention.
Here are 5 email types to help nurture your customers and improve retention:
Welcome Emails It’s good practice to acknowledge and thank someone for signing up to your newsletter or subscribing to a service. The welcome email is a good way to confirm what they signed up for and to explain more about other products and services.
Friendly Reminders These emails can either be for e-commerce stores sending out a friendly reminder to shoppers if they abandon a shopping cart, or B2B businesses can send friendly reminders to cross-sell or up-sell products or services.
Rewards and Exclusive Offers Reward customer loyalty by offering special promotions or discounts this can help maintain customer engagement and ensuring they continue to invest in your products or services.
Review or Feedback Requests Requesting customers feedback is a great way to show you value their opinion and gives them opportunity to provide constructive feedback which in turn helps you improve the customer experience.
Re-Engagement Emails The sole purpose of these emails is to attract back leads or customers where engagement has slowed down or stopped. To make re-engagement emails more effective it can help to offer some kind of incentive, such as 10% discount for a limited time.
There are many factors that affect customer retention. These email types can be a good foundation to begin with.
Marketing Automation platforms are the most effective way to manage, execute and track customer behaviour and retention by using auto responder email and drip email campaigns.
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