This is a guest blog post from Justuno, the conversion optimization platform.
Congratulations! If you’re reading this article, you’ve survived the grueling holiday season as an online retailer. Now it’s on to the new year where we can take what we’ve learned and build on it for an even more lucrative year!
The new year is a blank canvas and with every blank canvas, it’s difficult to know where to start. When in doubt, start with how you can drive new sales and increase revenue from repeat customers. This post features 4 key post-holiday marketing tactics that will help you increase sales from your current leads and customers!
Target and Engage Returning Shoppers
While acquiring a new customer is awesome, it can take quite a few resources to make that happen. To start the new year off, work with what you currently have and look to drive sales from current customers. In fact, 41% of an ecommerce store’s revenue comes from only 8% of the visitors. This is a strong indication that your return and repeat customers are likely to pay your more over the long haul.
Identify and segment these repeat customers so you can then engage them throughout their website visit. BirkSun targets current customers with an attractive popup offer that speaks directly to shoppers based on previous on-site actions and the time of the year. Since this segment has already given their email, there is no action required to receive the promo code. This makes it easy for any returning shopper to complete checkout and receive their discount.
Mirror Email Messaging on Your Site
As mentioned in the last section, email marketing is a major success factor in customer retention and repeat purchases. Lifecycle email campaigns can be personalized on purchase frequency, lifecycle stage, and order history, which helps when it comes to driving past customers back to your site for a second or third purchase. To be more effective with your marketing campaigns, it only makes sense to carry the same marketing messages in your emails over to your actual website. This tactic creates a seamless and consistent experience for the shopper and allows for further marketing engagement on-site. Brooks applies the same email messaging to a banner that lives on the bottom of their website. Now when a shopper clicks through from an email, they receive website messaging and notifications that are consistent with the email.
Clear Out Excess Inventory with Attractive Sales
At the start of the new year, one of the biggest challenges in online retail is often dealing with excess inventory. This is a harsh reality for almost all retailers, and it may be impacting your business more than you think. Holding on to old and excess inventory is costing you money each day. Whether it’s the opportunity cost of not being able to bring in fresh inventory or the cost to rent shelf or warehouse space, you’re paying for that inventory in some way, shape, or form. This applies for drop shipping ecommerce businesses as well. Get off to a fresh start by actively looking to sell SKU’s with old or excess inventory. This not only can help your business, but also aligns with shopper habits who are always looking for great deals. Here are a few marketing ideas to help with clearing out excess inventory:
- Create a ‘Sale’ Section
- Host a Flash Sale or Clearance Sale
- Bundle Fast Moving Products with Slow Moving Products
- Bundle Multiple Units of the Same Product
- Bundle Complementary Products
For some additional promotional ideas, check out 14 Ways to Convert Slow-Moving and Excess Inventory into Cash.
Keep Building your Email List
As you focus on customer retention in the new year, you still want to continue to build your email list in order to add new, high-value customers. By enrolling new leads and customers to your lifecycle marketing campaigns now, you can add more customers into the repeat purchaser segment in the future. The majority of your website traffic leaves without converting into a lead or sale so you must actively engage website visitors to opt in to your marketing emails.
In order to deliver personalized lifecycle emails to a specific shopper, you must first get that shopper’s email address. The simplest and most effective way to capture an email is to engage your daily visitors with an email popup promotion. The simple nature of asking for an email combined with the added incentive of a discount, free shipping, or other added value can rapidly increase the number of emails captured.
An effective email popup has a branded design, strong call-to-action and a valuable incentive. Of course there are other success factors, but keep these in mind when creating your popup and you should see solid results. Here’s an example of a fullscreen popup promotion on Sivana Spirit which hits on those three success factors.
Avoid the Post-Holiday Sales Slump!
With so much on your plate in Q1, sales can sometimes take the biggest hit during the start of the year. It’s our job to make sure that this doesn’t happen to you. These four marketing tactics will help you get started on the track to bigger sales numbers in 2018. Luckily, we’re providing even more insight in an upcoming webinar titled Power Through the Post-Holiday Slump on January 23rd.