Show Me the Money: 10 ways to boost revenue
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Show Me the Money: 10 ways to boost revenue

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Kestrel Lemen, Marketing Strategist, will share the top 10 proven ways retailers can get the biggest return on their investment and increase revenue year-over-year.

Kestrel Lemen, Marketing Strategist, will share the top 10 proven ways retailers can get the biggest return on their investment and increase revenue year-over-year.

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  • The key to automated and lifecycle marketing is data.Walk through behavioral.Some of that is data you want to get from the recipient  - best to try to gather from beginning.AUDIENCE QUESTION: How many of you ask for more than name and email in your sign-up?  HOW MANY USE IT?If you don't capture during sign-up, conduct a manage preferences or “update your profile” campaign. Do this with a dedicated/solo email or repeatedly through secondary messages in your regular sends.Bribery helps: incentivize subscribers to share this data with coupons or contests.
  • Oops example
  • 3 important things to consider with abandonment messages:1)Timing: how long to wait to send? The longer = less effective. For daily deals this can be a great way of reminding people the deal is about to run out. 2)Incentives: to include or not? Incentives to return aren't always necessary if shoppers abandoned for technical reasons or they got interrupted. Don't train to wait for coupons...but maybe do reminder first & then coupon a bit later...Test on different incentives. A since of urgency could be all you need3) Consider whether to include products left in the cart or go more generic… setting up specific products can be a bit more technically heavy, but can yield higher results, generic is easier to set up, but you may be leaving money on the table.
  • First impression! Make it the best!Drive conversionsGather customer dataGet yourself recognized If an attractive individual gave you their number, would you wait a month to contact them? Certainly not, because they may no longer be interested by then. The same goes for new subscribers – you need to contact them right away once they’ve shown interest by sending a welcome message.AUDIENCE QUESTION: Who here has a welcome message that is sent after sign-up?PURPOSE OF WELCOME MESSAGE:1) Say thank you/confirm successful sign-up2) Invite into exclusive community3) Reiterate/set expectations - how often you'll be emailing and what4) Possibly offer whitelisting instructions to ensure inbox delivery5) Maybe give a prize (coupon to encourage a purchase)6) intro: social media/blogs/products – at a minimum: a START SHOPPING linkThe purpose is to engage, get subscriber to interact right away. Also presents major revenue potential. CLIENT RESULT: $35k in one month from their welcome coupon. Can take this notion further with a Welcome Series - really leads new subscribers by the hand & treats them differently...get them intrigued, brand loyal early on. You can suppress these folks from your regular mailings and just send the series (called HONEYMOON SEGMENTATION) – essentially creating a very focused experience for new subscribers.IDEAS: intro to social media presences, education on the brand/brand values/behind the scenes, informational content that can help you sell
  • If an attractive individual gave you their number, would you wait a month to contact them? Certainly not, because they may no longer be interested by then. The same goes for new subscribers – you need to contact them right away once they’ve shown interest by sending a welcome message.AUDIENCE QUESTION: Who here has a welcome message that is sent after sign-up?PURPOSE OF WELCOME MESSAGE:1) Say thank you/confirm successful sign-up2) Invite into exclusive community3) Reiterate/set expectations - how often you'll be emailing and what4) Possibly offer whitelisting instructions to ensure inbox delivery5) Maybe give a prize (coupon to encourage a purchase)6) intro: social media/blogs/products – at a minimum: a START SHOPPING linkThe purpose is to engage, get subscriber to interact right away. Also presents major revenue potential. CLIENT RESULT: $35k in one month from their welcome coupon. Can take this notion further with a Welcome Series - really leads new subscribers by the hand & treats them differently...get them intrigued, brand loyal early on. You can suppress these folks from your regular mailings and just send the series (called HONEYMOON SEGMENTATION) – essentially creating a very focused experience for new subscribers.IDEAS: intro to social media presences, education on the brand/brand values/behind the scenes, informational content that can help you sell

Show Me the Money: 10 ways to boost revenue Show Me the Money: 10 ways to boost revenue Presentation Transcript

  • Show Me the Money:10 ways to boostrevenue
  • Todays Presentation:I want to talk about not only messages that havegreat conversion rates, but also about best practicesand practical steps you can take away today toensure you aren’t LEAVEING money on the table
  • Crawl, Walk, RunThere is always a place to start…
  • #10 Season Specific Sales What can it get me? Bronto Online Retailer customers saw… 264% increase in revenue with optimized holiday messaging and November accounted for 31% of the total yearly revenue
  • Thought throughcampaign
  • #2 One Day/Flash Sales What can it get me? Bronto Online Retailer customers saw… One 5 hour sale made up 70% of total revenue for the month of October
  • Since ofurgency
  • #3 Friends and Family DiscountWhat can it get me? Bronto Online Retailer customers saw…These messages made up 19% of the Monthlyrevenue of January
  • Clear CTA
  • Since ofurgency
  • #4 Lapsed Purchaser MessageWhat can it get me? Bronto Online Retailer customers saw…205% Increase in Open Rate78% Increase in Click Rate443% Increase in CTR117% Increase in Conversion Rate
  • Don’t leavemoney onthe table Lapsed Purchaser
  • Re-Order ReminderLapsed Purchaser
  • #5 Post Purchase bounce back What can it get me? Bronto Online Retailer customers saw… 211% Increase in Open Rate 45% Increase in Click Rate 343% Increase in CTR 138% Increase in Conversion Rate
  • Sense of urgency Bounce Back Coupon Ideas for thenext purchase
  • Personalized RelevantRecommendations
  • #6 Birthday CouponWhat can it get me? Bronto Online Retailer customers saw… An RPE that was ~4,000% times better then anaverage promotional messageAnother customer saw: 920% lift in conversion rateYet another customer saw: 30% Higher AOV then an average promotionalmessage
  • Original Reminder to non- convertersBirthday Coupon
  • Uses gender and firstname of the child Childs b-day Anniversary Utilizes an incentive
  • #7 RemailsWhat can it get me? Bronto Online Retailer customers saw…Paid for the Bronto account 3x overAnother client saw: 50% in additional revenue per messageAnother client saw: 14% in additional revenue over all for the year
  • Remails Screen shot of the app
  • #8 Shopping Basket AbandonmentWhat can it get me? Bronto Online Retailer customers saw…139% Increase in Open Rate110% Increase in Click Rate388% Increase in CTR778% Increase in Conversion Rate4,100% Increase in RPE
  • Reminder with NO incentive
  • Another exampleProduct specific with recommendations
  • #9 Transactional MessagesWhat can it get me? Bronto Online Retailer customers saw…Transactional messages make up 33% of overallrevenue for their email program.
  • Cross sells toother brands
  • Offers specific suggestions
  • #1 Welcome Message/SeriesWhat can it get me? Bronto Online Retailer customers saw…140K in 6 months since implementation with a571% lift in conversion rates over standard messages
  • Great enticing incentiveabove the fold
  • WelcomesAnd delivers coupon Addresses points of anxiety Eye candy andSuggestions
  • No incentive Setsexpectations
  • Since ofurgency Coupon Reminder Terry reminder message Gathercustomer data
  • Sample Welcome Series Message 1: Welcome Message Message 2: Top 10 Products Message 3: Manage your preferences Message 4: Social Media Introduction Message 5: Reminder of coupon
  • What was that again?10 Anniversary of first purchase9 One day/flash sale8 Friends and Family discount7 Lapsed Purchaser Series6 Post-Purchase Bounce Back5 Birthday Coupon4 Remails3 Shopping Cart Abandonment2 Order Confirmation1 Welcome Series