You probably worked very hard to build up a subscriber list of past and potential customers. It's time to fill in the gaps and increase your return on investment.
Increasing the value of your email subscribers
ABC Sports is a company that sells sporting goods on the Web. They’re having a hard time on Facebook and are trying to increase e-commerce revenue through email marketing. How can they calculate and increase the average value of their subscribers?
Combinations of a few base metrics can get ABC a long way. By multiplying their amount of subscribers by their open, click, and purchase rates, as well as their average cart, they can find out how much revenue each email address is generating on average per send. Running A/B tests on their campaigns can help them optimize these numbers and bring up their conversion rates and average cart. A great start.
From good to great
But what happens when a customer, Joe, who is interested in fly-fishing has to search through ABC’s emails to find fishing deals? Or, even worse, what happens if he receives an email exclusively about team sports gear? He could unsubscribe or stop reading ABC’s emails entirely – making his effective value 0. If ABC had more information about Joe and his fishing buddies, they could send him fly-fishing specific emails – that campaign’s metrics would probably be through the roof.
It's time to rethink optimization
The process of designing an email blast, generating a list and sending out an email can get repetitive, and often, the most important element of this process is ignored: the list itself. Having more information about your subscribers can help you optimize your marketing efforts, increase conversions and drive revenue. It’s time to start filling in the blanks and getting to know your subscribers for real.