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4 Strategies to Take B2B Email Marketing to the Next Level

4 Strategies to Take B2B Email Marketing to the Next Level

4 strategies to take B2B ecommerce email marketing to the next level

A well curated eCommerce email list can provide your online store with recurring revenue and provide you with a strong competitive advantage. Realizing that value, however, is highly dependent on how you use it, and a variety of factors that can make or break your bottom line. In 2016, the average open rate across industries was 25% of recipients. If you can reach that number or improve upon it, you’ll see incredible benefits. But how can you get there?

Email marketers employ many useful strategies, such as email verifier tools, list segmentation, performance tracking, and critical CX details Redstage covered in last week’s webinar with dotmailer (video). However, there are four specific types of eCommerce emails that can lead to high conversion rates and drive repeat customers. Implementing each of these is a low-cost investment that, when done correctly, can lead to an extremely high return. 

1. Ecommerce Email Up-Selling & Cross-Selling

These types of emails are among the most lucrative in the world of eCommerce email marketing. This becomes clear when you compare the average 25% open rate to the 61.7% seen in post-purchase emails. These can be sent out in a variety of ways, but the following are two of the most common:

  • Follow-up with receipt: include a discount or exclusive offer with post-order receipt or other custom transactional emails, incentivizing repeat purchases and customer referrals.
  • Follow-up with similar items: when a customer purchases an item in a given category or collection, you can send a follow-up email promoting related items (think of Amazon’s “frequently bought together” up-sell strategy).

2. Loyalty Programming

Building a relationship with your customer is extremely important to the long-term value of that customer, and email marketing is a great way to overcome this issue. Here are a few ideas to get you started:

  • “We’ve Missed You”: If a customer hasn’t returned to your store in a while, send them an email that includes a promo code and an easy way to opt out of future communications.
  • Personalized Life Events: Many businesses collect information about customers in order to provide them with personalized service. Consider sending a birthday email, along with a discount eligible for that week or month.
  • Restocking: If your business sells replenishables (like air filters, motor oil, and engine belts), launching automated emails at certain intervals can help keep your brand top of mind when supplies need to be replenished. How long does it take your average customer to go through a gallon of cleaning liquid?

3. Incentives and Promotions

Letting your customers know about a sale or limited-time offer is a tried and true method for driving traffic. Whether you’re offering holiday deals, announcing a new product line, or sharing an exclusive offer, customers are much more likely to be interested if they’re getting a unique product or price. These kinds of emails become critical for B2B buyers, who are always looking for easier ways to find the best product and price. Promotional campaigns like these are often extremely successful. In fact, according to Coteries Lab, “44% of people who received targeted emails acknowledged buying at least one item because of promotional message.” Emails advertising a discounted price have a conversion rate of over 1%, and a 9.68% click-to-conversion rate

4. Win-Back Campaigns for Abandoned Carts

Customers will often be interested in an item, add it to their cart, and then fail to complete the purchase. This lost revenue can be reclaimed simply by reaching out through abandoned cart emails. Something as simple as “Hey, you forgot!” or “Check out now for 5% off your entire order!” can help turn abandoned carts into solid sales. As you might expect, these are among the most efficient emails in terms of conversion, especially when combined with discounts.

While email marketing platforms can help you target any segment of your customer base, these are some of the most common ways marketers use email to reach out. Each option offers a great starting point for strong B2B eCommerce email marketing campaigns. These four methods can have a quick, significant effect on your overall sales. Having trouble with your email marketing? Need a recommendation on what platform is best for you? Ask the experts at Redstage!

 

About Our Guest Author:


Headshot_Rae_Steinbach

Rae is a graduate of Tufts University with a combined International Relations and Chinese degree. After spending time living and working abroad in China, she returned to NYC to pursue her career and continue curating quality content. Rae is passionate about travel, food, and writing, of course.

Here’s How Customer Service Will Kill Brick and Mortar Retail

Here’s How Customer Service Will Kill Brick and Mortar Retail

Customer Service

eCommerce baked-in customer service as a standard. Perhaps early innovators recognized its importance as a differentiator from in-store retail, or maybe it came naturally. Regardless, many traditional retail giants chose to ignore it altogether. In the stories that follow, we’ll explore vast disparities in customer service driving traditional retailers toward bankruptcy while simultaneously skyrocketing eCommerce sales.

Good CX Demands Good Customer Service

Major retailers now seemingly compete with airlines, telecoms and power companies for the worst customer service. The key difference, however, is the range of alternatives. Most regions of the U.S. don’t get to pick between more than two horribly aggravating cable providers, while anyone in the world can choose Amazon over local retailer. As a result, the need for retailers to optimize their customer experiences through customer service is paramount. However, those who only recently realized this may be too late.

Jura Live! A Customer Story:

Jura LIVE! allows customers shopping online to make live video appointments at their convenience, from the comfort of their own home. Customers can see the products in action in real time and leverage the knowledge of a sales rep. to help them make a purchasing decision. For a luxury product such as a super automatic coffee & espresso machine, this adds a significant amount of convenience to the customer’s experience while also dazzling them with high-end technology. These types of high-touch online experiences help the sites that have them dominate those without. Unfortunately, most brick & mortar stores don’t offer these experiences because they refuse to adapt.”

-Dave Gardner, Sr. Account Executive & Team Lead at Redstage

How Retail Heros Became CX Villains

Sears, JC Penney, and Toys “R” Us are known for major missteps that downgraded their in-store experiences and alienated customers. Sears simply stopped investing in its stores. Years ago, company leadership decided to introduce a poorly-managed customer loyalty program that caused much more harm than good. The “Shop Your Way” program caused extended checkout times; both for customers waiting in line behind someone signing up for rewards AND for loyalty members who facing constant discrepancies in “deal” prices at the checkout.

The Fall From Grace

Here's How Customer Service Will Kill Retail

When sales declined, products began to downgrade, the stores themselves fell to disarray, and customers naturally opted for other retailers like Macy’s and Home Depot. As a poorly planned remedy to decreasing sales, Sears chose to cut in-store staff in half across their locations, propelling worsening structural conditions that led to closures all over the U.S. To this day, the company continues to pump products into stores that no one will buy, without the necessary human capital to even unpack them.

A Sears Auto Story

Recenty, Redstage’s CEO Adam Morris had his own customer service blunder at Sears. He entered Sears Auto looking for a particular item, couldn’t find what he wanted, and exited the store only to discover his car had been towed. According to Morris, the towing company contracted by Sears was watching the security cameras while he was inside. Because he parked in a space for “Sears Auto Customers Only,” and hadn’t made a purchase, he wasn’t considered a customer, which allegedly gave the towing company license to tow his car.

In an attempt to get assistance from Sears, Morris spent hours on the phone with a “rude or unhelpful” customer service representatives. At the end of the ordeal, one rep told Morris to file a police report if he felt he was wronged. He had to pay to get his car back — more than the cost of the item he initially intended to buy.

Think he’ll be heading back to Sears anytime soon?

Alienating Your Audience

Here’s How Customer Service Will Kill Retail
JC Penney’s downfall came when it decided to switch to “low everyday prices” rather than focusing on their weekly coupon deals — something that created buzz from local customers and drove them to stores. At the same time, JC Penney switched focus from inexpensive products to more upscale merchandise, further alienating their customer base. As a result, shoppers decided to shop elsewhere. For a company founded on a middle class audience and low prices, this change was a signal for lifetime shoppers to exit, with seemingly no plan in place for attracting a higher-paying target audience.


Retail Giants’ Company Value Shift (2006 – 2018)

 
2006
2016
2018
06 – ’18
Company
Value ($B)
Value ($B)
Value ($B)
% Change
Sears
$14.3
$0.9
$0.3
-98%
JCPenney
$18.1
$1.7
$1.2
-94%
Source: Peter Diamandis, “The Future of Retail


Know Your Customers (or else)

Toys “R” Us CEO David Brandon mentioned in a recent SEC filing that the toy giant’s inability to invest in customer experiences in-store accelerated the death of the company. Last fall Brandon said the company’s mounting debt caused them to lose their competitive edge “on various fronts, including with regard to general upkeep and the condition of our stores.” In addition to the “general upkeep” Brandon mentions, if you’ve walked into a Toys “R” Us outside of the holidays, you’d understand. The massive store would appear as a moonscape, cold and nearly lifeless, save one or two employees and some barely audible music. Is that the environment that makes kids and parents think of fun?

This blog post does an excellent job of describing how Toys “R” Us could have boosted their customer experience through the roof, and honestly, it was probably within reach. “Special store events could include Nerf gun battles and dress up contests. Store representatives could excel at providing toy recommendations for particular age groups and interests (ever wondered, “What the heck do a get for my 8-year-old niece for Christmas?”).” These are the customer service based experiences consumers expect in our high-touch world. With eCommerce personalizing every customer interaction, it’s no wonder retail’s value continues to diminish.

Here’s Why Retail Will Die

As we can interpret from the examples above, traditional retail’s refusal to adapt (or perhaps retail’s lack of understanding about eCommerce) will be the industry’s ultimate downfall. One-time giants like Sears are ignoring systemic issues that directly impact in-store and over-the-phone customer experiences. Customer-minded marketing, store upkeep, and customer service — once staples of the retail experience — are being outsourced, downgraded or eliminated.

How To Bring The Magic Back

Here’s How Customer Service Will Kill Retail
In a last-ditch effort to get customer engagement, Toys “R” Us launched an AR app called “PlayChaser” to create gamified in-store experiences. There were a few issues with this, like parents who didn’t want their kids running around a massive store with their tablet — and also the fact that the company had already declared bankruptcy — but the intent was there. Toys “R” Us was ready to repent for decades of customer boredom, but it was too-little-too-late.

Retailers seeking a strong, successful revival need three things:

  1. A unified strategy that blends digital and physical experiences while thinking realistically about in-store capabilities (like employees, upkeep, and tech).
  2. A highly-tailored online experience that combines hardcore marketing tactics with artificial intelligence to boost customer retention & sales (watch video).
  3. Unrelenting customer service that makes everything easier for the customer (yes, we mean everything). Understand your customers and meet their demands.

Final Thoughts

Circuit City recently announced an ambitious plan to resurrect the company with an eCommerce focus and an impressively cool omnichannel strategy. The digital retailer relaunched February 15th and is moving forward rapidly. If Circuit City can make a comeback, maybe it’s time for other retailers to get with the program.