Have you invested a considerable amount of resources generating your current client base? Is your database full of inactive users doing nothing but taking up bandwidth? Your online business may be able to generate more revenue by launching strategic remarketing campaigns.
How can Remarketing help my Business?
Strategic remarketing can help you not only revive a dormant database, but may also enable you to increase your average customer lifetime value and incentivize users to purchase consistently. In fact, according to a recent report prepared by SeeWhy, 48% of users who abandoned shopping carts returned back to the site and purchased within 28 days after being remarketed via email campaigns. Your business can implement remarketing within your overall online advertising strategy by leveraging the power of email marketing, social media promotion, membership programs, and dynamic pricing. While these strategies prove most effective for e-commerce businesses, the pertinent ideas can be leveraged for any type of business with an online database of users and leads.
Tactical email remarketing can prove to be efficacious in reigniting your database and driving targeted traffic back to your website. An integral aspect of any email marketing campaign is segmenting your database based on their purchasing history and behaviour so that you can deliver more effective and relevant marketing messages.
Create a buzz by launching viral campaigns and community-building activities, and keep your followers invested in your brand’s message. Social media channels such as Facebook and Twitter are the ideal platforms to broadcast new promotions built to boost sales from new and existing members. Social referral programs can also strengthen your remarketing initiatives by encouraging existing members to share what they purchased with their respective networks in exchange for monetary credits and future discounts.
Memberships and Loyalty Programs
Memberships and loyalty rewards programs are highly effective in strengthening brand loyalty and increasing the average customer lifetime value of your database. VIP/membership programs that offer an incentive as simple as free shipping can prove to be a strong selling point and allow you to build up a valuable database of “premium” members. Motivating users to accumulate loyalty points and credits can also incentivize the members in your database to increase purchasing frequency.
Strategic pricing can give you the opportunity push a myriad of offers to both purchasing members and inactive users. Offering limited time discounts, free shipping promotions, and bundled pricing for multiple products can provide you with a temporary boost in sales, and encourage new users to transact on your site, allowing you to gradually increase your revenue stream.