March 9th, 2009
This month Experian released a new report entitled ‘Engaging online with the Empowered Consumer’ which looks at how effectively businesses are using their website and e-channels to market to their customers.
Essentially the report found that many retailer and e-commerce businesses are not doing everything they could to nurture and grow their customerbase.
Using the home shopping sector as an example, Experian’s analysis reveals the harsh reality of customer engagement:
- 45% of customers are single purchasers, with figures rising as high as 75% in some cases.
- 60-70% of ‘best’ customers have not purchased in the last 12 months, signifying that companies are taking one or two seasons to recognise that high value customers have lapsed.
- 30% of customers generate nearly 70% of revenues.
The moral of all this, is to make sure your valuable existing and previous customers don’t forget about you! How can this be achieved? Well, if you’ve built up a database of customers’ email addresses who have either opted in to receive information from yourself, or indeed previously used your services or bought from your e-commerce store, you can gently remind them of your wonderful products and services through well placed e-newsletters.
The way to keep your subscribers paying attention to your unashamed marketing is to offer incentives along with the pushing of products. Promo codes on e-newsletters for certain products shows the receiver it’s worth keeping on the mailing list.As an perhaps coming up to Mother’s Day, your e-newsletter could suggest suitable gifts for the number one woman in your life.