- Use an autoresponder for when customers leave their shopping carts
The very last minute of your customers shopping on your website is crucial for your sales conversion. But in reality, many customers can just leave their shopping cart at this exact last minute for various reasons. Well, although you may not know the real reason unless you ask, it’s still possible to send such customers a reminder e-mail that can help them finalise that decision to purchase a product or service on your website.
According to research findings reported by GetResponse, when a prospective customer leaves their shopping cart without completing a purchase, it signals their initial interest in your products, yet they didn’t complete the transaction for some reason. In response, an autoresponder is utilized to send a personalized email, specifically designed to remind them of the items left in their cart.
This feat can be easily achieved if you employ the genius of an autoresponder software. This kind of software can automatically detect when a customer has abandoned a shopping cart and can automatically send a reminder email. It is better to send such an e-mail sooner than later, so your ideal setting can range from within 1 hour after a shopping cart has been abandoned to 1 day.
- Down-sell to a cheaper product for a preview
Some surveys have revealed that quite a bit (actually, quite a lot) of customers abandon ship aka shopping cart at the very last minute because they see that at the end, the final price—or total cost after shipping is included—is too high. When that happens, it is not a discount that you should offer your potential customers, rather, you should down-sell.
Down-selling is when you offer an alternative product that is more affordable. This can help your new customers get a taste of what your brand has to offer at a cheaper price so that they will eventually turn into regular customers who purchase regular items at regular prices.
For this purpose, you may want to have items or services that are similar to your core selling but more economical in size. To offer a down-sell, you can also use an autoresponder to help you send the emails automatically.
- Cross-sell products that are related to a purchase
Now, cross-selling is a different approach. It is different from offering a cheaper product like down-sell. To make a cross-sell is to offer another product that can be a good match to the product a customer is already planning to buy (you’ll know this when the customer is on their way to checking out). So, on your check out page, or on the page that a customer can put their shopping into the cart, you need to have several cross-sell options.
As outlined in the research findings presented by Marketing Artfully, cross-selling represents a sales strategy in which you actively market and present related or complementary products to customers who have previously made a purchase. The primary objective is to recommend items that can improve or complement their initial buying experience.
For example, if you are selling a moisturiser, your cross-sell option can include a face mist. If you are selling fried chickens, your cross-sell can include French fries or a cup of coke. The key is, the items for a cross-sell need to be a good match for the item that’s already in the customer’s shopping cart. Cross-selling has been proven to be very effective at increasing revenue.
- Join affiliate programs and market other people’s products
Sometimes, on email newsletters, you don’t have to always market only your own products or services. Joining an affiliate program is a great way with which you can wonderfully increase revenue. Remember that you can provide all kinds of information on your email newsletters that are relevant to your line of business. What that means is you can also make an affiliation with other brands or producers that sell items or services that are relevant to your own business. Of course, try not to find an affiliate program that sells exactly the same thing you do.
On your email newsletters, you can include a bit of story as to why you think this product by another producer is a good complement to your own business. Then, you can tell your customers why it will also be good for them. When you manage to sell an affiliate product, you will receive commissions, so this strategy will be good to generate significant income if you have at least 2,500 subscribers.
- Offer a tripwire to new subscribers
New subscribers don’t yet know what kind of products or services you are offering, but they want to know, right? In such a case, you can do a tripwire offer to pique their interest even further. A tripwire is a product of yours that generally range between $5-50, depending on the type of business you are. The tripwire items need to be the cheapest things you have on the website.
As outlined in the article from Podia, a tripwire is a cost-effective, high-value offer or product that is introduced to new subscribers shortly after they sign up for your email list. This offer is strategically priced at a level that makes it an irresistible opportunity for the subscriber. The primary objective is to swiftly convert these new leads into paying customers.
The purpose of this tripwire offer is to get your customers a taste of you as a brand without them needing to spend a significant amount of money. Then, if they like the tripwire product they have purchased, eventually they will turn into regular customers who will buy your regular items that are at the core of your business.
Don’t forget to allow customers to leave feedbacks and reviews on the products that they have purchased, if you want to boost your brand’s credibility.
Hope you enjoy reading “5 Clever Ways To Make More Money From Your Email List” 🙂
SIMILAR QUESTION
How Much Can You Make With 1,000 Email Subscribers?
Introduction
Having a large email list is a prized asset for any business. But how much money can you make with a list of 1,000 subscribers? This paper will explore the potential income of a list of 1,000 email subscribers, considering factors such as the quality of the list, the type of emails sent, and the overall strategy of the email list.
Quality of the List
The first factor to consider when attempting to determine the potential income of a list of 1,000 email subscribers is the quality of the list. A list of 1,000 subscribers can be composed of many different types of people, ranging from highly engaged readers to those who may have signed up but never opened an email. A good list of 1,000 subscribers should include people who have an interest in what you offer and are likely to engage with your content.
Type of Emails Sent
The type of emails sent can also make a difference in the potential income of a list of 1,000 email subscribers. If the emails are promotional in nature, such as advertisements for products or services, the potential income from the list will be higher than if the emails are purely informational or educational.
Overall Strategy
The overall strategy of the email list is also important to consider when looking at potential income. Different strategies can be used to maximize the potential income of a list of 1,000 email subscribers. This can include segmenting the list into different audiences, creating automated email sequences, and optimizing the timing and frequency of emails sent.
Conclusion
The potential income of a list of 1,000 email subscribers is highly dependent on the quality of the list, the type of emails sent, and the overall strategy of the list. With the right strategy and quality content, a list of 1,000 email subscribers has the potential to generate significant income for a business.
