Ecommerce Playbook: Numbers, Struggles & Growth Email: Not Just a Retention Play
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Feb 6, 2024 Discussion on relaunching email marketing service at Common Thread Collective, maximizing revenue through email campaigns, expanding email marketing beyond retention, strategic shift in approaching email and SMS for revenue, utilizing email for new customer acquisition, avoiding hidden costs in email marketing, and actionable advice for maximizing revenue through email campaigns.
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Align Email Strategy To Financial Goals
- Email and SMS should be framed by the business's financial objectives, not as standalone retention tools.
- Decide channel strategy only after modeling required return and role in new vs existing customer revenue.
Plan Sends With Revenue Expectations
- Plan every email with an expected revenue value and track daily performance against that forecast.
- Use those expectations to decide whether to increase sends or change tactics if you're ahead or behind.
Bamboo Earth Uses Contingency Sales
- Bamboo Earth models new customer acquisition and existing customer revenue then designs email sends to meet monthly targets.
- The team uses an exclusive contingency sale to existing customers only if new acquisition lags.