6 Ways to Increase Revenue from Email By Upselling and Cross‑Selling
By Mike O'Brien | May 1, 2019
Looking to increase revenue from email? Of course you are — and you’re not alone. Surveying 200 retailers, Sailthru found that 66% consider that to be their highest-priority metric. Why wouldn’t they? After all, email is by far the more reliable, lucrative digital marketing channel, producing an estimated 4300% ROI, according to the Data & Marketing Association. Upselling and cross-selling are two of the highest-impact ways you can achieve that.
Done well, cross-selling and upselling can establish retailers as one-stop shops for multiple categories. This creates additional positive impacts on repeat purchase rates and customer lifetime values.
These six brands are doing it right:
Capitalize on Confirmations Like Macy’s
Order confirmation emails have high open rates; people naturally want to know where their purchases are. These emails provide the perfect opportunity to cross-sell, planting the seed for the next purchase. This is especially true of customers who pick up their online orders in-store. Macy’s knew he was already going to stop by; not trying to upsell would be a missed opportunity.
…or Return Confirmations Like Nordstrom
Like shipping confirmations, returns provide ample opportunity for upselling and cross-selling. This customer returned a backpack, which tells Nordstrom that she’s likely still shopping around for one that suits her better. These product recommendations share simplistic styles and muted colors in common. One area where they differ is price; however, the average of all four backpacks is just $12 more than the original purchase.
Build an Outfit Like Adidas
Complete The Look was a big part of Adidas’ strong showing in Sailthru’s Retail Personalization Index. It also demonstrates the sportswear giant’s skill at upselling, which is on full display in this post-purchase email. With colorful, eye-catching rich media and casual language, Adidas simply the customer her know that her new items could create a complete look with a few other items.
Encourage Add-Ons Like Airbnb
If you’ve booked accommodations, Airbnb knows your budget, your preference for neighborhoods, and whether you’re traveling alone. Put those three things together and Airbnb is in a perfect position for upselling you on a local-led Airbnb Experience. The hospitality marketplace has been known to send these proactive triggered messages a few days before your trip when you may be last-minute planning and ready to be inspired.
Pick Up on Predilections Like LOFT
Cross-selling and upselling are both hallmarks of a good cart and browse abandonment strategy. If someone added items to her cart, or spent some time browsing them, there’s clearly an interest. In this case, she looked at enough items to give LOFT a sense of her personal style, which the retailer capitalized on. She liked the sweater and the petal sleeve top; she may like them more paired with one of these blazers in a similar color palette.
Leverage Sampling Like Dollar Shave Club
The promise of a freebie or a greater discount is tempting, which Dollar Shave Club clearly understands. The company’s Handsome Discount incentivizes members to add more items to their boxes. It’s an extra smart strategy once you consider that Dollar Shave Club’s recommendations are all highly-personalized based on his member profile and previous purchases.
A Marketer's Guide to Evaluating Personalization Technology
Personalization has never been more popular - or more peddled. With thousands of marketing technology vendors to choose from, marketers may be tempted to simply “add on” personalization to their ESP. But doing so could result in siloed data, half-baked personalization, and wasted money.
Recommendations to Revenue: 8 Algorithms to Drive Sales and Personalize the Customer Experience
By Admin Adminer