Increase Ecommerce Email Revenue
If your brand is generating 7 or 8 figures from sales, but sales from email are not contributing at least 30% of total revenue, you’re leaving money on the table.
I want to walk you through the three foundational strategies of high performing email marketing programs.
Our clients have utilized this program to drive at least 25-35% of total revenue from email efforts alone.
Take an audit of your ecommerce brand using these elements.
1. Automated Flows
While most ecommerce businesses implement flows, or automations (abandoned cart, browse abandonment, welcome sequences, etc.), they are generally either underutilized or under optimized.
Of the total revenue that you’re driving from email, do flows contribute to at least 50% of that revenue?
Flows should be your highest-performing revenue generated emails on a per email basis since the emails are being triggered by actions taken by the customer.
Which means they should have higher engagement and ultimately higher revenue.
Most brands require at least 5-8 flows to align with each stage of the customer journey.
- Do you have adequate flows for each stage of the customer journey?
- How are each of those 5-8 flows performing individually?
- Are you driving enough revenue from each one of these avenues?
2. Email Acquisition
Let’s say that your store has a high conversion rate of 5%.
This means that 95% of your total traffic, traffic that you’re probably gaining through a paid marketing effort, is not converting.
Your goal, then, is not to convert, but pre-acquire.
Studies show that customers require anywhere from 5-20 touchpoints with a brand before they are ready to buy.
Put them into an email list so you can nurture them to the point of a sale.
- Are you converting at least 5-10% of total site traffic into your email list?
- If not, that’s a clear sign that you need more points of acquisition, and test those offers to get more people onto your list.
This is where most people focus.
If you’re having an issue with your campaigns you are probably:
Not sending enough campaigns – the more campaigns you send, the more revenue you’re going to drive.
Sending too many campaigns with really poor segmentation and targeting – this results in really poor engagement and numbers that hurt your sender reputation score.
Make sure your open rates are at or above 20% to maintain your sender reputation score.
To increase engagement with your campaigns it’s important to be aggressive with the segmentations of your audience.
It feels counterintuitive but you can actually drive more revenue through email by sending less campaigns to the least engaged people on your list.
Sending the same amount of campaigns to someone at a different buying stage who is less engaged is not going to open any of them.
They are dead weight on your list.
When you decrease the number of campaigns sent to a less engaged individual they are much more likely to open, engage, and buy.
Increase the campaigns for your more engaged folks.
- What is your current open rate? Is it below 20%?
- If so, have you been aggressive with segmentation?
- Are you sending too many emails to your least engaged audience?
If you’re looking to increase the sales your brand is doing through email, have foundational flows in place, make sure you are acquiring 5-10% of total site traffic into your email list, and get strategic with your list segmentations for campaigns.
If you have questions about any of this, or your sales from email aren’t contributing at least 30% of your total revenue -> book a strategy call.