Email marketing has long been praised for its ability to keep in contact with customers, boost your brand, and drive traffic to your website, store or event. But many online retailers (or etailers) are rapidly discovering that eCoupons are the hidden gem of the industry. With ferocious competition for the consumer’s spending dollar, eCoupons let both small and large retailers harness the power of email marketing to directly drive increased purchases and sales from their customer base.
If you walk around any shopping mall you will see countless window signs touting “Big Sales”, “Inventory Clearance”, “Reduced Prices” and more. The behemoth retailer, Walmart, has had great success with their “price rollback” marketing campaign. All of this continually proves that in terms of the consumer psychology, people love any form of savings and any chance at a good deal. But, why should the announcements of sales or price savings be limited to the offline world, when the online economy is bursting with just as many stores?
Many online retailers have asked that exact question and come to the conclusion that it is absolutely silly to leave sound and cunning marketing strategy at the door as soon as you move into the online realm. If special promotions can drive foot-traffic, then they can surely drive internet traffic as well. Many online retailers have started using email marketing to bridge the gap so they can start running online promotions similar to those of even their largest competitor.
Since it is very easy to use and incredibly affordable, email marketing levels the playing field between the small and large online retailers. Needless to say an online company like Amazon has a marketing budget that vastly exceeds that of the smaller etailer. But, that doesn’t mean that the smaller retailer can’t run strategic promotions to rival those of their larger counterpart. Any small online retailer can execute a professionally designed campaign with just a few clicks of the mouse at a cost of less than a penny per person. There are no ridiculous restrictions or excessive lead times required, as the business owner is only limited by their strategic prowess.
And, everything is completely measurable. After all, if you can’t measure the success of something, then how can you know it was effective at all? Unlike traditional paper coupons that are near impossible to track, most good email programs will give you real-time reports on how your campaign is running. Imagine being able to see within seconds of sending your email, how many people have opened it or clicked on a link to redeem your coupon? With this information at your fingertips, you can learn from it and improve upon future campaigns. Maybe some eCoupons work better than other or maybe sending your promotion at a certain time of the day produces better results (most email marketing solutions will let you choose the exact date and time to launch your email). One thing is for sure, in a day and age where knowledge is power, knowing what eCoupons produce the greatest ROI will let you maximize each promotional dollar you spend.
With more and more businesses beginning to send out eCoupons and online promotions each day, it’s increasingly important for all online retailers to begin building their customer email databases so that they don’t fall too far behind. The sooner you employ email marketing as part of your marketing mix, the sooner you will be able to level the playing field and see how eCoupons can benefit your business.
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