An email campaign to your low volume customers can produce spectacular results!
Most marketing programs follow the 80/20 rule. Eighty percent of your business comes from twenty percent of your customers, so your main effort is to encourage the twenty percent.
This means the low volume customers often miss out on the incentive and reward programs you run.
It’s easy to think these low volume customers are not worth the effort and just pass them by, year after year.
Recently 318 ran an email campaign to the low volume end of one of our client’s customer list. In a very competitive, flat market the results were extremely good.
12 weeks into a 20 week program sales were into the six figures and costs were running at around 3% of sales (This included the reward vouchers for every sale).
The real value was that many of these customers had almost no sales in the previous 12 months. Some had never actually bought this type of equipment ever before!
The key points of this type of campaign are:
It’s much easier to motivate an existing customer, however small, than it is to acquire a completely new customer. It’s not just easier it’s a lot cheaper too!
Email can be a very cost effective medium to small and medium businesses. Many companies think email will only work for big business or consumers. Certainly, many small businesses are very email savvy. We see this again and again with things like invitations to training sessions and open days.
Improving the relationship with your low volume customers is worth budgeting for every year.
A well designed B2B email campaign can produce exceptional sales outcomes.
Email marketing allows you to get a good picture of which of your customers are most responsive to the campaign by using tracking software in conjunction with an appropriate website. This information can be then fed back through the sales reps and customer service staff.
Not all low volume customers are very small.
Some are quite large organisations who just don’t spend much with you – yet!