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Keep it simple: engage and understand your subscribers simultaneously
6 min read
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by Alena Parfisenko
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Each day, a staggering amount of emails are delivered to the inboxes of your subscribers. With so much competition for attention, it is inevitable that a portion of your subscriber list may lose interest in your email marketing campaigns and stop engaging with them. It may not seem like a big concern, but when a bigger proportion of your list ceases to engage, the risk of harming your sender reputation and email deliverability rates increases.
Have you been in this scenario?
Not too long ago, a few of our close partners told us their common problems that they usually stumble across when trying to re-engage their past subscribers.
So imagine if you already have a significant email base of your subscribers. Around 60% of them do not convert successfully. The second you try to approach them you come across two major things:
- You don’t know how to segment them, as you lack more user information on them.
- You don’t know how much of a discount you need to offer.
And with that being said, you clearly lack a certain level of understanding of where your next step should be. Unless you begin to think outside of the box and analyze your audience.
How do you pick a price point that is still profitable?
A discount risks reducing your profit margin too much to make the offer worthwhile. To avoid this, it is essential to consider a number of crucial elements. Your accountant can assist you with this, or you can locate templates online:
- Calculate your break-even point by dividing your entire fixed costs (such as rent and labor) by your contribution margin. Your break-even point occurs when your revenue equals your fixed and variable costs (revenue generated per sale after subtracting variable costs such as commissions)
- Calculating break-even units involves dividing total fixed costs by the difference between the price per unit and variable cost per unit.
- Determine the variable costs % per unit before calculating the break-even price by dividing total variable costs by the sum of total variable and fixed costs. Then, divide total fixed costs by total units sold to find total fixed costs per unit. Divide 1 by the product of the quantity of 1 minus the percentage of total variable costs per unit multiplied by the quantity of total fixed costs per unit.
These values indicate the number of sales required at a certain price to remain profitable. These numbers are dependent on expenses and profit margins, therefore they can be improved by reducing expenses or increasing sales. For example:
- Utilize low-cost strategies, such as promoting to social followers or email lists, to limit your marketing expenditure.
- Limit your offer to segmented groups, such as first-time purchasers or inactive clients, to minimize the amount of money you lose on discounted purchases.
- Bundling discounted items with full-priced items or providing full-priced upsells can increase revenue per discounted transaction.
- Increase sales activity by comparing the number of sales required to reach a revenue goal at your current margins to the number of sales required at your discounted margin; increase marketing activity proportionally.
After crunching the statistics for various sales goals, you may discover that your discount offer could generate substantially more cash if you improved your marketing efforts by increasing advertising and promotions. In this instance, you may want to ask for a company loan or line of credit to fund your advertising expenses so that you may reach your objectives.
How to understand your consumer much better?
The main message
To encourage respondents to complete your survey, convey your gratitude for their involvement. Consider including the following messaging:
- Stress that you appreciate their thoughts, and explain how their feedback can directly affect your product roadmap or services, the content you provide to them, etc. Be as precise as feasible in order for them to comprehend how you will utilize their experience and ideas.
- Respect their time by providing an estimate of how long it will take to finish your survey, such as "Please take 5 minutes to complete our survey." Ask a colleague who has not seen your survey to time themselves to complete it. Also, be sure to express your gratitude for the time they're taking out of their busy schedule to assist you.
- Make your questionnaire as brief as possible. 45% of survey respondents are willing to spend up to five minutes completing a survey, whereas only 35% are willing to spend up to ten minutes.
Provide incentives
You already have your subscribers' email addresses, so sending your survey by email is the simplest way to ensure it reaches them. But what if they disregard the survey you email them?
- One thing that can truly catch their curiosity is if they "run into" you everywhere online. Consider distributing your survey to your social media networks or incorporating it into your marketing sites. Even SMS surveys are possible. When people view your survey a second time, they will surely remember it. The third time it is brought to their attention, they may be so intrigued that they take the survey only to find out what you're up to.
- Avoid spamming by mapping your survey replies to your marketing automation software, then excluding survey respondents from future communications.
Keep surveys relevant
Put yourself in their shoes: Would you complete a survey that did not allow you to indicate "Does not apply" or skip irrelevant questions? Most likely not.
For instance, if you don't drink coffee, answering questions about your coffee consumption would be a waste of your time, as well as inaccurate and unhelpful. Instead, utilize the following techniques to maintain the relevancy of your surveys:
- Allow them an exit. Lack of sufficient information about your prospects? Add a screening question to direct them in the proper direction. Here's one instance:
- How frequently do you consume coffee (hot or iced)?
- Several times per day Once per day
- A couple of times each week, each month, and each year.
If respondents select "Never or almost never," you can thank them for their time and take them directly to the survey's conclusion. Thus, you will not receive a multitude of perspectives on coffee from individuals who do not consume it.
Send them in the proper direction. However, suppose you wish to discover why these individuals do not consume coffee. Perhaps they dislike the flavor or find it too pricey. If you are a corporation seeking to advertise a new beer to a particular group, you can use survey logic to direct respondents who select "Never or almost never" to a set of questions that are specific to their response choice.
Good survey platforms will allow you to construct survey logic rules and various entry points with relative ease.
Good survey platforms will allow you to construct survey logic rules and various entry points with relative ease.
Offer surveys in multiple channels
You already have your subscribers' email addresses, so sending your survey by email is the simplest way to ensure it reaches them. But what if they disregard the survey you email them?
One thing that can truly catch their curiosity is if they "run into" you everywhere online. Consider distributing your survey to your social media networks or incorporating it into your marketing sites. Even SMS surveys are possible. When people view your survey a second time, they will surely remember it. The third time it is brought to their attention, they may be so intrigued that they take the survey only to find out what you're up to.
Avoid spamming by mapping your survey replies to your marketing automation software, then excluding survey respondents from future communications.
In conclusion
Of course, in addition to learning more about your target audience, you’ll be in a better position to identify and analyze data trends when you receive more responses. If only 12 people take your survey, you’d be hard pressed to come up with accurate conclusions that generalize your target market’s habits and behaviors.
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