What is the advertising channel that is common across each segment?
Email marketing is, in my opinion, the least understood of the advertising channels I work with. This happens, quite honestly, because the metrics associated with email marketing success (opens / clicks / conversions) are not aligned with the metrics that really matter (demand, profit).
For this business, there are common characteristics for email buyers.
- More likely to browse than to buy (9.6 to 1, 6.5 to 1, and 5.3 to 1 visit/purchase odds).
- Way more likely to visit the website than the average customer (54.45 visits, 73.57 visits, 30.59 visits, on an annual basis).
- Likely to combine email marketing with another advertising channel.
- More than half of the purchases, among the email centric customer segments, happen in-store. This means that the standard open/click/conversion framework completely misses these purchases, and as a result, seriously miscalculates the effectiveness of email marketing.
- Email buyers tend to be browsers - they visit the site all the time - and therefore, do not need to be given "hard-sell" tactics. These customers, on average, are visiting the website once a week.
Your best customers visit the website all the time. Why bore them with website updates that happen monthly? Or every-other-week?
Some customer segments require a constant supply of new content. Segment your customers, and then give the customers who require new content a steady diet of new content! Stop boring customers!
Contact me (email@example.com) for your own, customized Online / Retail Dynamics analysis.