In the world of digital marketing, there are a multitude of channels available for businesses to reach their customers. From social media to search engine optimisation, it can be overwhelming to choose which channels to invest in. However, one channel that we find that is being under-utilised time and time again with our new clients is email marketing. In this blog post, we will discuss why email marketing is an undervalued marketing channel and how it can drive additional revenue for ecommerce stores. We will also touch upon Klaviyo, an email marketing platform that specialises in ecommerce, that we always recommend to our partners, and two important email campaigns: basket abandonment flows and welcome series.
Firstly, email marketing is often overlooked because it is perceived as an outdated channel. With the rise of social media and other digital channels, businesses may feel that email marketing is no longer relevant. However, this couldn’t be further from the truth. According to a report by the DMA, for every $1 spent on email marketing, the average return on investment is $42. Additionally, email marketing allows businesses to have a direct line of communication with their customers. While social media algorithms can limit the reach of a business’s posts, emails will always be delivered to the subscriber’s inbox.
Secondly, email marketing can drive additional revenue for ecommerce stores. With basket abandonment flows, businesses can target customers who have added items to their cart but haven’t completed the purchase. By sending a series of emails reminding the customer of the items in their cart, businesses can increase the likelihood of the customer making the purchase. According to a study by SaleCycle, basket abandonment emails have an average open rate of 45% and a click-through rate of 21%.
Another important email campaign is the welcome series. This is a series of emails that are sent to new subscribers to introduce them to the brand and encourage them to make a purchase. By building a relationship with the subscriber through personalised and targeted content, businesses can increase the chances of the subscriber becoming a customer. According to Klaviyo, businesses that send a welcome series have a 69% higher open rate and a 151% higher click-through rate than those who only send one welcome email.
When it comes to email marketing platforms, one platform that specialises in ecommerce is Klaviyo. Klaviyo’s platform allows businesses to create targeted and personalised email campaigns based on customer behaviour, such as purchase history and browsing activity. With integrations with popular ecommerce platforms such as Shopify and Magento, Klaviyo can easily sync customer data and provide businesses with real-time analytics to optimise their email campaigns.
In conclusion, email marketing is an undervalued marketing channel that can drive additional revenue for ecommerce stores. With basic email campaigns such as basket abandonment flows and welcome series, businesses can target customers at different stages of the customer journey and increase the likelihood of a purchase. By utilising the power of email, businesses can have a direct line of communication with their customers and see a high return on investment.