The rise of new tech has empowered businesses to deploy advanced methodologies to boost sales. With many aspects of the process being automated and streamlined, it’s up to businesses to focus on personalization and competitiveness.
However, new tech can only help as much as humans tell it to. It would be unfair to ignore the impact of talented marketers in this regard.
Deploying Conversational Intelligence
Conversational intelligence deploys data and insights to boost sales. It has multiple use cases, of which we’ll mention only the most significant ones.
First of all, this technology analyzes customer conversations. In a way, it’s software for sales engagement as it identifies keywords, customer sentiments, and trends. It’s quite good at arriving at customer pain points, which is a major indicator for businesses.
For best results, businesses should integrate conversational intelligence tools with CRM systems as this approach centralizes data (and makes it accessible to everyone).
Conversational intelligence uses predictive analytics to project customer behavior and sales trends. It also analyzes conversations at each stage of the sales process and identifies bottlenecks.
Deploying Price Anchoring
Price anchoring is the practice of setting a higher initial price, a.k.a. anchor, for a product. Soon thereafter, the price is decreased. This trick serves to influence customers’ perceptions and is quite efficient at boosting sales.
Improving Email Marketing ROI
Email marketing still rules supreme, for two main reasons: 1) it’s cheap and 2) it has a wide reach. Need we mention how many people use email services on a daily basis?
However, these two benefits are a double-edged sword. Literally, every business uses email marketing to attract new customers, making the audience weary of the offer.
That’s why you should stick to best practices in this regard, namely list segmentation, content optimization, personalization, and deliverability.
List Segmentation
List segmentation allows for an increased percentage of targeted emails, which, in turn, are certain to boost campaign results. Stats show that segmented email campaigns increase ROI by an average of 760%.
As for the segmentation method, there is no general recommendation. Each business is different, and so are their targets. Regardless of those, however, it is always a good idea to take into account demographics and behavioral data, as well as purchase history. Remember that not all of your customers desire the same product or service - list segmentation will help you unravel who wants what.
Optimization
Email campaigns should be optimized for mobile phones. With approximately 53% of all emails being accessed via mobile devices and one-third of all clicks happening on the go, optimizing email marketing campaigns for the increasingly mobile world goes without saying.
The messages read on a mobile phone or tablet need to look as great as on a desktop computer screen. If the design is not responsive, your ROI is likely to suffer.
Personalized Messages
Personalized emails will do half of the job for you. Not only do they appear special, but they also speak volumes about the care your business takes for each customer. For starters, a personalized opening will serve. Using customers’ names instead of generic greetings is always a plus.
In addition, automated responses can be set up, in line with behavioral insights. Follow-up emails are always a good idea and none better than a thank you email after a purchase. Statistics show that mere personalization increases click-through rates by 14% and conversion - by 10%.
Optimized Subject Lines and Calls to Action
Subject lines are the first thing the recipient will see. Depending on their content, the email may be opened, deleted or flagged as spam. The most engaging subject lines are concise, to the point, and personal but not aggressive and make clear what the message is about. A word of advice, though: although clickbaits have been popular of late, they are more likely to lose you a customer than gain you one. People are tired of fake news and sensational headlines; rely on professional approach instead. Subject lines like “Don’t miss your chance to…” are out of fashion.
Once a subject line has attracted a customer’s attention, it must be followed up by a call to action. Make it concise and eye-catching. It should explain clearly what benefits you are offering. Good calls to action generate more subscriptions in the same way shopping cart reminders boost future sales.
Deliverability
The deliverability of your emails is as important as the contents of your offer. You want the messages in customers’ inboxes, not in spam folders. The catch here is to not use spam trigger words, which are easily checked online (CAN-SPAM Act). To increase deliverability, always add an unsubscribe button at the bottom of all messages.
Performance Management
Finally, it’s critical to keep an eye on the success of your email marketing teams. On top of training your employees, you should also provide appropriate software for performance management.
As mentioned in the beginning, new tech amounts to the effort put into it; it’s the people who can make or break a business, so invest in your talents!
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