The use of triggered and regular email campaigns is widely used in the industry and is a standard marketing practice for many stores. But are you sure you are using all the benefits of this tool?
As a rule, triggered email campaigns are targeted at a pretty loyal audience, so they remain one of the most efficient ways of sales promotion in e-commerce. The data from GFK and Yandex.Market confirm that even during the crisis, email campaigns are the third largest motivating factor of spontaneous purchases, preceded only by free delivery and promotional events.
When it comes to the art of creating sale campaigns today, marketing experts use their best tricks by adding various stimulators to the letters to clients: new offers, reminders, discounts, promo events, etc...
In theory, any systematic work with the database is supposed to yield results. Another question is: how efficient are the results of the email campaigns that employ similar techniques? The buyers today probably need a higher value communication: useful, timely information.
A reminder: the product price is a crucial factor in shopping decisions. How about creating campaigns on the basis of the current information about the product market status, with the competitors' prices as a reference? For instance, this information can help make product lists or add new sections: Only Available Here, Attractive Deal, Super Price, Best Promo.
There is plenty of room for experimentation.. Let's look into several steps that help improve the triggered campaigns and increase their conversion by using market price data.
Here are some examples of implementing trigger changes in writing a motivational letter:
Based on the knowledge of competitors' prices, change the generic items for better priced products placed in the cart by showing the competitors' prices or by suggesting the buyer to check the price for the selected product.
Whenever one product with the “Best Price” tag is viewed long enough, Competera automatically allows a notification containing the average market price and possible savings to be sent. Whenever the products are viewed long enough, letters offering similar products may be used, but with a more affordable price. This technique will let your store build the “Best Shopping Place” reputation and will show that you really care about the buyer.
Competera automatically allows the product list as a generic letter with “Best Price”, “Best Availability”, and “Best Promo” tags from API to be generated. This will save you the time of adding products tothe generic letter manually. All you have to do is approve the mailout or make the necessary revisions.
The product price knowledge with the competitors' prices as a reference is helpful not only for the pricing department – it helps the marketing department as well.Experience shows us that the two do not always communicate in a timely and proper manner. The pricing department increasing the product price when the productis no longer in stock is a typical situation. All the while, the marketing department keeps promoting the “Best Price”, damaging the store's reputation. By tracking the prices in a timely manner, communication between the departments is improved, resulting in increased customer loyalty to the store that cares about the customers by actually helping them make profitable purchases.