Working with segmentation is a powerful, cost-effective means of getting the most out of your marketing efforts. To that end, we've compiled 5 of our favorite segment strategies to help inspire your future campaigns.
Wish lists are great, right? They help you get a better idea of your customers’ interests, they’re great for out of stock items, and they’re the middle ground between being a visitor and becoming a customer. The only issue being, most people forget about their wish lists despite how much they may want what's on it.
Considering the high revenue and conversion potential of wish lists, you're definitely going to want to try incorporating this segment into your marketing strategy. Personalized reminders that contain those items and are either incentivized or sent during a sale can help trigger their memory and get them shopping.
You can even go a step further and make wish list creation a part of your welcome strategy. That means, when a customer either becomes a new customer or subscriber, you can ask them to complete a wish list so when one of their items goes on sale you can target them and get them motivated to purchase.
When you’re a regular at a retail shop or someplace like a cafe, you probably get treated a little differently than someone walking in for the first time. Maybe a free cake to go with your coffee; perhaps an extra little something for free; or maybe you learn before everyone else about some new products coming in.
When it comes to e-commerce, the desire to feel appreciated and special for being a regular customer doesn’t change. The only thing different is how you have to go about it.
For those who generate high revenue, make sure you're trying at least one, if not a few of the following:
Remember when we mentioned most people leave the checkout process because of costs? Well one of those costs that people are potentially running away from are your shipping costs and nobody feels that more than your high-frequency customers.
These high-frequency customers are those who purchase from you on a regular basis, like those buying consumable products on a routine schedule. Customers that fall into this segment are amazing because they've already shown an affinity for your business and are giving you a steady stream of revenue.
With that in mind, considering they’re already purchasing from you on a regular basis, a sale or discount isn’t going to wow them as much as discounted or free shipping would, either at point of sale, with a special option for repeat purchases, or at some point after. By doing so, you’re not only catering to their needs, but building their loyalty.
It’s a simple fact of e-commerce that the vast majority (70%) of shoppers who put something in a cart will abandon it. But actually, that’s no cause for concern because getting those individuals to finish their purchase is actually very strong, and you have data on your side to help make that happen.
You’ve probably seen cart abandonment strategies talked about a fair amount and that's because of how effective they really are. Cart abandonment emails sent within the first 24 hours will be opened by nearly half of the people and just under 20% of those people will purchase. Amazing results for just a simple reminder.
When it comes to the reminder, use the knowledge they’ve given you, a la their cart contents, and create an email that showcases those products. Second, most people don’t finish checkout because of costs, so consider a discount on shipping or incentivize their purchase with a discount, although many times the act of reminding them may be enough.
If you really want to dig into segmentation, how about targeting those customers who have ordered from you right before a holiday or key time of the year. These are your last minute shoppers and you can craft a campaign that harnesses that knowledge and makes sure you don’t lose out on their business.
First, you can try what you can to get them to shop early. This includes creating a sense of urgency leading up to your last guaranteed standard shipping date, offering sales, discounts, and special offers that expire on that date.
If they’ve missed that date, you can still cater to their procrastinating tendencies by offering them discounted expedited shipping, specials on gift e-cards, or an incentive to purchase in an after-holiday sale.