by Fronetics | Aug 18, 2016 | Blog, Content Marketing, Marketing, Strategy
Transactional emails offer prime real estate for driving further customer engagement or action.
Your business probably invests a lot of time and effort creating marketing emails to send to your prospects and consumers. But have you thought much about the content of your confirmation and thank you emails?
New findings from IBM Marketing Cloud’s 2016 Email Marketing Metrics Benchmark Study suggest you should. The survey “examines messages sent by nearly 750 companies and 3,000 brands in 2015, using a wide variety of measurements to establish benchmarks on customer engagement (via multiple open, click, and device/email client metrics) and list churn (hard bounces, unsubscribes, and complaints).”
One important finding relates to how recipients engage with transactional emails, messages confirming a purchase or an action (such as signing up for a newsletter). In almost every respect, transactional emails outperform non-transactional emails. For example:
- Transactional emails generate roughly 2x the open rates of non-transactional emails.
- Transactional emails generate roughly 3x the click-through rates of non-transactional emails.
This should not be a surprise, since these emails are based directly on a person’s purchase or action. But what many companies don’t realize is that these messages represent an opportunity to drive further customer engagement or action. Adding a prominent call to action can encourage the recipient to join your email list, make an additional purchase, or otherwise move further down the purchase path.
Instead of a simple “Thanks for your purchase!” email, put a little thought into how you might keep that person interacting with your business. Here are a few ideas:
1) Ask them to review their purchases.
Include a link to the recipient’s account or orders page. This gets them back on your website, where you can add additional calls to action, advertise related products, or encourage them to join a loyalty program.
2) Offer an incentive for future purchases.
Encourage recipients to buy again soon by providing a discount code for their next transaction. This also helps build brand loyalty by showing customers you value their business and want them to come back.
3) Request they follow you on social media.
Provide links to your various social media accounts to build additional touch points with your customers and prospects. Suggest they post photos of themselves using the products they purchased, share their purchase (or link to the newsletter sign-up, etc.) with their followers, or enter your contest or giveaway happening on these platforms.
4) Show them how to use their purchase.
Link to content that can improve their experience with the product or service they just bought. Step-by-steps guides, how-to videos, images of other buyers using the product: give them valuable support to improve their user experience and to keep them engaged with your content.
5) Display similar or related products.
What else do customers buy when they make the same purchase? Do you have other products or services that go along with it? For example, someone buying a hammer might also be interested in nails, toolboxes, or screwdrivers.
6) Ask them to join your loyalty or rewards program.
This is another way to offer incentives for future purchases and exclusive access to deals while your business gains additional information about the person.
7) Request they sign up for your newsletter, join your email list, or subscribe to your blog.
Encourage them to stay in the loop by opting into your content. You’ll stay in the sights of potential buyers that aren’t ready to make a purchase, and be on their mind when the time comes to buy.
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by Elizabeth Hines | Aug 16, 2016 | Blog, Data/Analytics, Logistics, Strategy, Supply Chain
Look at your financial metrics on a granular level, beyond the basic snapshot, to identify opportunities for growth.
Big data can show homogeneous revenue opportunities and cost inputs. But that overview is inadequate for determining how different aspects of your business are performing and where opportunity for growth may lie.
Essentially, you need to analyze your financial metrics at a granular level rather than in aggregate. For example, your business probably offers several products or services and feeds off of more than one revenue stream. Each must be evaluated separately in terms of value and profitability to determine how each is performing, rather than just examining your entire portfolio as a whole.
The key to increasing profits is not always blazingly obvious, but rather it is hidden in the minutia. There you will identify what is growing the business and what is not.
How to get down to the granular level of your financial metrics:
Consider your sales figures.
What is your profit — broken down by product, brand, region, etc.? Note any similarities and differences. Can you identify outliers? Can you identify what works and what your barriers are? If not, you must drill down further. For example, if a specific product is successful, why is this so? Is its success the result of a team or an individual? Can this knowledge or skill be applied to other products or services?
Identify products, brands, or services that don’t make financial sense.
You know they exist already. They are the ones that eat up your resources or simply no longer fit well with your brand. It may be time to eliminate ill-fitting clients, products, or services that don’t benefit the company. You then can pour the freed-up resources into higher-profit activities.
Know what the critical numbers are.
What is important to your business can be very specific to your industry. Inc. magazine’s guide to tracking critical numbers offers a great example: “A software consultant may focus on billable time, for instance, while a food retailer should be looking at sales per labor hour.”
Repeat this review process often.
This is not a one-time exercise. Typically, financials should be reviewed monthly, but each business will vary. Things that ebb and flow, like inventory or manufacturing output, should be reviewed each day, and the sales pipeline should be examined once per week.
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by Fronetics | Aug 15, 2016 | Blog, Content Marketing, Marketing, Social Media, Strategy
If your social media strategy doesn’t align with your business objectives and target audience, your marketing budget is probably better spent elsewhere.
Almost half of CMOs report they do not feel prepared to manage the challenges that accompany the rise of social media. Regardless marketers report that they plan to double social media spending in the next five years.
Pouring money into increasingly complex and expansive social marketing campaigns will not guarantee success, however. Instead, Keith Quesenberry, author of Social Media Strategy: Marketing and Advertising in the Consumer Revolution, suggests that marketers need to boil their social strategies down to the basics to improve results.
“They must use fundamental marketing concepts and modify them for this new two-way, consumer-empowered medium of social media,” says Quesenberry in a Harvard Business Review article. He offers these four steps for developing a basic social strategy.
1) Identify your business objectives.
Any strategy your business adopts should carefully align with your goals. Are you hoping to grow brand awareness? Generate more leads? Rebrand your business? Your social strategy should serve those objectives.
2) Listen to your target audience.
Yyou should have a thorough understanding of who your target audience is and how they use social media. After all, millennials use different platforms at different times than, say, Fortune 500 CEOs. Quesenberry suggests using analytics tools within social networks and secondary research, such as the Pew Research Internet Project, Nielsen, or Edison Research, to identify larger trends in social media use.
3) Produce engaging content.
Create the kinds of content your target audience seeks, and distribute it through the platforms on which they seek it. How-to videos on YouTube? Thought leadership on LinkedIn? Optimize the material you distribute for each channel. Use the social channels that best suit your brand message, type of content, and target audience.
4) Link marketing goals to social media KPIs.
Measure key performance indicators such as social media click-throughs to purchase (if the goal is online sales), social impressions (for brand awareness), or number of campaign-specific forms completed (for lead generation).
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by Fronetics | Jul 28, 2016 | Blog, Diversity, Leadership, Logistics, Strategy, Supply Chain
In an interview with Kate Lee, Saunders discusses her career in the logistics industry and key issues within the supply chain.
Kelli Saunders is president of Morai Logistics.
The percentage of female CEOs in the Fortune 500 declined from 4.8% in 2015 to 4.2% in 2016. Canada, too, has realized a decline: 8% of the highest-paid executive positions are held by women, down from 8.5%. Research conducted by Gartner in April 2016 finds that for the supply chain industry, “the percentage of women in leadership positions decreases as the corporate ladder rises.”
It was a “fluke” that Kelli Saunders found the supply chain industry. More than 30 years later, Saunders is president of Morai Logistics Inc., an Authorized Agent of Mode Transportation. I sat down and talked with Saunders about her career and her perspective on women within the supply chain industry.
How did you find the supply chain industry?
It was a fluke. I was just out of college and needed a job. I found an ad in our local paper for a telemarketer, and I applied. I was hired as a telemarketing supervisor for a Canadian intermodal marketing company (IMC).
The man who owned the company focused on his employees. He taught us how to read a balance sheet and an income statement. He taught us the difference between added value and value added. And he taught us the industry. He had us climbing into trucks and railroad yards so that we could truly understand the industry.
When his wife sadly passed away, he decided to sell the company. He allowed six of us to become majority shareholders.
Fast forward sixteen years. The company has been bought and sold many times. I’ve stayed with the company through this process. Each time the company changed hands, my role changed, exposing me to different aspects of the business. Six years ago I bought the company back and now serve as president.
Your first boss sounds like he was a pretty incredible person.
He was. And now it is my turn. It’s my turn to give back.
I am a big believer in millennials. Their energy is contagious. I strive to be a mentor to them, and to let them know that they can dream big.
You’ve been in the industry for more than 30 years. What changes have you seen?
The industry is becoming more diverse, and more women are entering the industry. That being said, there is a still a long way to go. A big challenge is getting women and minorities to recognize that the supply chain industry is an option.
Tell me more about this.
Women don’t seem to recognize that there are incredible opportunities in the supply chain industry. The industry needs to do a better job at sharing what is happening — what the industry is all about. People think it is dull and boring; it’s not.
The supply chain industry is not just about getting things from point A to point B. The industry is an entire sophistication of infrastructure. There are so many aspects that we take for granted. Streamlining the chaos within the industry is incredibly rewarding.
How can this problem be addressed?
We need to get out and talk to more people. We need to go into the schools; we need to make connections and have conversations. Companies need to share their stories more widely. It is all about getting the word out there.
What advice do you have for people who do enter the industry?
Surround yourself with the best of the best. This is true when it comes to your colleagues, your employees, your vendors, your clients — everyone. This not only makes life more enjoyable, it has an impact on the bottom line.
Interestingly, 75% of the staff at Morai Logistics are women. This is not by design. By seeking out the best of the best, it just happened.
As a mentor, what advice do you give?
Dress for the job you want, not for the job you have. But I am not talking just about clothes. I am talking about your mental state, your body language, the quality of the work you produce. Visualize the job you want and portray that in all you do.
I also tell people to always be honest, respectful, and ethical. These characteristics are essential.
Getting the right product to the right place at just the right time is a complicated business. Kelli Saunders, CEO of Morai Logistics, understands the complexities and nuances involved in long term sustainability in the logistics industry. This is why the company she leads is the successful multimillion dollar, multinational business that it is today.
Kelli’s experience in the supply chain and logistics field is extensive. During her 30 years in the industry, she has been recognized for her strategic selling, relationship development, and management throughout North America. She started from her humble beginnings as a telemarketing supervisor for a Canadian 3PL provider to creating Morai Logistics Inc.
Since then Kelli has received numerous awards for her expertise in strategic sales. She has shown consistent impact in the industry by being awarded Salesperson of the Year numerous times, and was the former president of the Toronto Transportation Club. As a certified diversity supplier, her company has received WeConnect Canada’s Doing Business International Award and WBE Canada’s Doing Business Award as a woman-owned business.
Aside from assisting her clients with services including warehousing, management consulting and technology services through Morai Logistics, Kelli’s drive also shines through in her other passions.
She is an active member of the Women Presidents Organization, WeConnect International, and WBE Canada. Kelli strives to inspire women by telling her story and sharing her lessons at talks to support fellow female entrepreneurs. She also takes time to enjoy spinning, running, golf, and travelling. Her motivation and drive shows in her company’s performance and inspires her team to succeed.
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by Fronetics | Jul 20, 2016 | Blog, Content Marketing, Marketing, Strategy
AdWords’ upcoming updates will make it easier for local companies to earn the top spot on local search, which can drive significant new business.
Google AdWords has made it easier for local businesses to get their names in front of people searching for products and services like theirs. The update involves changes to the so-called “3-pack,” or the listing of three related local businesses on a search results page. It’s also known as the local pack.
Let me explain: When you use Google to search for a product, service, or provider, a map appears in your search results overlaid with three nearby businesses related to your search query. For example, I searched for a “granite provider,” and got the following results:
There is a pay-per-click ad above the map, followed by three organic listings (the 3-pack), and then the organic results of the search query.
Many consumers rely on the 3-pack to discover businesses in their area that offer the products and services they are seeking. And businesses get the benefit of many additional leads and customers when they appear in the 3-pack. This can be particularly significant for small businesses.
Moz conducted an thought-provoking experiment last August (when Google reduced the number of businesses listed below the map from seven to three). Users were instructed to conduct a search query, and Moz tracked where they clicked. The results were as follows:
- 44% clicked on a local businesses listed in the 3-pack
- 19% clicked on one of the pay-per-click ads above the map
- 29% clicked on an organic result below the 3-pack
While the experiment isn’t totally representative of users who are searching for local providers — given they were provided a search query — it does suggest that users are more likely to click through to businesses appearing in the 3-pack than elsewhere.
How can I get my business in the 3-pack?
Here’s where things get really interesting.
Currently, businesses who are aware of this phenomenon compete for these three coveted spots by spending lots of time, money, and effort optimizing their pages and outside factors (such as listings in local directories) to improve their chances of ranking in the 3-pack. Needless to say, small businesses with limited resources and know-how — those that could benefit most from appearing in the 3-pack — rarely have the opportunity.
But this is about to change. Google has been hinting at plans to include ads in the 3-pack. At a recent marketing expo, an executive confirmed that the team had been testing different variations of a reinvented 3-pack. He explicitly mentioned both one ad/two organic local listings and one ad/three organic local listings but noted testing was still underway.
Either way, businesses advertising in AdWords will soon have the opportunity to appear as the first listing in the 3-pack. The requirements are very simple. A business must:
- Link a Google My Business account to an AdWords account
- Add a local search extension
Google has not released the official roll-out date or other details, but one thing is certain: It is more crucial than ever for small businesses to utilize AdWords to drive new business. The reinvented 3-pack has major potential for local companies, and the reasonable cost of AdWords campaigns makes it a no-brainer, especially for small businesses with limited time and expertise for search marketing campaigns.
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