How To Increase The Lead Conversion Ratio With Drip Marketing?
Over the years, we have seen back-scattering, re-establishment and recreation of technology.
As we turn over our minds, we have been following a path of learning and implementing. We turn out to be a property from a neophyte.
We, marketers, keep working on how we can renovate the underpinning technologies for marketing so that we could be able to protract success in our business.
In this digital era, where information is sent and received digitally, only reckoning on self-analysis is not adequate. It requires vigilance and proficiency in technologies is for an individual or organization.
What exactly is drip marketing?
The lead score is considered to be 0 at the beginning of the sales funnel. At the initial period, no one will buy your product or services. You need to nurture your lead. Cultivating your lead can change your sales conversion. The base of nurturing a lead revolves around these 4 points:
1. Triggering the response: When your customer is searching for a product and clicks on the option, he is searching for acts as the first trigger which converts his score from 0 to 5. The second trigger occurs when you send relevant emails as per the requirements or search criteria of the customer.
2. Educating the prospect/education based sales: This includes the provision of details regarding the first trigger the customer had made as per his search criteria.
You need to mail all the relevant details of the product the customer is searching with other related products and proper comparison of all the products. In short, you are educating them first before selling up your things so that they can make a correct decision.
3. Lure them into buying and building interest in offers that you make: After the 2nd trigger, your customer might be interested in buying the products but ignores due to various reasons. A ‘no’ is not necessarily a definite no.
It can be ‘out of the budget,’ ‘will buy later on’ and so on. Therefore, once you see that the customer’s score is ten, you can consider him a prospect thus giving him various offers like cash back, discounts, seasonal sale offers, etc. It helps the customer to think as they get to buy in a suitable package.
4. Stay in the talks and minds of your customers: If you analyze all the three steps till now, the entire game is to send emails repeatedly to your customer. That means, you always have to be available as you never know when your customer might need you.
As there is a famous saying,
“Out of sight, out of mind.”
It’s better to always remind them about your existence in the market for better offers and quality products.
Re-framing the definition:
Thus, if you analyze all the 4 points, the typical thing you have noticed is ‘you have to send repeated emails to your customers over some time.’ It is called Drip email or drip marketing.
Problem Statement: But why it is deprecatory to increase the conversion ratio?
Based on the 4 points of nurturing lead, the following becomes the pain points of a marketer:
1. At one shot, it becomes difficult to share all the information with the customer. That information can be not only product related but also things like how have you helped customers before? How your after-sales services have been beneficial to a customer? And much more such information which you can share at one go.
2. It’s true that we need to stay fresh in the customer’s mind but how is it possible? More precisely what are the ways we can do it?
3. Whenever the customer changes his/her mind how can we know or make our presence at that particular time?
A one-stop solution to decrease these pain points for a marketer is- Drip Marketing
If you have ever visited the official website of Amazon and have ordered/purchased anything, you might have observed the emails that we get from their official site.
Some people think to buy online, visit a particular section/category, check the prices and log out.
These people get emails from the company regarding their search category for more relevant information that might interest the customer to trigger again.
If the customer again visits those site and the category in the statement, the next mail which he/she gets is about the offers the e-commerce site is offering on those category which may further excite you.
If you analyze this entire process, there is a customer/audience segmentation concept that comes into light. Amazon divides its visitors into separate sales category so that it can target them through emails with different messages concerning the group they belong to.
Step1: Segmentation of your audience
You can segment your audience into various categories like:
1.New prospects-People who don’t know about you
2.Past clients- who have already bought products from you
3.Current Clients- who are purchasing currently
4.Referral partners- people who refer your business
5. Closed prospects-who are not all interested in buying
6.Cold prospects-won’t be buying in the near future
7. Warm prospects-desire to have more info about you but yet not commit to buy
8. Hot prospects- actively engaged in discussions and meetings.
In the earlier discussion, I have mentioned four critical points that are essential to nurturing a lead and based on these 4 points few very critical pain points of a marketer.
Since we need to implement drip marketing, we have to classify our emails too. You can classify these emails are into various echelon.
Increase your lead conversion ratio with Drip Marketing
1. Lead generation
The target at this echelon is entirely for the new prospects. Since these prospects have no clue about your company, its essential to educate them about your products and services.
The email content should be more prospect focus rather than the product/company focus. If you create a material which is company/product focus, it will be another blowing of the trumpet of your company.
You can mention as what kind of services your company offers or what kind of pain points of a customer you have solved till date and so on.
Since we are focused on new prospects, they can be classified as hot and cold prospects.
“The best marketing is Education.”
People always value knowledge that you provide when they invest money into something that they are unaware.
Oral marketing as we say is when these people act as your brand ambassadors on your behalf. Thus we can say that educational drips are pivotal in marketing. Such Educational drips come under Top of the Funnel window.
Getting back to the previous question, about an unenthusiastic lead, we put such points into the category of the top of the funnel. The reason behind this is, we need to introduce our brand and industry news related to the services and products that our company provides in adjacent to the lead’s area of interest.
You can classify Leads as Hot Lead and Cold Lead. Hot Lead is more interested in buying as compared to Cold Lead. Cold leads are more difficult as convincing them requires more investment of time and effort. Whereas Hot leads are well qualified and confident about your product and services are ready to lock the deal.
If I order a pizza from Dominos, then this is a conversion of Dominos.
If I visit the site of Puma and if I subscribe their newsletter then this is also termed as conversion.
From various consultancies, we receive calls for job requirements or vacancies. It is known as Conversion.
In short, we can say that conversion may be any product sold, any newsletter subscribed, or any phone call made or downloaded any song from a particular site, and so on.
2. Building Interest
This tier focuses on hot prospects. Warm prospects mean they are now aware of your brand, have knowledge about the services you offer.
Now you can focus on contents that emphasize on your company or products. More precisely you can cover your material with differentiation of products, facts about your company, what your clients have said about your product and services, etc.
The primary aim of this echelon is to stay in touch and build interest in the prospect.
Hit the Bull’s eye: The priority being a marketer is to lure customers to your business site. The festive season is the most bankable period for e-commerce sites. It is a productive time for any e-commerce site.
If this festive season delirium is missing in your strategic plans, you need to give a thought on this!
It is for re-sending the same mail but with a different subject line after a stipulated period.
A flowchart shows how the process can be carried out with adjunct screenshot given before. First, there is a lead creation through any subscription or opt-in form.
Next, a welcome mail is sent which is a drip. Then wait for a day or stipulated time. Check if the letter is clicked tell the salesperson for further proceedings. If the email wasn’t clicked with a specified period, then the same email is sent again but with a different subject line.
Drip Emails catches the eye because they earmark both prevailing and leads in a mint condition. Usually a drip mail will be mailed if and only if you subscribe to some newsletter or fill up opt-in forms.
But if you haven’t done that, how can you receive emails? One solution can be sending mails in the following way that would attract new leads. The following screenshot is regarding SEMrush Toolkit exam.
If you see the above screenshot, the trip was regarding routine the SEO Toolkit exam. This action was an intelligent move by SEMrush which would not only inform me about the current status of their schemes but also would be equally beneficial for my colleagues or team members if interested.
There are in total three paths where one can be interested in viz., PPC toolkit, Content toolkit and SMM toolkit depending on their skill sets an area of interest.
At the bottom, if you see, all new leads are encouraged to take up this test for their skill enhancement. They have also urged forwarding of emails to peers. It will help SEMrush as it becomes a relevant factor for chasing through this drip.
The target audience for this echelon are the current clients. Since the main focus is on the current client, the goal is to sell new products to the existing and old clients.
It is one way of saying your clients “We have more for you!” Since we are focusing on the current clients, our email contents should be more about those products that the clients are not purchasing.
Now consider a lead who is a long way down the sales, for instance, a person who has ordered a jacket online and is proceeded to the payment gateway and yet to pay.
For such leads, we classify them under the bottom of the funnel class. The reason behind this is, being a warm lead it will have queries regarding price, quality, after-sales service, product comparison guide and so on.
Now consider a lead who had clicked to check your offer drip that your business had provided. This lead will fall under the category of the middle of the funnel.
In the middle of the funnel, you should offer the lead various promotional offers that your company can provide against the competitors and lures the lead to lock the best deal.
4. Connecting your leads
This echelon is much more concerned with staying in touch with your prospects that also except the closed ones. These tactics is more focused on being on the minds of the clients. The content is more informative in the form of white pages, blog posts, e-books, etc.
It’s essential that you connect well with your leads. Right from greetings to new offers, you need to update your leads with the latest information.
You can see an auto-generated mail below. The system generates the mail after the user download an e-book from a particular site. Also, they have asked to share your experience with others.
5. Come Back!
The focus of this tier is on the past clients who are not buying any products from you anymore. Thus we aim to bring back those clients to our company and build their interest in our products. The mail contents should gyrate around credibility, FAQ topics, objection response, and so on.
Consider the screenshot for customer re-activation. They have asked few questions regarding re-login onto their site. They had stated a few reasons due to which the user hasn’t log in from past one month.
Point to remember: Track your leads
Your drip campaigns act as a tracker. They track your leads’ interaction and score them. If monitored properly, you can easily differentiate the leads who are tied up from the leads who are not responsive or unoccupied. The next step after separating them, you can quickly initiate the reactivation campaigns as necessary.
As you can see in the screenshot below, the lead-score is mentioned depending upon the total number of times he read the blogs or subscribed newsletter or is a client who has already experienced your service or someone who always actively visits your sites for recent updates.
With this score, you can easily make out whether the lead has a keen interest in the offers and services of your company. With this approximation, you can ask for feedback using a feedback drip which in turn will be in use for your company’s campaigning.
Fundamental Points to be marked:
Different type of Drip emails:
You can segement the Drip as:
- Educational Drips
- Offer Drips
- Action-completion Drips
- Customer Retention
- Customer Re-activation
- On-boarding Drips
- Upgradation Drips
- Feedback Drips
As mentioned in the article previously, it’s necessary to educate first for effective sales. Few samples are as follows:
As you can see in this screenshot, he is completely into guiding the person with details through his site and provides the link and thus engages the user.
Offer Drips are those where you send emails offering various advantages to leads as compared to your competitors.
Consider the screenshot below. The incomplete cart which I had left, the site is providing me with a link to complete the cart and process further. It is an action completion drip.
Customer Retention drips are triggered when a customer opts out from the service of a site/business.
When you want to buy a mobile phone as per your set budget, and you check on e-commerce sites, the site provides you details of not only the product you have selected but also other related products to buy with your products.
The site also suggests you look at other models which are quite higher than the one you have selected. Thus this comes under cross-selling and up-selling drips.
Consider the screenshot below:
As per the screenshot, a user has logged out from a writing site without writing any article since last week. The customer re-activation drip asks regarding the user’s logout and provides a link below.
After registering or creating a new account on a site and once you log in, you get an onboard or welcome mail from the site. It is On-boarding Drip. The below screenshot is given for reference.
Upgradation drip is triggered when a user has ended up with the ongoing service and has to upgrade the facility to avoid further interference. As you can see the screenshot above, an upgradation mail has been triggered to a user from Zapier for improving the services for smooth functioning.
Look at the screenshot given above. It’s from the UBER app. After the completion of the ride, user triggers the feedback drip.
If you can relate the quote, “Be a unicorn in the sea of Donkeys” then you are going on a correct path.
I am pretty sure that I could give a main consideration of all the hacks that are related to drip marketing and the effectiveness of using it in marketing strategies.
Email has been used extensively for marketing your products and services, and correct drip at the right situation will give your business a shot of expansion.
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