Just look at the numbers. Consider thank you e-mails alone on average have a 42.51% open rate, 18.27% click-through rate, and 10.34% conversion rate. Compare this to Mailchimp’s statistics that show on average 24.79% open rate, 4,19% click-through rate, and less than 2% conversion rate! This would make any marketer drool. Ready to dig deeper?
Welcome to the beginner’s guide to thank you marketing.
What is thank you marketing?
Simply put, thank you marketing is a customer appreciation strategy that increases the loyalty of customers and keeps them coming back for more. It rewards loyal customers. This often happens the moment after someone converts. This conversion can be an e-mail form, purchase or any other action.
What are some other examples of thank you marketing? Hand-written thank you cards, calling clients directly, loyalty gifts or simply going out of your way to thank your customers…can all have a massive impact.
Check out Jeff Bullas’ article How A Simple Thank You Message Can Lift Your Conversion Rate for some examples of thank you marketing in action.
It’s at this moment where you recognize, appreciate, and continue to build mutual trust between the consumer and the brand. You may be shocked as well. Those people who have already decided to trust you are far more likely to help you. So then the question is…
Why is thank you marketing important?
Companies can spend vast amounts attempting to convert leads into sales. Unfortunately, these companies are often throwing money down the drain. What to do?
In the marketing world, the general rule of thumb is that the Life-Time Value of your customer should equal 3 * Cost of Acquisition.
The simple fact of the matter is that it is six to seven times cheaper to sell to an existing customer. By effectively increasing your customers using thank you marketing, you’re raising the lifetime value of your customer and all at reduced costs.
If you want to know more about the golden rule of thumb for marketers check out David Skok’s article Startup Killer: the Cost of Customer Acquistion.
What are the advantages of thank you marketing?
By reciprocating trust once customers have converted, companies are able to create loyal customers. .
In addition, when customers have converted they’ve already taken their first step in trusting you. Asking them to take that next extra step often times can be very cost effective. Take e-mails for examples. It has been found that sending a thank you e-mail results in 320% more revenue per email than promotional emails.
What are some examples of thank you marketing?
Thank you marketing can take many forms, from personal letters to discounts. For the purposes of this article we will cover the two most important techniques of thank you marketing: e-mail and thank you pages.
Email gets a bad wrap in the marketing world. However, if you time your message write after someone converts you will be shocked at how good the results are. Just putting out some statistics, , the average open rate for welcome emails is between 50-80%!
There are of course best practices to follow in terms of email content, CTA and timing. We will cover more on this later.
For some tips on how to write thank you e-mails, check out 5 Ways To Use “Thank You” Emails To Increase Your Sales.
For some examples of thank you e-mails check out Hubspot’s blog with 15 of the Best Email Marketing Campaign Examples You’ve Ever Seen.
Thank You Pages
This is most often overlooked by companies. This is a big mistake. There is a short period of time when you can ask a customer right after they’ve trusted you. Take advantage of it! Thank you pages come in many forms (we will cover this later). By adding a simple thank you message (video works perfectly), an additional CTA, and social sharing buttons, one can vastly increase the effectiveness of their post-purchase funnel.
Check out these examples of 10 Thank You Page Examples That Totally Nailed Lead Nurturing to get started.
BEFORE YOU GO
If it wasn’t obvious already, if you’re not doing thank you marketing you should be. The benefits are simply too great to ignore. Added to this the simple rule in business that already existing customers are the easiest to sell to. By using thank you marketing, you can begin to build customer loyalty and thus your bottom-line numbers.
Join us next time where we will go over 10 great examples of thank you marketing. Hopefully this will begin to get the wheels turning and inspire you to create your own.