Why e-mails are so powerful for marketplaces
How great e-mail marketing can give you a sales boost every month
E-mail marketing is probably something that every business utilizes in some form or another, but for marketplaces, a good e-mail strategy can mean that you are able to re-engage customers every month, and if you are building something good, these customers will make your e-mail sending day your highest grossing day of the month, every single month.
This is how it often looks like a few minutes after sending my monthly email. But let’s see why e-mail marketing seems like this foolproof thing on a marketplace.
Marketplaces are living objects
Other than a SaaS business for example, a marketplace is everything other than static. Every day, new suppliers are added, suppliers have new services or new products to offer. A marketplace rarely looks the same on the next day, let alone in a month.
For customers who have entered your e-mail list, this is often not so apparent or clear, and people just lack the time to check in. Other than most marketing e-mails, you are therefore providing a really useful service in updating your user base once or twice per month.
For this to work, your e-mail needs to be designed to be helpful-first. In my newsletters, I do not mention prices, sales or purchases at all, I just list some of the new mentors that joined, some of the new products we have, and where people can learn more. If you build something that people want, that is enough.
Customers did not lose their purchase intent
If a customer looks at your site and doesn’t buy, they must not be interested, right? No! The reason why e-mail marketing is so powerful is that many of your users did not lose their purchase intent just yet, they might just not have found their perfect fit yet.
That means, if you work some more and add unique suppliers to your marketplace in a month, that might align with what a lot of your “lost” customers have been searching for. You are not only driving traffic to your site, you are re-engaging people with a strong intent to purchase something from you.
So, to wrap this short post up, what do you need to do to re-engage your audience and get you the single highest grossing day every month?
Send an email once per month
Don’t sell, just show
Let people know what’s new and what has been going on
Make the email informative and long
Make it pretty, Mailchimp etc. can help