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How to Apply E-Commerce Email Tactics to Info and Service Businesses to Make More Money
This is genius...
Hey, Matt here.
One of the most popular niches for email marketing is e-commerce (e-com). And regardless of your niche or industry, you should study how e-com lists work…
In fact, I use e-com strategies for my clients who sell courses, info products, & services all the time.
In today's edition, I'll break down how you can adopt e-com strategies for course, info, or service niches.
By the way, if you haven’t seen my article, “The Only Time a Niche Matters,” you’ll like that one because it’s similar to today’s edition also.
Maximizing Value Over Discounts
You’ll notice a lot of e-com brands run discounted promotions, and then re-cycle those promotions at a later date across the year.
However, I prefer a different approach…
Rather than cutting prices, I like to focus on increasing the overall value of your offers.
Instead of offering discounts, include bonuses, and things that add MORE value to the offer itself. This drives higher AOV without devaluing the worth of your products.
Plus, it also incentivizes people to spend more money with you.
Smart e-com brands do this with their spend $100 save $15, spend $200, save $50 type deals. Maybe you see those banners at the top of their site at times.
Obviously, your customers get much larger savings by spending more.
If the margins make sense, this is an easy way to drive higher AOV.
It also increases C-LTV, all the while, making the customer feel like they’re the ones getting the best deal.
Applying This to Subscription Business Models
I love applying this to subscription-based businesses.
One thing to note, when it comes to subscription businesses…
There’s always 2 levers you can pull:
One is free course or digital product with your subscription,
The other is buy the course/info product, and your first month of the subscription is free.
I use both models.
If your subscription is that good, you’ll make plenty of mualah on the backend.
They key is to just create the compelling offer that gets people in the door to begin with.
Simply choose an in-demand course you have that people have been wanting to get, or give them a free first month of the subscription with a purchase of the course.
How to Retain Subscription Members?
This one’s a bit outside the scope of this post, but since we’re already on the topic, I’ll quickly say I like using the Netflix model with my clients, and it’s brilliant.
Netflix put Blockbuster out of business with this, and completely took over an entire vertical, so if you’d wanna do something similar I recommend you follow this approach, too (click here if you want support too).
Basically, the way this strategy works is you always wanna keep something next for your customers.
Whether it’s...
guest speakers,
new course updates,
live trainings,
...There has to always be something upcoming in the future to build anticipation.
This helps with churn.
Realistically, all it takes is a bad week and a customer thinks:
"Hmmm I’m paying this recurring thing, this is what I’m getting, but I also know there’s these other things over here too."
Even if your offer is good, there’s still always that lingering thought of customers when it comes to recurring, or subscription-based business models; after all, people are paying each month.
Talk soon,
Matt Hommel
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