Not every marketing campaign is built to boost your business's top line. Some aim to grow brand awareness, to establish thought leadership, to increase app traffic, or to gain social followers. Of course, these objectives are not mutually exclusive, and a well-designed and executed campaign can accomplish multiple goals at once.
Below, we share six tried and true practices to build powerful conversion-drivers into your marketing mix.
Customers are drawn to free things, a phenomenon known as the Zero Price Effect. Put simply, humans throw rational decision-making out the window when it comes to free stuff.
Unlike a linear utility model—which reasons that a decrease in price corresponds to a proportional increase in utility and demand—the zero price effect results in disproportionately high demand. Consumers magnify upside and minimize downside when it comes to acquiring free goods.
What does this mean for you? You can start leveraging free resources like templates, whitepapers, infographics, and webinars to increase distribution and brand interest. By offering something free and valuable, you have permission to ask for something in return—free content in exchange for information (e.g. enter your email to unlock our free guide to setting up your customer data platform).
Use an interview series to generate social proof. Social proof gives prospective buyers the confidence to choose your brand (conversion layer) and provides your existing users with valuable content (retention layer).
More than ever, buyers want to purchase from brands that align with their personal values.
Give them a peek behind the curtain; this could be a video tour of your supply chain, a backstory on your brand, a case study with a prominent customer, or a peek into your sustainability efforts.
You might also consider an interview series with customers or industry experts. These can be powerful case studies and help you establish thought leadership and credibility in your category.
A reengagement campaign is a sequence of emails sent to customers who haven't interacted with you in a while. This segment of users represents a significant low-hanging fruit revenue opportunity (it can cost up to 5x more to attract a new customer than to retain an existing one).
A reengagement series should remind your customers of your brand's value and encourage them to come back. Consider using incentives, education, or customer success (like a 1:1 strategy call) to inspire behavior. You can learn more about reengagement or get started with a free template here.
A referral program incentivizes customers to promote your product or service to their personal networks. It's a form of viral, word-of-mouth marketing (WOMM) that can result in exponential growth for your business. According to Nielsen, 92% of consumers worldwide said they trust WOMM (or recommendations from family and friends) above all other forms of advertising. WOMM is estimated to account for 13% of consumer sales globally.
There are two types of referral programs:
Discounts are a great way to attract new customers and encourage existing ones to buy more. They can help you create urgency with buyers, reward your community, clear inventory, and move product that's been sitting on the shelves for too long.
A few common types of discounts:
Customers can’t resist “Best of” or “Top 10” lists. Listicles are incredibly easy to produce and can be repurposed across multiple channels. They're great for SEO, social engagement, driving newsletter signups, and encouraging purchase behavior. For example: if you're an ecommerce seller, you might try "Our 10 favorite sweaters for fall" and include links to each product page.
There you have it—6 ideas to start boosting revenue immediately. Give one (or all) a try and let us know how it goes.