051: Why myEcon? Understanding Financial Literacy Network Marketing w/ Pam SamAugust 11, 2018
053: Customers vs Clients – 5 Tips to Convert Business RelationshipsAugust 25, 2018
Too many businesses struggle and eventually fail because they don’t have repeat customers. In this episode, my guest Thierry Augustin teaches us how list building and an attentive email remarketing strategy can increase your ecommerce revenue ten-fold in less than 30 days!
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3 Key Points:
- Most companies lose money acquiring new customers. It doesn’t matter how many new sales you make if you’re losing money on every transaction. Put your energy toward email list building and nurturing relationships with your existing customers.
- Leverage great, relevant content to keep your customers engaged. Email marketing campaigns are a continuous value exchange. Deliver content that keeps the conversation going, builds trust with your customers, and shows that a long relationship with your company will enhance their lives.
- Intentions don’t matter. Segment your email list based on customer behaviors! Personalize your remarketing campaigns. Focus on customers who engage with your emails and your content. Most importantly, give special attention to the ones who continue to buy your products.
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Voices of Black Business Show Notes
**Click any timestamp to jump directly to that point in the episode.
Today’s Voice of Black Business: Stop Ignoring Your Customers! List Building + Email Remarketing = MORE REVENUE w/ Thierry Augustin
Thierry’s #1 Piece of Advice: Get Started!
- [02:25] Interview begins
- [03:20] Thierry started in medical school, then realized that his passion was in writing, ecommerce, and marketing.
- Med school fast track
- Travel, work, health industry
- Fashion startup
- Got hooked on e-commerce and online marketing
- They were able to leverage content very well through email marketing
- [06:00] Built niche consulting business in List Building & Email Remarketing
- Social Media Marketing versus Email Marketing
- You don’t own the social media platform
- All of your traction and followers can be gone at the drop of a hat
- You do own your email list
- You can market to anyone on that list for free any time you want
- Email marketing and remarketing
- How to segment your list
- Capitalize on repeat customers
- What to offer in exchange for email address
- [11:00] Don’t be a jack of all trades. Why Thierry decided to niche down to email marketing rather than being a general consultant.
- [12:45] The components of a great email marketing campaign
- Promotional strategy
- Great offers
- Behavioral List Segmentation
- Intent doesn’t matter
- What do customers actually do?
- Consistency of communication
- Keep your promises
- “Done is always better than perfect”
- [17:20] The Value of the Repeat Customer (avoid the shiny object syndrome)
- Most companies lose money on new customer acquisition
- Most customers don’t become profitable until their second or third purchase
- List Building is essential to getting a customer into your funnel and keeping them there as long as possible so they continue to make purchases
- Focus email remarketing on customers who are most likely to make new purchases
- [24:20] How do you get people to exchange their email for something of value that’s not tied to a product purchase?
- Create & offer great content
- Make a relevant tie-in to the products you sell
- Build automation into your email marketing campaigns
- Personalize the experience, email list building is customer relationship building
- Articulate the value of the relationship, your company, your team, and your products throughout the campaign
- [32:00] Back from Sponsor Break
- [32:30] Thierry’s Rules for Running an E-Commerce Business
- Sales and Marketing go hand in hand
- You must have a marketing budget if you want to succeed
- “Customer retention is way cheaper than customer acquisition”
- Have a back-end already in place before you launch your business
- Keep the conversation going after the initial purchase
- Every transaction is really an exchange in value
- [34:35] Mastering the value exchange – a case study from the vintage makeup industry
- [38:00] Thierry’s Secrets to Email Marketing Success
- Create bundles…increase the customer’s average spend
- Build recurring revenue models
- Personalize the experience for your customers
- This is where it really helps to understand your customers’ behavior
- Provide them with content and offers that you know they are interested in based on the things they have done before rather than treating all members of your list as one group
- [42:15] StellarEmails.com – How Thierry’s Company can help you
- Outsource the learning curve
- The Stellar Emails team handles the full process for your business
- Monthly cost – starts at $1000/month
- No long-term commitment
- Clients have achieved up to $150,000 increased revenue in the FIRST 30 DAYS just from effective email remarketing!
- [50:00] Thierry’s biggest challenge has been admitting when he needs help and hiring someone to provide that help. Shifting from the role of “doer” to “leader” is consistently one of the hardest things for entrepreneurs to do
- [52:40] Thierry’s favorite time-saving tools
- #1 most important is a Notepad & a Pen – Don’t miss out on all the wisdom in the world around you!
- Asana – “Asana helps you coordinate all the work your team does together. So everyone knows what needs to get done, who’s responsible for doing it, and when it’s due.”
Thierry’s Exclusive Offers for the Buy Black Podcast Community
- Hire Stellar Emails. No Commitment, businesses can start for as little as $1,000/month
- Want to learn the core elements of email marketing? Sign up for the Inbox to Income online course for self-starters!
Connect with Thierry
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