As the end of the financial year is approaching, many business owners find themselves struggling to make the most out of their ROI (return on investment) while tackling the tax season. Lucky for most business owners, the EOFY is the perfect last-minute opportunity to reach out to customers about sales on old products whilst making room for new products.
With this in mind, EOFY marketing seems to be the best way to secure sales. This leaves the question of “what type of marketing should I use?” Unlike email marketing that has a 20% open rate and 90 minute response rate (if that), SMS marketing has a 98% open rate and 3 minute response rate. With the financial year finishing, the last thing we have is time. So rather than wait for a slow email open rate or even worse email response, let’s bring out the big guns with SMS marketing this tax season. Our team here at Cellcast has come up with five tips to make sure your businesses are able to squeeze in the most ROI before June 30th.
Tip #1- Use the rest of your EOFY budget before it’s too late
Having a budget can be stressful, but you know what’s worse? Losing that budget. Marketers are always thinking of how much budget they can use and on what campaigns. If you find yourself with some remaining budget it’s better to apply it now. Have you ever heard of the expression “You have to spend money to make money”? Well it’s definitely true in this case.
Tip #2- Retrace the old to profit the new
By retracing your old campaigns you’re able to see which of them worked and which of them did not. You can study your campaigns for open rates, customer responses, higher clicks and sales. This will only lead to smarter and more profitable campaigns. For example: you ran a few SMS campaigns during the year, and noticed customers were more responsive at noon than 9:00 am on a weekday. You also noticed that combining an extra discount along with free shipping led to more sales. These trends allow you to understand your customers more effectively by knowing what deals they’re interested in and at what times they are more engaged. In this way you can plan your SMS marketing campaigns to follow only these trends resulting in more ROI.
Tip #3- Offer VIP access to your most loyal customers
Send an SMS to exclusive customers letting them know they have early bird access to discounts or an exclusive members only sale. Customers want to feel valued, especially by their favourite stores. Creating exclusive offers for specific customers will entice them to purchase more. They’ll feel special and like they’re getting in on something other customers don’t have access to, yet. It’s easy and rewarding.
TEMPLATE: Hey #NAME#, we’d like to thank you for being a loyal customer! So we’re giving you VIP access to our exclusive EOFY sale. Use promo code EXTRA20 at checkout this weekend. Text STOP to opt-out.
Tip #4- Offer a deal that’s irresistible
As a way to drive more sales to your website send an SMS to let your customers know of your EOFY deals. Make sure to add a link to your SMS campaign so your customers can click directly into your sales page. By adding a link you’ll also be able to track which customers clicked on your page. See our example template below:
TEMPLATE: The EOFY is here! To ease this tax season we’re offering 20% off all our beauty treatments. Hurry online to reserve your treatment before the 30th of June #link# Text STOP to opt-out
Tip #5- Win your customers back
Now is the time to reach out to existing customers who haven’t made a purchase in a while. Or to those customers who have some things in their shopping cart, but unable to commit past that stage. Send these customers a little SMS reminder to nudge them into your store or website for a purchase. Offer a special discount on their next purchase or those items in their shopping cart.
TEMPLATE: We miss you here at Torrid! We’re offering a 30% discount through the end of June, just in time for EOFY. Simply enter the code MISSYOU30 at checkout.
TEMPLATE: Hi #NAME#, we noticed you left these items in your cart. Complete your order now, for a 10% off discount: needskin.smsb.co/cart-rws
Don’t miss the opportunity to get some last minute sales before the EOFY. If you’re still having trouble creating some SMS content feel free to reach out to our Expert Services team. They’ll be happy to assist you!