Customers want to know they are a valued part of a company. An excellent way to do that is to provide amazing customer experiences. But with only a short amount of time customers allocate per company, how do you keep the relationship going?
By getting the customer’s email address, of course!
Email is a great way to keep in touch with customers. It keeps the company’s name fresh in the customer’s mind and offers can be sent for upsell/cross-sell opportunities.
The question we want to address today is: how do you keep the customer from hitting the dreaded unsubscribe button?
As marketing becomes more targeted, personalized, and multi-channel, a company runs the risk of customers unsubscribing from all those channels. You may be in marketing and think of all these great ways to keep customers engaged and hope that customers will respond.
Customers don’t mind receiving an email if it’s for something they would like. They tend to unsubscribe from generic offers that don’t apply to them and tune out the offer. But if you send too many offers, you run the risk of creating burnout.
For example, imagine you work for a mobile carrier company and you recognize some warning signs that someone may churn (give their business to a competitor) 120 days from now. You can take some minor steps to correct for that churn possibility, such as sending a $10 coupon towards a new phone case.
That’s a very low cost for a very high reward if it does prevent churn.
The counter issue on that, though, is if you send offers too frequently, you risk the customer hitting the unsubscribe button to opt-out of emails. You’ve then lost the ability to contact the customer through that channel and now, when they’re 30 days out from churning, you lost the ability to talk to the customer.
Some email automation services and the ability to hyper-personalize offers can create a problem when the customer doesn’t respond to the messages and you don’t pick up on those signals to know if you are trying to do too much.
This is where ElectrifAi’s Email Opt-Out Prevention machine learning model is very useful.
Looking at the history of whether a customer has opened the email and clicked on links can be done by anyone. Manually doing that is very time-consuming, however, and so companies use tools to send automated emails to those customers to stay relevant.
Continually sending emails without a true understanding of the customer, though, is also the fastest way to lose that customer. And it’s very difficult to win that customer back if they’ve unsubscribed.
With machine learning capabilities, you can understand the actual business value of sending the email versus the risk of losing the ability to contact the customer.
Targeted emails are a much higher value when combined with the ability to understand customer behavior through purchase and payment history, demographics, length of time as a customer, etc. Machine learning can process thousands of these data points faster than an analyst could accomplish on their own.
Using the insights generated by the Email Opt Out Prevention machine learning model, you can make the best marketing decision possible and reduce churn rates.
The machine considers more factors across the entire subscriber base in a short amount of time. You don’t have to manually determine if you will send out an email to 10,000 or 10,000,000 people – that is not scalable at the level you need. Going through every single one, looking at all the factors, studying the data.
To some effect, what you’d be trying to do is reproduce what machine learning already does. But trying to determine what factors really matter, how and when do people unsubscribe, what does that really look like?
You may come up with a few ad hoc rules, but it’s not going to be very high resolution. You’ll also have a higher error rate. Practically, how many times can you do all this? If you have a list of 10,000,000 subscribers, you can’t possibly go through that.
The question is: why wouldn’t you use the thing that’s faster and far more reliable that saves you time?
ElectrifAi has a comprehensive set of solutions for marketing. These solutions all fit together in a great package that can help with cross-sell/upsell, churn mitigation, promotion propensity, and much more.
You can get a powerful and very highly targeted and personalized way of marketing to customers. And you can be sure that you are not over marketing to those customers.
Rather than go through the growing pains of a company that may understand machine learning but not marketing, or may understand marketing but not machine learning, you can partner with a company that understands both.
We have over 2,000 successful customer engagements with companies both large and small. And all our machine learning models have been used in the real world, solving actual business problems, and providing proven business value.
Let’s give you an example of a customer who successfully used the Email Fatigue Opt-Out Prevention machine learning model.
A Tier One Cruise company increased an estimated 1,500 bookings (equaling out to approximately $3,000,000 in revenue within the next 3-5 years) by using the insights generated from the model.
We bet you would like to increase your revenue by that much, or more!
There are many tools, platforms, methods, consultancies, etc., available to use. It can be overwhelming deciding the best option for your company.
Machine learning can seem complicated, but it’s actually very easy if you’re working with a firm that has the right experiences. Email Fatigue Opt-Out Prevention is a great place to get started if you’re just looking at how machine learning really helps in marketing.
Taking the next steps to further the benefits of machine learning is very easy. Additional machine learning models are easy to integrate within your existing workflows and you don’t have to build additional infrastructure.
Get a working and comprehensive machine learning program within a matter of months with ElectrifAi. We are here to help you on your machine learning journey!