What is a Drip Campaign?
Email newsletters are always effective in keeping your subscribers alert to informed about your recent update. While customer engagement has become a norm, it comes with one setback. New subscribers see only the latest email announcements without access to older emails. How can you ensure your new subscribers have access to old emails? All you need is a drip campaign. A drip campaign enhances sales from your new customers. It is also known as an automated email marketing campaign, autoresponders, or lifecycle emails. In short, a drip campaign sends prewritten messages to customers and prospects within a particular period of time. What is a drip campaign? Drip campaigns are automated emails that allow businesses to stay connected with different groups of people based on their behavior and stages within the customer journey. A drip email often comes in a prewritten form. There is nothing like manually writing distributing these emails. Rather, the message can be customized to include the contact’s name, company information, address, and more. Why do you need a drip campaign? The primary goal of a drip marketing campaign is to keep users engaged with your product and services. Here are a few ways you can use drip campaigns for your business. Welcome campaigns Welcome emails can be very strategic. It serves as a quick way to introduce your company and the products you offer. Remember, the first impression means everything, and welcome emails allow you to strike the perfect first impression in your customer’s mind. When doing this, ensure you address them personally. Nurture leads Your leads are the prospective customers that are likely to buy your product in the future. You need to keep in touch to stay on their top of mind when they’re doing shopping. To nurture these leads, use various blog posts, free trial offer, reviews, and help with specific features. Abandoned cart Your uniquely crafted newsletters can convince a customer to add the product you offer to their cart. However, something unexpected happens, and they leave without completing a purchase. All of your hard-earned efforts just got dished. How do you get these customers back? With an automated drip campaign, you can re-engage them to complete the order by placing the buy button. A drip email can help confirm if they are still available to complete the purchase. Note that this applies to any type of product you’re selling, be it tangible or intangible. Run a drip campaign with automation Though necessary, it is extremely frustrating to run every campaign manually. That’s why automation works best with drip campaigns. All you need to do is to set up a workflow telling the system when to send which customer which type of email. Then you can focus your resources on optimizing the content rather than the repetitive distribution task. For example: Besides executing email marketing campaigns, workflow automation application can also: Auto-publish products Auto-categorize orders (based on value, locations, etc) Auto-segment customer (based on demographics, spending, the total number of order, etc) Auto-tag customers on CRM, email marketing, and delivery platforms Auto-generate reports & lists on Google Sheet Auto-notify of low-stock items, abandoned cart, or high-value orders Auto-detect and halt high-risk orders On BigCommerce store, we have Atom8 – an ultimate automation tool to help you. Explore here: With multiple intelligent functions, Atom8 will enhance your business effectiveness and boost up profit.
A Quick Guide To Partial Shipment
It is not always possible to ship all orders at once, especially with products made of multiple pieces. Therefore, some businesses often ship them separately. The arrival time might vary for a few days depends on the warehouse location. This is called partial shipment. Before executing, it is crucial to know the process, the best approach, and whether you are doing it right. Although this may be necessary for certain situations, it is pretty hard to monitor the operation. How do you monitor a partial shipment in your system? What criteria will you set in place to ensure a completed order only when fulfilled? What is a partial shipment? A partial shipment involves delivering one single order in several shipments. One of the common use of partial shipments is when one of the items within the order is on backorder. It is also necessary to make partial shipment when a delay occurs or items are stored in different warehouses. For instance, you manufacture XYZ phones and get an order of 200 phones. When you check your warehouse, you discovered you only had 140 XYZ phones. How do you deal with such an order when you can’t fulfill it instantly? The best solution is to contact the customer to make a partial shipment of available products. You can ship 140 in your store first and deliver the rest later once you get them from the manufacturer Why are partial orders necessary? Partial shipment helps create an excellent customer experience. In the example above, the merchant may lose the entire order if they don’t perform a partial shipment. This will also gift their competitors with a generous customer. In other words, partial order can ensure both customer experience and sales increase. Challenges of having partial orders Though necessary, some business owners still struggle to offer partial shipments properly due to the backend management. This is because the partial shipment process is relatively complicated. You’ll have to track the delivery status of each order, notify customers when each package arrives, and fulfill an open order. Furthermore, you also have to deal with creating multiple receipts for one order. Partial orders best practices Use tools to split orders eCommerce automation tools make it easier to treat individual items separately. The platform can split orders into different line items in order to create a distinguished tracking code and label for each item. Remarkably, it ensures you don’t lose the main item from a single order. Therefore, once all items are fulfilled, you can mark the order as completed. Use automation to update status Automation tools such as nChannel allow you to get updates on partial shipments. You can integrate it into your eCommerce platform to schedule workflow, track partial shipments and leave a mark when the order is completed. Perform partial shipment with Backorder Clearly, this type of delivery is extremely beneficial for your Bigcommerce Backorder. With partial shipments, your customer can receive part of the order first and the rest later with a higher guarantee. Integrate both platforms in your store today and start an order backup strategy for better performance! If you are opening a store on BigCommerce, our BackOrder app will help you rescue revenue. Contact us now! The app allows your customer to purchase even at 0 inventory, with customizable notifications and ETAs.
Common Inventory Analysis Metrics You Should Know
Inventory Analysis Inventory analysis is the technique to determine the optimum level of inventory a firm should maintain. The most common inventory analysis method is ABC analysis. Let’s go through a few important metrics that can assist you in finding the right amount of stocks at hand to meet demands. Metrics and Calculation Formulas for Inventory Analysis Inventory Turnover Inventory turnover is the metric to measure the number of times a manufacturer’s inventory is sold, replaced, or turned over during a specific period of time, usually one year. However, the measurement can also take place on a quarterly or monthly basis. Basically, inventory metrics measure how properly the inventory is managed. A higher inventory turnover indicates efficient inventory management, and a poor turnover indicates excess or obsolete inventory in stock. Formula To Calculate Inventory Turnover: Inventory Turnover= Costs of Goods Sold/ Average Inventory Backorder Rate This inventory analysis KPI helps to track the percentage of orders that could not be delivered on time. It shows how many orders were not fulfilled at the time a customer placed an order. The Back Order Rate KPI indicates how well you forecast, replenish and track your inventory. In brief, a higher backorder rate points to poor demand forecasting and planning. It affects customer satisfaction. Formula for Calculating Back Order Rate: Back Order Rate= (Total Backorders/ Total Orders)x100 There are many reasons due to which a company might have a high backorder rate. For instance, not purchasing inventory according to demand, not re-ordering the stock on time, and poor tracking of multichannel inventory. Sell Through Rate Sell through rate compares the amount of inventory a retailer received and the amount of inventory it sold over a given period of time. Formula for Calculating Sell Through Rate: Sell Through Rate= (Number of Sales/ Stock-in-hand)x100 Sell through rate determines the percentage of units sold over a specific period of time and demonstrates your supply chain’s efficiency. Average Inventory Average inventory is the amount of inventory that a company keeps in hand during a period. Formula to Calculate Average Inventory is: Average Inventory= (Beginning Inventory + Ending Inventory)/2 This metric gives you an overall view of how much stock the company has on an average during a specific period of time. In other words, the purpose of the average inventory is to ensure that the company has a consistent average inventory over the course of a year. Gross Margin Return on Investment Gross Margin Return on Investment is the gross profit a company made for every dollar of purchased inventory. Specifically, the metric aims to measure how efficiently a company buys and sells its products. Formula for Calculating Gross Margin Return on Investment (GMROI): GMROI= Gross Margin/ Average Inventory Cost Days Inventory Outstanding This inventory metrics tells you the time taken to convert inventory into sales. If days inventory outstanding is low, it indicates the inventory is moving efficiently. In case it is high, it means excess inventory is sitting on the shelves. Formula for Calculating Days Inventory Outstanding: Days Inventory Outstanding= (Average Inventory Cost/ Cost of Goods Sold)x365 Conclusion To sum up, this article has given you a definition of inventory analysis and the various metrics used to determine the suitable level of inventory for a firm.
