This week we debuted the first episode of Ready, Set, Grow, a weekly web series where I sit down with the people behind today’s leading ecommerce brands to see how they’re using strategic marketing to supercharge their business and increase revenue.
Watch this episode of Ready, Set, Grow
In episode one, I head to Rareform, a company that turns roadside billboards into bags, wallets, and a whole host of other accessories. They have the unique challenge that every item they sell is one-of-a-kind.
Check out these three strategies they are using to find growth.
1. A New Twist on Restock Emails
Since every item Rareform sells is unique (and individually photographed) it’s often the case that a shopper wants to wait for their supply to be restocked with new color options. Rareform has set up a restock form on the bottom of their product page so shoppers can be notified when they have new inventory.
When they do restock instead of sending a restock email with an image they send a plain text email from their CEO. This adds a personal touch and prevents shoppers from thinking they only have that one style available.
2. Using Coming Soon to Generate Buzz
For new product launches, Rareform will announce each item on their coming soon page and allow shoppers to sign up for notifications when the product is available.
According to Kara Morin, CMO at Rareform, “every new product will go on to the coming soon page and some things might hit 3 or 4 months in advance. Some things have gone up almost a year in advance. And so that gives us a good way to gage customer interest but also we do put the price point on there too. So there have been a few times where we’re not settled on a particular price point but we might notice hey that coming soon list is actually a lot smaller than we anticipated, what if we drop the price by 10% and see if it increases the amount of sign-ups. And that’s a good way to know, hey that price point was actually a deterrent for people so that’s why they’re not signing up.”
3. Segmenting Past Purchasers to Sell Excess Inventory
Another smart strategy the Rareform team has tested is segmenting for sales. Recently, they had an excess of one of their most popular tote bags and needed to make room in their warehouse.
Rareform crafted a sale segmented sale based on those who had previously purchased one of their four totes bags and contacted those folks directly. The sale was very successful, with one shopper purchasing ten bags!
What You Can Learn from Rareform’s Success
While Rareform’s unique business of selling one-of-a-kind items isn’t the norm, there are many strategies and insights you can take away from their success. But at the heart of their email success comes down to collecting the right customer data and then using that data to send relevant, targeted, and timely messages.
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