Tuesday, June 1, 2010

Post-Transaction Marketing: Does Your Company Do It?

You may not recognize it by its name, but you definitely experience it. Once you purchase something from either an online or bricks and mortar store (for example, Amazon or Sears or Staples), and you have provided an email address, you will receive emails with “recommended” items to purchase that may correspond to your initial purchase. For example, if you purchased a book by John Grisham on Amazon, you would receive emails listing other books by John Grisham or other legal thrillers.

This is post-transaction marketing – and it leads to increased revenues if the customer does, indeed, purchase the recommended products. According to the U.S. Senate Commerce Committee, the most successful companies in post-transaction marketing during the last ten years are:
• 1-800-Flowers.com
• Expedia/Hotels.com
• Fandango
• Hotwire
• MovieTickets.com
• Orbitz
• Priceline
• Shutterfly
• Travelocity
• US Airways

The repeat items comprising the list are flowers, movie tickets, and travel. Therefore, people are repeat buyers of these items. The emails that they receive from these websites and/or companies recommend products or services that are appealing, have a reasonable cost, have acceptable delivery time frames, and most importantly, have demonstrated a familiarity and level of service that the customers appreciate.

So, what about your company? Is post-transaction marketing part of your annual marketing strategy? Can it lead to increased revenues with limited upfront time and automated emails over the long term? Many businesses discuss ways to reach their customers, but post-transaction marketing offers an inexpensive option – especially since everyone welcomes recommendations. So, try it.

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