12 Ways to Increase Revenue With Drip
Email marketing is so much more than a “weekly newsletter” these days, and with powerful tools available at lower price points, a lot more companies can take advantage of these.
My go-to tool is Drip. It has a great balance of affordability, simplicity, and power. There’s a lot of businesses out there that could gain a lot of value from Drip, but it’s hard to see exactly how it would benefit them.
Here are the core features of Drip, and how they can be used to build evergreen revenue generating systems into your marketing websites, eCommerce platforms, and SaaS applications.
The Basics: Email
Drip has the standard functionality of simple email marketing systems of yore: You can create opt-in forms, and people can opt-in to your mailing lists. Once they are there, you can send broadcast emails to them periodically.
The Not-So-Basic: Marketing Automation Core Components
- You can add tags and custom fields to all of your subscribers. In this regard, it’s helpful to think of Drip as more of a customer database and less of a mailing list. Read Drip’s documentation here: Overview of tags, events, and custom fields.
- You can use this data to break subscribers into segments. This way if you want a broadcast to go out to a particular subset of your users, you can do that.
- You can also individualize emails with personalization. Drip allows you to insert variables and if/else statements into emails. Drip users the Liquid Templating Engine, so it’s almost as robust as Ruby.
- You can trigger events with automation rules.
- Drip comes with a ton of integrations. View the whole list of integrations here.
- You can combine all of these easily with workflows.
How Can You Make Money With These Features?
1. Evergreen Launches
Instead of getting a one-time burst of revenue, you can set up launches that run again and again.
2. Increase Conversions with Free Trial Workflows
Send onboarding messages that educate and empower your user, thus increasing conversions.
3. Recover Lost Revenue With Dunning Emails
Richard Felix of Stunning has some fantastic Dunning email templates you can use.
4. Gather Insight Using Cancellation Surveys
Groove uses this simple technique to increase Customer exit survey responses by 785%.
5. Nurture Leads With Email Courses
Use these email courses to provide value to your users, attract subscribers, and eventually pitch them on your products or services.
6. Personalize Your Calls-To-Action
Everyone is different, why are you marketing to them the same? Tailor your calls-to-action based on what you know about the user.
7. Use Product Specific Lead Scores to Trigger Behavior Based Pitches.
Instead of pitching all of your products to everyone at once, only pitch certain products to people when it’s relevant.
8. Personalize Your Marketing Pages
Use customer data to personalize your marketing page or application.
9. Discover Your Most Profitable Segments
Get business intelligence on which segments of your audience are the most profitable.
10. Automate Your Webinars
Run automated webinar and event sequences.
11. Integrate with Your CRM
Increase the efficiency and accuracy of your high-touch sales by integrating with your CRM and sharing data.
12. Recover Lost Revenue (again) With Cart Abandonment Emails.
Recover lost sales with cart abandonment campaigns.